Life insurance involves both protection and investment.When any person does the life insurance policy then he wants to achieve two objectives and that are protection and investment.
PROTECTION OBJECTIVES:The main objective of life insurance or any other type of insurance is to provide protection. If any member of a family mainly the main earner of that family dies because of some incident than the family faces a lot of problems. Though the person cannot come back but the problem of family can be minimized with the help of life insurance . After the death of insured his family receives the sum assured with which their problem can be minimized and can spend their life comfortably. People take the life insurance policy so that their family would not get any problem in future.
INVESTMENT OBJECTIVES: Life insurance not only provide a protection for future risk , it is also a good way of investment for the people. Here insured invests a few amount as a premium to insurance company.
PROTECTION OBJECTIVES:The main objective of life insurance or any other type of insurance is to provide protection. If any member of a family mainly the main earner of that family dies because of some incident than the family faces a lot of problems. Though the person cannot come back but the problem of family can be minimized with the help of life insurance . After the death of insured his family receives the sum assured with which their problem can be minimized and can spend their life comfortably. People take the life insurance policy so that their family would not get any problem in future.
INVESTMENT OBJECTIVES: Life insurance not only provide a protection for future risk , it is also a good way of investment for the people. Here insured invests a few amount as a premium to insurance company.
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