Death of the sole earner is arising the financial risk for the family member. Suppose the Mr. .x has four members in his family, and Mr. X’s spouse and two children are totally depending on him. Mr. X monthly income is $10000 in a month but due to sudden death of the Mr. arise financial problem in front of the family member to survive, Insurance is help in this situation.
Life Insurance Company indemnifies a large sum amount to the family member which help to the family for the children education also help to survive.
Life insurance not only paid on death of the policy holder but also when the policy holder reaches a estimated age.
Insurance is the risk which insurer bear and indemnify to the policy holder or the beneficiary in case of death of the policy holder or the when the policy holder age reached as mention in the deed of the insurance.
Life insurance is not come under the category as like other insurance .As in the other insurance the insurance company paid to the policy holder actual loss arises by any loss but in life insurance there is no question arise for the actual or partial loss.
Life insurance is also contract of good faith that means the policy holder need to disclose all the heath related issue to the insurer or need to submit the medical certificate before the insurance company before apply for the life insurance.
Life insurance policy becomes void if the policy holder committed suicide, or the nominee kill the policy holder to get the policy amount.
In life insurance the policyholder is not actually the sole gainer of the risk arises ,only the family member get the advantage of the insurance policy.
Life Insurance Company indemnifies a large sum amount to the family member which help to the family for the children education also help to survive.
Life insurance not only paid on death of the policy holder but also when the policy holder reaches a estimated age.
Insurance is the risk which insurer bear and indemnify to the policy holder or the beneficiary in case of death of the policy holder or the when the policy holder age reached as mention in the deed of the insurance.
Life insurance is not come under the category as like other insurance .As in the other insurance the insurance company paid to the policy holder actual loss arises by any loss but in life insurance there is no question arise for the actual or partial loss.
Life insurance is also contract of good faith that means the policy holder need to disclose all the heath related issue to the insurer or need to submit the medical certificate before the insurance company before apply for the life insurance.
Life insurance policy becomes void if the policy holder committed suicide, or the nominee kill the policy holder to get the policy amount.
In life insurance the policyholder is not actually the sole gainer of the risk arises ,only the family member get the advantage of the insurance policy.
nice
ReplyDeleteMoney can't replace or cover the loss of a person. But to secure the future of our family members in financial terms we buy a life insurance policy. There are so many types of life insurance policy available so a person should carefully understand which policy will suit to him best.
ReplyDeleteliability insurance company