Insurance is a form of risk management used to hedge against the risk of a contigent,uncertain loss.Insurance is defined as the equitable transfer of the risk of a loss,from one entity to another in exchange for payment.There are many types of insurance such as vehicle insurance,home insurance,life insurance,property insurance and either.
Here i would like to share about the life insurance.Life insurance provides a monetary benefit to a decedents family or other designated beneficiary and may specificall provides for income to an insured persons family,burial,funeral and other final expenses.Life insurance policies often allow the option of having the proceed paid to beneficiary either in a lump sum cash payment or annuity.Life insurance provides the option to pass equal assets to the children who are not active in the family business at the time the family business is passing on.Besides thats,life insurance can be useful in paying estate taxes,along with other estate setlement amounts.Federal estate taxes are due nine months after deaths.Life insurance is a highly regulated sector.IRDA,the regulatory body,through various rules and regulations ensures that the safety of the policyholders money is the primary responsibility of all stakesholders.Life insurance very importants to us so get a life insurance as soon as posibble..
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