
What exactly is life insurance and do I need it?
Life insurance is a contract between you and e insurer, wherein you pay the insurer a certain amount based on the agreed terms. In return, the insurer guarantees that, in case of sudden death or critical illness, your dependents / beneficiaries will be protected financially. But, if something that you might need in the distant future? People should get life insurance when they are in relatively good health. As it covers risk on the individual’s life, her health at the start of the contract should be average (normal). If her health is already seriously impaired, the insurer may not even accept her life insurance application. Our verdict: It is something worth considering.




