What is importance of life insurance? - Vidyadip

Question

What is importance of life insurance?

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Answer

(i) Life insurance provides protection to the family in case of untimely death of an individual.
(ii) It gives financial protection at old age when earning capacity is reduced.
(iii) Life insurance is not only a protection but also an investment because certain sum of money is either returned at the time of maturity or at the time of death.

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