Life Insurance

What is life insurance?

• An insurance plan where an insurance company will pay a lump sum known as a death benefit to your beneficiaries after your death

• This type of insurance provides cover for loss or damage to any vehicle like a car, two-wheeler or commercial vehicle, etc.

• ^{This type of insurance provides coverage that pays for medical and health expenses.}

• An insurance plan that pays some of a person's income

  when he or she is disabled from an illness or injury and cannot work.

Who should invest in life insurance?

• ^{single individuals}

• Individuals who financially support someone

• ^{Individuals with no dependents}

• Individuals with a spouse or children

What is a beneficiary?

• ^{The person who owns an insurance policy}

• The person or entity that will receive the money from your policy's death benefit when you pass away

• Someone who processes claims filed with insurance companies, either from insureds or claimants

• ^{Someone you hire and pay regular wages to perform a specific job}

What does life insurance cover?

• ^{Almost any death}

• ^{Vehicle damage}

• ^{Percentage of income}

• ^Thefts

What factors can affect the cost of life insurance?

• Number of pets

• Gender

• Age

• Number of Accidents

What is the average monthly cost of life insurance?

• $1000

• $5

• $400

• $27

What is a premium?

• The payments you make monthly or annually to your insurance company in exchange for coverage

• A specified amount of money that the insured must pay before an insurance company will pay a claim

• ^{The money that gets paid to your beneficiaries if you die}

• ^{The tax-free payout your beneficiaries receive when you die}

Which are types of life insurance?

• Group

• Whole

• Liability

• Collision