Advantages of life insurance


o   Promotes savings: The insured person saves the money to pay the premium of the policy. So, it develops the habit of saving among the policy holders.

o   Financial aid:  After the death of a policy holder insurance company pays the insured amount to the heirs so, the family gets the financial aid to face many problems.

o   Planning for future:  Life insurance is very helpful for the last age of a person at that stage men can not do any job so, due to the availability the insured amount he can lead a good life.

o   Profit earning:  Insurance not only provides financial aid to the family of a deceased person but also gives profit on the capital.

o   Tax concession: some time Govt provides tax concession to the policy holders it is also an advantage of life insurance.

o   Credit facility:  A policy can also obtained credit from various financial institutions against the life insurance policy.
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