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Understanding Life Insurance Basics

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Understanding Life Insurance Basics

Before buying a life insurance policy, understand some basic points like what is life insurance, what is life insurance premium, how is the premium calculated and some basic buying tips. – PowerPoint PPT presentation

Life Insurance Basics

What is Life Insurance?

  • Life insurance is a backup of providing a

financial support to your family even after you

pass on.
  • It is a way of proving that you have a sound financial structure.
  • There are multiple life insurance plans available today.
  • Opting for a good plan will protect you and your

    family from unexpected situations and also help

    What is Life Insurance Premium?

    • Life insurance premium is an amount that you pay
    to the insurance company to purchase any policy.
  • In return to this, the insurance company pays


    nominee certain sum of money after you pass

  • However, in situations of unfortunate accidents,

    if you become permanent disable, then the company

    does the payment to you, and usually they pay

    this in installments.

  • How is Life Insurance Premium Calculated?

    • The factors considered for calculating life
    insurance premium are age, gender and health.
  • Basically, a younger person has more age span so

    they have longer maturity and the premium is also

    Consult Your Friends
    • Usually, many people believe in the power of

    insurance policies and definitely your many

    friends must have opted for some plan.
  • Immediately consult your friends on this Ask Online Insurance
    • Bang on! Online insurance is definitely the best
    Know The Different Life Insurance Plans
    • There are multiple life insurance plans available
    across multiple insurance companies.
  • They offer term life, whole life or universal life.
  • As part of your duty, it becomes important that

    Category: Insurance

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