IMPORTANT TERMS IN THE INSURANCE AND BENEFITS OF THE LIFE INSURANCE:

Life insurance terms:

The terms that are often used by the insurance companies are as follows: 

     policy, insurer, insured, ultimate beneficiary

 *Policy: 
          
             The rules and regulations that are followed by the insurance companies at the same time some datas are followed by the insured are mentioned in the agreement, is called as insurance policy.

*Insurance premium:

             In order to over the risk that occur from the insurance the insurance company paid insurance premium for the policy holder at a certain period that are mentioned in the agreement.

*Insurer:

            The person who accept insurance ie the insurance company is called as insurer.

*Insured:

            The person who invest in the insurance company for their future benefit is known as insured.

*Ultimate Beneficiary:

              In agreement the person who invest the money will mention or nominated the person for the final payment is called as ultimate beneficiary.

Lets see the benefits that occur while making insurance with the insurance in life insurance:


# It protects the family from the unforeseen action

# It reduces the tax of the income

# It provide the person to take loans by giving this policy as the security

#  It also covers home loans

# It also helps in the future plan of the particular family members who made the insurance

# It creates the savings habit