Insurance for traveler ? what are it’s Benefit
Life insurance is a legal agreement between the insurance company and the insurer, wherein the insured has to pay a certain sum to his family or to the insured after his death if the insured pay his or her insurance for a certain amount of time “life insurance business” means a contractual business dealing with a person’s life by paying a certain sum of money based on his or her life, and in the event of his death, his or her claimant will have to remember the contractual business of getting a certain amount.
The biggest risk is death. The man may die prematurely from disease, natural disaster, accident or other causes. That family may face financial problems if the family does not. In the event of the death of the insured during the life of the insured, the insurance company offers the insured amount and bonus to the insured. If the insurer is alive as long as the insurance is insured. He/she automatically receives the summing insured and bonus amount of the insurance term.
Editing certain legal principles of life insurance Some legal principles of life insurance are as follows. The principle of ultimate good faith The insurance business is a contract of trust. In other business contracts, the subject matter should be monitored, including the inspection of the subject matter, whereas the insurance contract is based on the written statement of the person and the company. This agreement should fully disclose the facts, and details until you know it. Violation of this means that contract may be terminated, payment is not received or penalty may be imposed if the information is not fully disclosed or deliberately conceal. Depending on your circumstances, you should take out life insurance.
Benefits of general insurance
- Means of financial security
- Incentives to save
- Education, education, and marriage arrangements
- Profitable investment
- Increase in social prestige
Means of financial security.
Insurance can provide a person with compensation for the problems they face as a result of future risks in their life and property. If the life insured survives for a certain period of life insurance, then the insurance company returns a lump sum insurance premium to the dependent family. This insurance is beneficial as it can be safely compensated for the event or risk that the insurer or family has.
Incentives to save
Life insurance encourages people to save money. Encourage yourself to be vigilant in protecting unhealthy property and avoiding later accidents. The amount deposited in the bank can be deducted from a small amount of work, but since the money deposited in the insurance company cannot be withdrawn until the end of the period, the money is being saved and interest is increased as a bonus.
Education, education, and marriage arrangements
Loans are provided in proportion to the sum insured to provide for the education of their children as well as the cost of arranging the marriage. It can help a lot for children’s higher education or desire to study abroad. It can also be a great help to have a wedding or a cultural event.
Life insurance is a kind of life protection measure as well as an investment. If the life insured dies well ahead of the stipulated time, he provides a lump sum amount to the person or dependent family he wishes. The amount will be returned by the company along with the original insurance amount and maturity interest during that period. The money can be put into any profitable job.
The insurer has a different reputation in society because the insurer is sure and confident. He is confident by insuring different types of documents for the future and can enjoy a happy day even in the old age.