MANAGEMENT

Detailed explanation-1: -Life insurance provides you with high protection as in terms of financial help that keeps you and your family protected in case of an unfortunate event. For example, your family may have to find the money for mortgage, debt, funeral expenses, bills, income replacement and more.

Detailed explanation-2: -Most people know that life insurance guarantees death benefit payment to the beneficiaries.

Detailed explanation-3: -Term Life Insurance In this, the insurance provides a death benefit to the insured, i.e., if the insured dies during the mentioned period in the policy, the insurer will pay the specified amount to the beneficiary mentioned in the policy.

Detailed explanation-4: -After you inform the insurance company, you will be required to fill out and submit a claim intimation form to the insurance company. You can do this by visiting the nearest branch of the insurance company or, if the policy was purchased online, logging on to the website and submitting an online form.

Detailed explanation-5: -Definition: The amount of claim paid to the nominee/beneficiary under the life insurance policy after the life insured passes within the policy term is called the death benefit. It is the lump sum amount that a nominee receives when the life insured dies within the policy period.