WHAT IS INSURANCE ?
Loses of few shared by many is known as insurance.
Insurance is a legal agreement between two parties. The Life insurance company ( Insurer ) and the individual ( Insured ). In this, the insurance company
promisees to make good the losses of the insured on happening of the insured contingency ( Any Mishappening ).
Why Insurance Is Necessary ?
Life insurance is still a nascent idea and most people do not think about it until a major life change causes them to consider what might happen to their loved ones in case of any unforeseen circumstances. While the main objective of buying a life insurance policy is to protect or life cover oneself from unforeseen circumstances, it can also help in wealth accumulation, preservation, and give access to liquidity at the right time, if added as a component of financial planning.
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