LIFE COVERAGE
Life
Insurance provides life cover to the policyholder, for securing adverse
financial consequences or death of the insurer. It may be in the form of
critical illness, partial or total disability.
DEATH BENEFITS
Life
Insurance provides secure future to the family of the policyholder, in case of
his uncertain death. In case of death, the insurance company pays the full
amount (amount + bonus) to the beneficiary.
TAX BENEFITS
Under
section 80 C of Income Tax Act, life insurance amount up to the limit of Rs.
100000.
BONUS ON INVESTMENT
Most
of the insurance policy give bonus amount along with the actual amount at the
time of maturity. The bonus amount is quite good, which is not available in any
other kind of investment.