Life insurance is a contract between an insurer and a policyholder. It is a financial cover for a contingency linked with human life, like death, disability, accident, retirement etc.
Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is a loss of income to the household. Life Insurance products provide a definite amount of money in case the life insured dies during the term of the policy or becomes disabled on account of an accident.
Life is beautiful but also uncertain. Whatever you do, however smart and hard you work, you are never sure what life has in store for you. It is therefore important that you do not leave anything to chance, especially ‘life insurance’.