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How does life insurance provide both …

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How does life insurance provide both protection and investment benifit ?

Posted by Shriram Bs 5 years, 1 month ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 5 years, 1 month ago

The life insurance provides dual benefits, it provides security to the beneficiary of the insured and also acts as an instrument of long term savings. Such policies are known as money back or endowment policies.

In return of regular payment of premium amount, the insurance company, protects the insured, for a specified period of time. That is, incase of death of insured, the insurance company will pay a lump sum amount (already agreed at the time of contract) to the nominee/ beneficiary of the insured.

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