Life insurance looks a bit like a role play in which, in addition to the insurer, three actors intervene: the subscriber, the insured and the beneficiary. This financial investment is popular with savers, who see it as an opportunity to build up savings, prepare for retirement and organize their succession under the best possible conditions.
Life insurance is a very interesting contract for anyone wishing to save, whether the end goal is to benefit from a supplementary pension or to pass on an inheritance.
A real all-rounder! There is something for everyone, especially since the operation of a life insurance contract is relatively simple, at least in principle. However, a number of legal rules must be observed, otherwise the contract may be cancelled.
The money invested and the accrued interest can be recovered at any time. It is its ease of use that makes life insurance the most attractive investment in the eyes of investors. Its principle is simple.
The insurer manages the funds invested by the insured and undertakes to pay him, when required, a capital or an annuity. In the event of death, the accumulated sums are automatically paid to the designated beneficiaries.
Unlike many other financial products, life insurance is also characterized by extreme flexibility. You can take out a life insurance policy – and even several – at any age, including for your child, who will regain control of it when he comes of age, all thanks to life insurance services providers.
A voluntary life and health insurance policy will give you the following:
Confidence in the financial security of the family;
Help in the fight against injuries and serious illnesses;
Financial support and care for your loved ones in case of the worst;
Protection of accumulated assets;
Inviolability of money invested in programs of endowment and investment insurance.
The question still arises – why insure life?
Providing yourself and your loved ones with protection, confidence in the future, stability is everyone’s personal choice. If we compare life insurance and car insurance, because we often insure cars, and it does not have life, although the consequences of accidents without life insurance can be much worse than an ordinary accident, then it no longer seems so “optional”. Approach this issue responsibly and everything will change.
Life insurance is both a reliable airbag, a piggy bank, and additional income. What in the end to give yourself and your family is up to you, consult life insurance services in India to find the suitable insurance for yourself.
What is the principle of life insurance?
Life insurance is a contract by which the insurer undertakes, in return for the payment of premiums, to pay an annuity or a capital to the insured or to his beneficiaries. It can be used as a medium or long term savings product.
At the end of the contract, the insured or his beneficiaries can recover the sums invested, increased by any gains and reduced by costs (in particular administration and management).
Contrary to popular belief, life insurance is not an investment that we perceive only in the event of the death of the subscriber, it is even basically the opposite. Life insurance service allows the insured to have the sum he has saved in the event of life at the end of the contract. It is therefore more of a savings contract, an ordinary investment, than a death insurance itself.