Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.
Life insurance is designed to protect your family and other people who may depend on you for financial support and it pays a death benefit to the beneficiary of the life insurance policy holder. Over the years, life insurance has also evolved to provide options for building wealth or tax-free investments.
Over the years, MG Sasikumar & Associates have been providing individuals with reliable and guaranteed life insurance policies with types including term insurance / plans, whole life policy, endowment plans, ULIP (Unit Linked Insurance Plan), money back policy, children's policy, annuity plans among many other popular options.
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