Life is unexpected and unpredictable we do not know what is going to happen on what point of time. When we have no surety about anything in life we should make sure that your life is insured so that the people of your family or the people whom you leave behind get the insured money so that they do not have to face any difficulty after you are gone. One can never be sure about what is going to happen in life and if you have a family with you then your safest bet to secure your family is to get insurance to keep your family going without you.
Life insurance Policy is a simple procedure where you take a desire amount insurance and pay regular premium amount for the same and in case of any death or accident or sudden death your family gets the cover amount which was taken by you at the time of taking insurance. Basically life insurance is a contract. A contract which is between insurance company and the insurer who is taking the insurance, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") upon the death of the insured person. In simple language in this the insurer gives a name of a nominee and the person who is taking the insurance agrees to pay a certain amount as a premium to the company and if incase of any accidental death or natural death of the insured person the nominee will get the cover money. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the benefits.
