Types of insurance by finschool.5paisa

Soon after graduating, Joshua got married and was expecting a child.

This made him worried thinking what would happen to his wife and his child after his death.

Since life is very unpredictable and in order to protect his family's future he bought a Life Insurance.

Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.

Types of Life Insurance: - Term Life Insurance - Permanent Life Insurance

Benefits: - Financial Security - Wealth Creation - Disciplined Investment - Retirement Planning - Tax Savings

Reasons to buy Life Insurance: - protects your loved ones and allows them to lead a dignified and comfortable life in your absence - lets you create an additional source of income to meet your goals - offers you peace of mind - Retirement Planning - helps you save for your old age

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