Benefits of Life Insurance in 2021

Insurance is also a friend and investment of future security. The insured is to transfer the burden of future risk to the insurance company or insurer.

Anyone of us is ignorant about the future. In the insurance process, the insurer tolerate the potential risk to the life of the insured.

Insurance is provided to deal with future risks. There are many risks in human life. Insurance is also one of the main ways to transfer risk.

Insurance is a type of legal provision between the insured and the insured. Other insurance procedures are taken forward by mutual agreement between the two parties.

Even though insurance has been introduced for a long time, the development in the insurance sector in our society has not been as much as it should be.

This situation is also a hollow for a society like ours. Because in a developing country like ours, the population living below the poverty line is higher.

In such a situation, the people here are forced to die prematurely due to poor financial condition for treatment.

Recently, the Government of Nepal has introduced a health insurance program. Which has to some extent removed the situation of dying without treatment.

There are different types of insurance. Microinsurance covers people who cannot afford other insurance.

Similarly, life insurance and non-life insurance also provide the ability to cope with any risk to human life.

What is insurance in our society even today and what is its importance? Why insure? What are the benefits of insurance? There are also people with the intention of They still lack knowledge about insurance.

Insurance business has not been able to flourish in such a situation. The insurance sector has not been able to improve due to major reasons such as non-activation of insurance agents, unwillingness of the insured, lack of appropriate policies and rules and non-implementation of existing policy rules.

In order to take the insurance business further, those of us who are directly or indirectly involved in insurance, if we carry out our responsibilities properly, the insurance business will surely develop more extensively.

Life insurance is one of the different types of insurance. Life insurance is the insurance against the risk related with a person’s life.

Life insurance provides the insured with the ability to fight against potential risks in the future. There are many benefits to life insurance.

The insurance company provides the insured with the ability to cope with future risks. If the life insured person has an accident, he / she will not be deprived of medical expenses as the responsibility is borne by the insurance company or the insurer.

If Bimit dies, his family will not have to deal with financial hardship. Due to the insurance claim, the family of the insured gets relief even if the insured dies.

If a small child is insured today, he or she will be relieved of the expenses for the future after he or she grows up tomorrow. It also protects his future.

Similarly, other benefits of insurance are as follows:

  • Financial security
  • Tax exemption
  • Loan facility
  • Elimination of dependency Encouragement
  • To save for future planning

Insurance provides relief to address a variety of risks that may arise in the future. We all need to insure for the ability to fight future risks.

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