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Life General and Health Insurance

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What Is Life Insurance ?
Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against :

The contract is valid for payment of the insured amount during:
  • The date of maturity, or
  • Specified dates at periodic intervals, or
  • Unfortunate death, if it occurs earlier.
Among other things, the contract also provides for the payment of premium periodically to the Corporation by the policyholder. Life insurance is universally acknowledged to be an institution, which eliminates ‘risk’, substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner and Maturity Value  for supporting living till old age without visible means of support.
Zindgi ke saath bhi, Zindagi ke baad bhi
LIC OF INDIA is the oldest Life Insurance Corporation in India formed by the act of Parliament in 1956 when 245 Indian and foreign insurers and provident societies were taken over by the central government and nationalised. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of IndiaIt is the Most Trusted Brand in India which has contributed in development of Modern India.
General Insurance, covering Insurance against Natural Calamities like Flood, Fire, Earthquake, or any act of God/Nature, Accidents, Theft, Dacoity, Riots etc., of Properties, may it be House, Vehicle, Stocks in Industries/shops,  Ships,  Aeroplanes, Cash in Hand/Jewelery in homes or showrooms of Jewellers is covered by the General Insurance Companies.
Health Insurance : covering Medical Expenses for hospitalization is the Latest need of the Modern Society when it too costly to afford for unforeseen contingencies due to Accidents and Major illnesses requiring hospitalization. We shall be discussing Life, General and Health insurances in details in our subsequent posts.

One Response to “Life General and Health Insurance”

  1. Insurance SA says:

    Life and health insurance covers are definitely two of the best investments you can make for your family. You may frown at the monthly premium payments but at least you can be sure that your family is protected in times of uncertainty.

    Laura from (Link removed by Admin).

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