ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Life insurance will help provide financially for your survivors. Health insurance protects you from catastrophic bills in case of a serious accident or illness.

Detailed explanation-2: -Life Insurance Coverage Life insurance is designed to provide a measure of financial security for your loved ones if you pass away. These policies allow you to name a primary beneficiary and one or more contingent beneficiaries to receive a death benefit should you pass away.

Detailed explanation-3: -Jump to a section to learn more about each type of life insurance: Term life insurance. Whole life insurance (permanent) Universal life insurance (permanent)

Detailed explanation-4: -Term insurance plans are life insurance plans which promise to pay a benefit only if the insured dies during the term of the policy. There is, usually, no maturity benefit payable under the plan. Term plans are, therefore, called pure protection plans.