Life Insurance Plans Online in India – Aegon Life
What is life insurance? Life insurance is a contract between an insurance company and the insured whereby the company guarantees payment of an agreed amount (called death benefit) to the named nominee if something untoward happens during the policy period or at the end of the policy, termed as maturity. The insured needs to pay regular premiums to the insurance company for the policy to be valid. Why is life insurance important? If you buy life insurance, you are doing it for the financial security of your family, which relies on you, and to get multiple benefits such as tax exemption and planning for your child’s higher education. If my age is 30 and annual salary is around Rs 5 lakh, how much cover should I be looking at? If you are around 30, you have another 30 years of working life ahead of you. How do I process a life insurance claim? What is premium? Who decides what the premium amount should be? Is the gender of the insured important? Yes. What if the premium is not paid? Absolutely!