What is Life Insurance?
Life insurance is a type of insurance that provides financial support to your family after your death. You pay a small premium, and in return, the insurance company gives a large amount of money to your family if you die during the policy period.
Why is Life Insurance Important?
If you are the main earner in your family, your death can cause financial problems for your loved ones. Life insurance helps your family to pay for daily expenses, school fees, and other needs even when you are no longer there.
Different Types of Life Insurance
There are many types like term life insurance (for a fixed time), whole life insurance (for your whole life), and endowment plans (which give money if you survive the term). Each has its own benefits.
Peace of Mind
Life insurance gives peace of mind. You know that your family will not suffer financially. It also helps in long-term savings, especially if the policy has maturity benefits.
Myth 1: Insurance is Only for the Rich
Many people think that insurance is for rich people. This is not true. Insurance is for everyone, no matter your income. Even small premium policies can provide big protection.
Myth 2: I Don’t Need Insurance Because I Am Healthy
Being healthy today does not mean you will never fall sick. Medical emergencies come without warning. Health insurance helps you stay prepared.
Myth 3: It’s a Waste of Money
Some people believe that paying premiums is a waste if they don’t use the insurance. But insurance is not an expense—it’s a protection. You may not use it often, but when you do, it saves you a lot of money.
Myth 4: Claim Process is Too Difficult
With digital services today, claim processes have become simple. You just need to submit the right documents on time. Most good companies help quickly and clearly.