About General Life Insurance

Life Insurance is an assurance of financial cover to a beneficiary upon the death of the insurance holder or after a maturity period. This arrangement is entered through a legally binding contract between an insurance policy seller or provider and an insurance policyholder. The recipient appoints a beneficiary who will receive an insured financial aid after the death of the insurance holder. The insured amount is compiled over time by the policyholder through recurring monthly premium payments.

A life insurance is a formidable financial cushion necessary for all. While it offers security to a family with a single breadwinner, it also helps individuals secure their life, especially post retirement. This is because a life insurance can be claimed by the insured even after it reaches maturity. It, therefore, promises a financially secured future, irrespective of anyone’s marital status, job or business stability.