Life insurance

INTRODUCTION OF LIFE INSURANCE

I wrote an article about insurance in previous article and now I am going to write about life insurance. Life insurance is unique among financial transaction and financial equipments. Life insurance is one of the financial instruments it is not only financial instrument it is also based on caring and love. Life insurance is a policy that give protection against the death of an individual in the form of payment to the beneficiaries. Beneficiaries are may be family member, business or institution. In another words, life insurance is a contract between owner(insured person) and life insurance company that guarantees the payment of the stated amount of the money on the death of insured person. Payment to life insurance company is called premiums. It is interesting that if you named beneficiary they'd receive the insurance amount free of income tax.

Every body should make life insurance. If we have may life insurances we feel good in our life time. In the period of life insurance policy time if the insured person is live he could get the insurance in the form of money and he also could get happy in the form of insurance company's return. He could live his retired life so easily and happily. So in today's world life insurance is necessary to us.