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Life Insurance
Life insurance is a contract between a policyholder and an insurance company, where in exchange for regular premiums the insurance company promises to pay a lump sum amount to the beneficiaries on the death of the insured.
Insurance can prove advantageous in meeting several financial goals of the individual and his family. Here are some of the important ones:
- Financial cover against loss of life, which makes sure your family can support itself in your absence
- Child's education
- Child's marriage
- Buying a house
- Pension or regular income post-retirement
- Post-retirement income for NRIs
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