Q: What is Life Insurance?
We live in a world of uncertainty. There are natural and man-made disasters, road and other accidents, and a long list of factors which result in injury to a person or loss of life. Nobody knows when that happens. These are unavoidable. What is avoidable? You can secure yourself and your near and dear ones financially. When you buy a Life Insurance policy, you are financially securing the unknown future. Life Insurance pays out a sum of money to the insured person after a set period (called Term). Life Insurance also pays out a sum of money to the nominee in the event of death of the insured person.
Q: Advantages of Life Insurance.
Life Insurance provides funds for dealing with adverse financial consequences of the insured’s Demise. Death benefits are generally income-tax-free to the beneficiary
Q: Claim
A claim is the payment made by the Insurance company to the insured or claimant on the occurrence of the event specified in the contract, in return for the premiums paid by the insured. The Insurance company processes the claims made by the claimant and releases the payment as per the terms and conditions agreed upon. The easy and timely settlement of a valid claim is an important function of an insurance company.
Q: Why Insuremile
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission For every policy you buy, InsureMile on your behalf contributes 10 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.
Q: Why should we buy Life Insurance?
To ensure that your immediate family has some financial support in the event of your demise. To finance your children’s education and other needs. To have a savings plan so that you have a constant source of income after retirement.
Types of Life Insurance
1.Endowment Policy. 2.Term Insurance. 3.Money or Cash Plans. 4.Whole Life Insurance. 5.Children’s Policies. 6.Annuity Plans.
Q: Why buy insurance on InsureMile online platform?
● Because enquiry about insurance quotes, buying of insurance and other transactions are simple, transparent and competitive on InsureMile platform ● Because InsureMile does not ask you for your phone number or email details, thus you are not harassed by unwanted calls or mail. ● Because InsureMile will guide you, whenever you need any assistance