The life
insurance company insures the person for a specific
amount. The amount of premium depends upon how many years
and amount to be insured (coverage). Age also is a factor
while considering a life insurance policy. The person who
is insured should provide all the information correctly
including his health position, as life insurance is an agreement
between both the parties and is also called as a contract
in good faith.
The insured should provide all the
details like age, family history, health etc correctly.
The amount of premium is very very low compared to the amount,
which would be provided in case of death. Life is uncertain
and to protect your dear and near ones it is advised to
take a life
insurance policy.
There are two types of insurance
policies, one is term insurance and the other is permanent
insurance. It is important to plan and decide which policy
your family needs. You have to take into account the amount
of loans, mortgage etc before you decide on a life
insurance policy.
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