Question

What is importance of life insurance?

Answer 1

The importance of life insurance are as follows:

1. Life insurance provides protection to the family in case of the untimely death of the insured individual.
2. It offers financial protection at old age when the earning capacity of an individual is reduced.
3. Life insurance acts not only as a protection but also as an investment because a certain sum of money is returned either at the time of maturity or at the time of death.