5 Reasons Why You Shouldn’t Cancel Your Life Insurance Policy
We often neglect/ignore investing in insurance thinking that it is a waste of money. But have you ever thought how your family would survive after you meet with an unfortunate event and there is no way getting back?
In such a situation, if you have bought a life insurance policy, then you do not have to stress yourself out. A life insurance policy is an agreement between the insurance company and the insured, where the insurance company assures payment of the sum insured by the policyholder upon his demise to the beneficiaries mentioned in the insurance policy agreement.
The policyholder has to pay a premium to the insurance company every month against the sum insured by him/her.
The primary objective of buying a Life insurance policy is to secure your dependents, as they will receive financial assistance from the insurance company after your death.
Advantages of a Life Insurance policy
If you wish to keep your dependents financially sound to and help them lead a healthy and peaceful life even after your death, it is essential you buy the right life insurance policy at the right time. In this fast-paced world, a life insurance policy is therefore not an option but a smart and wise choice.- High Life Risk Coverage:
- Financial Assistance
- Better Returns:
- Acquiring Loans
- Refund on Online Payments
These are a few benefits, but the sole interest remains peace of mind and security.
- Kinds of Life Insurance Policies
- Term Insurance Policy
- Endowment Policy:
- Child Insurance Policy
- Whole life plan
- Money Back Plans