Life insurance is a contract signed between an individual and a life insurance company. The individual pays a certain premium at fixed intervals. In contrast, the insurance company pays the beneficiaries the insured amount on the occurrence of the insured event like death/disability or defined benefit of the product on maturity.
At Shalmali Finserv, we just don’t recommend Life Insurance as a platform of “Tax Savings” or “Fixed Income” only. We rather focus on the Sum Assured or Product Benefits on the basis of every individual’s profile. We consider it as a part of Finance Pyramid.