Some basic things about these credit , vedit , insurance,sales , reliance name the topics actually which every human should know.
Answers
Step-by-step explanation:
According to Maslow’s Hierarchy of needs, Life Insurance or Protection should be one’s primary importance. Theoretically, everyone knows about it, but rarely do we understand the real importance of the same.
Recently my neighbor, Mr. Agarwal, age 45, working in an MNC as a software engineer encountered with a massive heart attack and died before he could be even admitted to the hospital! He had been living a luxurious life with his wife and two children in a beautiful house. Renu, his wife was totally unaware of her husband’s financial conditions and was stressed, both emotionally and financially! The family was going tough times after his death. They had no idea of how to handle the situation.
At that moment, an insurance agent came with some documents to the family. Renu had no clue that her husband had taken a life insurance for himself and made her a nominee. Even their house was insured for the home loan that Mr. Agarwal had availed. All this was such a relief, when Renu received Rs 1 crore cheque from the insurance company for the life insurance policy of Mr. Agarwal. Her emotional stress due to her husband’s absence could never be fulfilled but at least her financial problems were well handled!
This was an eye opener for me and thereon I started to evaluate Life Insurance Policies with more seriousness. Based on my research, I have concluded that these are the top 7 things to know if you are planning to buy a Life Insurance policy.
What is Life Insurance?
Life insurance is a safeguard against financial deficiency at the time of insured Individual’s death. Practically, life insurance grants you and your family the financial security. It also provides you assurance to deal with any unforeseen events. Life insurance is preferred according to the needs and goals of the insured.
☆ Insurance is NOT an investment
☆ Required Coverage amount
☆ Policy Tenure
☆ Type of Life Insurance best suited for you
☆ Claim Procedure
☆ Benefit Offered: Death and Maturity Benefit
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