How helpful are the life insurance plans?

Liked this question? Tell your friends about it

5 Answers

Order by
Oldest to Newest
Newest to Oldest

Nobody lives to find out.

Life insurance plans are helpful because they secure our life.

Life insurance is that the financial interests of one’s family remain protected from circumstances such as loss of income due to critical illness or death of the policyholder. Such plan not only gives you better return but also offers great benefits for you and your family. To buy Life insurance is a necessary part in financial planning for life.

Life insurance sees through that your financials are secured if you are not around. There are various plans under this i.e. saving plan, term insurance, retirement plan, child plan etc where you need to pay the life insurance premium at intervals and you get return after it. I will recommend you to check out the IRDA site as you will get details about each plans. 

Life is full of surprises - both the good and the bad. Life insurance is a contract between an insured (insurance policy holder) and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the benefits. The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result in financial hardship for loved ones and lenders. It is possible for life insurance plan payouts to be made in order to help supplement retirement benefits.



Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: Do you know of a good bank that offers finance for ...

Do you know of a good bank that offers finance for working capital?

Asked: How are retirement life care plans financed?

how are retirement life care plans financed?

Asked: Corporate Finance

What is Corporate Finance? How it works?

Ask a Question... We'll forward it to people who know

More Questions

Health Insurance Plan

With medical costs going sky high, purchasing a health insurance have become an integral part of our lives. Its an agreement between the insured and the insurance provider, where the company agrees to pay your medical bills on claim in return of a certain amount of premium that the buyer needs to ...

looking for site to get life insurance from minnesota life

You can purchase Minnesota Life products through many independent agents, including us!

Life Insurance Plans

The life insurance policy that you will take depends on a number of factors like your annual income, the number of people dependent on you, whether you have any other debts or obligations, the number of persons for whom you want coverage, your lifestyle and so on. Hence whichever policy you take ...

Life insurance? Can somebody help me with reliable source?

You can review a list of top 10 life insurance carriers at - it provides a list of the insurance companies that wrote the most individual term life insurance policies from the previous year.