Life & General Insurance Plans - Coverfox

Life Insurance

Life is unpredictable, and while we all hope for the best, being prepared is essential. Life insurance is a legal contract between you and the insurer that provides a financial safety net for your loved ones in your absence. It ensures your family can manage expenses and maintain stability during difficult times. Beyond protection, life insurance can also help you plan for long-term goals like your child's education, marriage, or retirement.

Understanding Life Insurance: Definition and Meaning

• ✦ Life insurance is a contract between a policyholder and an Insurance company where the insurer pays a set amount to the nominee if the policyholder dies during the policy term, in return for regular premium payments.
• ✦ Some plans also offer survival or maturity benefits, critical illness coverage, and tax benefits, making life insurance a smart tool for protection and long-term financial planning.