Persuasive Essay On Life Insurance

993 Words4 Pages

Purchasing a Life Insurance - Save Money the Smarter Way Life is very unpredictable. You never know what and how your “tomorrow” will be. Thus, you have to be very careful about choosing options that will affect your life as well as the lives of your loved ones. Have you even thought, though god forbid; how will your family members survive without you? Not that we have to keep worrying about it but it is a fact of life. We should be prepared for it and plan a few things, accordingly, well within time. Life Insurance is one of the best forms of securing your future and also of your family if something unforeseen was to happen. Yes, you read it right! Life insurance is not just for securing lives of your family members but it also gives a plethora of benefits to the insurer. Before we proceed further, let us understand the term life insurance in a detailed manner. What is Insurance? Insurance is a very old way of safeguarding one’s asset. There are traces of insurance in even 2000BC, when it used to be done to reduce the risks of traders. Going by the definition, Insurance is a contract to pay compensation in case of any loss, damage or theft; only after the insurer has made periodic premium payments. In insurance, there are two parties;  Insurance company (one who collects premium and pays compensation in lieu of any damage or loss)  Insurer (one who pays the premium amount regularly and gets the benefit or compensation) What is Life Insurance? Life insurance is a form of

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