Learn Your Life Insurance

Learn Your Life Insurance

Life insurance in India was started more than a hundred years ago.

In our country like the world's largest population - insurance is not given the importance of the same as it should be given. Here we are trying to make readers aware of certain concepts of life insurance through special references of LIC.

However, it is worth noting that whatever we are going to tell here is not a detailed account of the LIC's terms / conditions or its benefits or privileges.

Contact our branch or divisional office for detailed information. Any LIC agent will be happy to help you in choosing the policy and paying for it according to your requirement.What is life insurance? Life insurance is such a contract, on the occurrence of those incidents, for whom the insured person is insured, Promises to pay a certain amount.

The contract is valid for payment of the sum insured during the following period:
Payment date, or
Or at the interval period.
Unfortunate death provided it is before the payment period
Under the contract, the policy holder has to pay premium to the corporation at a fixed interval. LIC is considered universally as an institution which eliminates risks and brings uncertainty to certainty and helps the family from time to time on the untimely demise of the earning of the livelihood.

Overall, life insurance is a partial solution to the problems arising due to death. In essence, life insurance is related to two problems in every person's life: Before the time the person dies and leave his dependents at his place, live without support till the end of life. Life insurance vs. other insurance policies
The insurance contract is an extreme goodwill contract, which is technically called "extreme faith". The principle of revealing all the important facts is based on this important principle, which applies to all types of insurance.

At the time of taking the policy, the policyholder should ensure that the correct answers to all the questions asked in the proposal form are given to anyone. Any mistake, do not disclose any disclosures or fraud in any document and accept risks. Doing invalid and cancel the insurance contract.

Security
In the event of the death of Savings Savar of Life Insurance, which guarantees full protection of the risk of death of the survivor, only the life assured will pay the full sum insured (in case of bonuses where bonuses Meet), while other savings are paid for interest on savings savings.

Help to increase prosperity
Life insurance promotes prosperity and provides the opportunity for long term savings as easy payments can be easily made in easy installments in the plan. (For premium payments, either monthly, quarter, half yearly or annually in installments )

For example, the Yavatan Savings Scheme (which is commonly known as 'YSS') provides an easy way to pay premiums through monthly deductions of the insured.

In such cases, the employer pays the LIC directly to the premiums paid, and the Salary Insurance plan is the ideal plan for any institute or establishment, apart from that, there are certain terms / conditions with the age limit.

The cash
In case of insurance savings, which has received the cost of a policy on the security of a policy, it is easy to get a loan. In addition, the life insurance policy is also accepted as a collateral of business.

Relief
Life insurance is also the most suitable remedy for the use of income tax and property tax deduction. This facility is available on the amount to be paid in the form of life insurance premium, which depends on applicable income tax rates.

Taxpayers can avail tax benefits by availing the benefits of the tax laws. In such cases, the insured gets admitted in small premiums for the other type of plan.

Money at the time of need
Necessity of money arising from time to time can be fulfilled by taking a policy with suitable insurance plan or by taking a comprehensive policy of many different schemes.

Children's education - writing, starting a home or marriage Expenses or any It is easy with the help of these policies to meet the monetary requirements that arise in the special MCX.

On the contrary, the policy money can be available for the construction of houses or other investments such as retirement of a person.

Apart from this, the policy holders are required to make houses or flats. The purchase is also available for purchase (though some conditions apply with it). Who can purchase policy No adult woman - who can make a valid contract Can insure yourself and insure them with whom their insurable interest is linked

A person can also insure his / her spouse or children, but there are some conditions with it. While accepting the insurance proposals, the corporation considers the health of the person, its income, and other relevant factors. The Nationalization for the Children (1955) ) Before how many insurance companies used to take additional premiums for insuring women or impose some restrictive conditions. However, since the nationalization, the conditions on which the women's life is insured, those conditions have been reviewed from time to time.

Today, the working women earning money