Non-Clinical Support » Personal Finance

Life Insurance

Basics

Life insurance is one of the most popular savings/ investment vehicles in India. An insurance policy offers much more than just tax planning and investment returns. It offers you the ability to plan for unforseen events that could affect your family's financial problem adversely.

What is Life Insurance?

• Life insurance is a contract for payment of money to the person assured (or to the person entitled to receive the same) on the occurrence of the event insured against.
• Usually the contract provides for -
  • Payment of an amount on the date of maturity or at specified periodic intervals or at death, if it occurs earlier.
  • Periodical payment of insurance premium by the assured, to the corporation who provides the insurance.