Introduction to Life Insurance
Content
INTRODUCTION TO LIFE INSURANCE
Life insurance is a contract between the policy holder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of insured person.
The importance of Life Insurance
Life insurance is a thing like which you think after you became older. But there are many benefits which you get if you take an insurance policy in your working career. If you do not have family that depends on you or if you think you have insurance from your employer and it will fulfill your all life insurance needs. There are many reasons why should you have your own insurance policy. If your get a life insurance policy from your employer, you should not essentially rely on it. Many companies provide life insurance as a key benefit of job; but it does not provide sufficient benefit for your family member ± mainly the time of your death. Many companies provide life insurance which is one or two times of your annual salary, but financial planner advised, you should have life insurance ten times of your life insurance It is most important that customers should be conscious of which life insurance plan of they can choose. Basically there are two types of life insurance: term life insurance and investment type insurance. In term life insurance your family member and dependents will get benefit if you die throughout the planned period of policy. Investment type life insurance also known by the name of ³Permanent insurance´ will contain endowment policies and whole life policies. This type of life insurance remains in effect for as long as you continue to pay your premium. Some part of your premium will go in investment account as well as you paying out the premium; it will increase your premium cost- which you can cash before you die. This is the main reason to invest in life insurance early of your age, if you take early your investment cost will build up during your life time, and may be able to more claim when you are older.
Overview
Aviva India is a joint venture between one of the country¶s oldest and largest groups, Dabur, and Aviva plc, the UK's largest insurance group, whose association with India dates back to 1834. Our vision is to be amongst India¶s leading life insurers with a quality business model, focused on sustainable growth. We seek to build a robust product portfolio meeting all customer lifecycle needs related to ± Savings, Retirement, Investments and Protection. With a strong sales force of over 20,000 Financial Planning Advisers (FPAs), we have initiated and pioneered many innovative sales approaches, including the concept of Banc assurance and Financial Health Check services. We are among the first companies to introduce the contemporary unit-linked products. A seasoned team of fund managers make our fund management one of the key differentiators. With a wide distribution network of 140 branches and strong Banc assurance partnerships, we are spread across nearly 3,000 towns and cities in India. Keeping with our commitment of social responsibility, we have been successful in reaching out to the underprivileged strata through our Micro insurance initiatives.
Life insurance is a contract between the policy holder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of insured person.
The importance of Life Insurance
Life insurance is a thing like which you think after you became older. But there are many benefits which you get if you take an insurance policy in your working career. If you do not have family that depends on you or if you think you have insurance from your employer and it will fulfill your all life insurance needs. There are many reasons why should you have your own insurance policy. If your get a life insurance policy from your employer, you should not essentially rely on it. Many companies provide life insurance as a key benefit of job; but it does not provide sufficient benefit for your family member ± mainly the time of your death. Many companies provide life insurance which is one or two times of your annual salary, but financial planner advised, you should have life insurance ten times of your life insurance It is most important that customers should be conscious of which life insurance plan of they can choose. Basically there are two types of life insurance: term life insurance and investment type insurance. In term life insurance your family member and dependents will get benefit if you die throughout the planned period of policy. Investment type life insurance also known by the name of ³Permanent insurance´ will contain endowment policies and whole life policies. This type of life insurance remains in effect for as long as you continue to pay your premium. Some part of your premium will go in investment account as well as you paying out the premium; it will increase your premium cost- which you can cash before you die. This is the main reason to invest in life insurance early of your age, if you take early your investment cost will build up during your life time, and may be able to more claim when you are older.
Overview
Aviva India is a joint venture between one of the country¶s oldest and largest groups, Dabur, and Aviva plc, the UK's largest insurance group, whose association with India dates back to 1834. Our vision is to be amongst India¶s leading life insurers with a quality business model, focused on sustainable growth. We seek to build a robust product portfolio meeting all customer lifecycle needs related to ± Savings, Retirement, Investments and Protection. With a strong sales force of over 20,000 Financial Planning Advisers (FPAs), we have initiated and pioneered many innovative sales approaches, including the concept of Banc assurance and Financial Health Check services. We are among the first companies to introduce the contemporary unit-linked products. A seasoned team of fund managers make our fund management one of the key differentiators. With a wide distribution network of 140 branches and strong Banc assurance partnerships, we are spread across nearly 3,000 towns and cities in India. Keeping with our commitment of social responsibility, we have been successful in reaching out to the underprivileged strata through our Micro insurance initiatives.
