Who Can Buy A Policy? Any person who has attained majority and is eligible to enter into a valid contract can insure himself/herself and those in whom he/she has insurable interest. Policies can also be taken, subject to certain conditions, on the life of ones spouse or children. While underwriting proposals, certain factors such as the policyholder’s state of health, the proponents income and other relevant factors are considered by the Corporation. Protection: Savings through life insurance guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amount assured (with bonuses wherever applicable) whereas in other savings schemes, only the amount saved (with interest) is payable.
Posted on: Wed, 13 Aug 2014 05:48:51 +0000
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