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Life Insurance Essay

818 Words4 Pages

Safeguard Your Family with Life Insurance Cover
We live in uncertain world and we all know we are mortals. Still, many try to protect their family with some means or end. This may be in form of wealth by family inheritance. It may be a saving from regular income. It may be an income from business, investment, and many other means of income. The word life insurance policy is common to hear since our childhood. Our parents will have opted for it and we may not know about it until we are mature enough to know, why a life insurance policy is necessary. It continues from our parents to the next generation for safeguarding their family members by a life insurance cover.
Why a Family Need Insurance Policy
This is the common question, when comes to safeguard your family with affordable life insurance cover. A family may require a life insurance cover to meet the financial needs in case of uncertainty like death. In such case, the nominee of the deceased will get the full or the maximum sum assured of the existing policy. In this way, it helps you financially, even after an earning member is no more in your family.
Which Life Insurance Company is Best
When comes to select a best insurance company, there are hundreds of life insurance company to select from. These are nationalized and of private companies. …show more content…

This is because of the double benefits a term life insurance may avail by a policyholder from a life insurance company. It may benefit you from certain limit of income tax exception when you have a life insurance policy. Most of the people are working group and earn a taxable income. It is advisable to take such life insurance policy with high amount of sum assured to get more benefit with a single policy, when your income rises every year. A singly life insurance policy may benefit you for a longer time for such tax exemption on taxable income by salary or

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