InsuranceLecturer — Life is uncertain so is 100% protection of those who entirely are parasite on sole earner in the family for survival. But if you’ve protection of Life Insurance then anxiety of what would happen with yours wife, children or family in case you die would hardly engulf you.
Those who are caring for family and farsighted as well do buy variety pf insurance policies for the sake of their family’s security, after their death.
Definition of Life Insurance
Life insurance can be defined as a kind of contract between the policy buyer and the insurance company for a particular amount of cash, in case tragic/accidental death occurs of the former one.
A very meager amount of premium (cash) is deposited every moth by the policy holders up to a specific period. Those, seeking to get insured safety of their family pay a predetermined amount of money every month for a particular number of years, which is reimbursed to them with interest, in case no any casualty occurs with them.
But, in the meantime a Life Insurance policy-buyer dies or encounters some tragic situation the insurance company bears entire expenditure of medical treatment or hands over entire amount to his/her family, the insurance policy must have been bought for.
Does Insurance Policy for Life Cover other Complications of Life?
Though insurance services cover every sphere of human life, including the life, property (movable & immovable), vehicles, goods, etc, people generally give priority to the insurance of life.
Death is not the only issue, as far as insurance policies are concerned. Those falling ill or sustaining injuries following accident also are entitled to be benefited of insurance policies. Advantage of insurance can be gained according to the terms and conditions policy buyer agrees to.
Why the Complaints of Negligence on a Part of Insurance Agents are heard?
Maximum numbers of insurance policy holders do not peruse terms and conditions of the insurance company, which afterwards becomes a major cause of frustration to them as the agents, deputed by company to inquire overall situation, including cause of death, accident, gravity of injuries and even the claimed amount by beneficiary /s submit their report, according to company’s terms and condition the policy-purchaser might have signed on earlier.
Whenever such kind of situation prevails the complaints are natural to emerge. But it is an exceptional issue and not the common one which the genuine people should not worry of anymore.
How to Purchase Insurance Policy?
There are many insurance companies which you might have heard of. These companies contact the individuals through agents to sell their policies.
But you should not get hypnotized of any oral explanation of insurance policy schemes or Life Insurance benefit as many hidden terms and condition of respective company may pose some problem.
Do not fix appointment with any agent of insurance company unless you get acquainted with its suitability and actual position it enjoys in the market. You should visit the website of insurance companies and consult with those who hold its policies or those who’ve been benefited with its services.