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What Is Insurance Policy Life Cycle?

The life cycle of an insurance policy can be broken down into a number of stages. The first stage is the application stage, where the customer applies for coverage and provides all necessary information. The second stage is the underwriting stage, where the insurer reviews the application and decides whether to offer coverage. In this stage, insurers may also request additional information from customers in order to make a decision. If coverage is offered, then the third stage is called the policy issuance or sale. This is when an insurance policy becomes legally binding and premiums are due for that period of time. The fourth step in this life cycle is called renewal or continuation, which occurs at regular intervals throughout a term of a policy. In this step, customers have to decide whether they want to continue with their current plan or switch...Read More

When was Life Insurance Sector Nationalised?

The first insurance company in India is National Insurance Company. It was established in 1906. Life Insurance Sector Nationalised in the year of 1956.

How many Life Insurance Companies in India?

There are total 24 life insurance companies in India with varying product offerings and prices to suit different needs and budgets.

What is Postal Life Insurance Scheme?

Postal Life insurance was introduced on 1st Feb 1884 as a welfare scheme for the benefit of postal department employees which was later extended to the employees of the telegraph in 1888. Postal life insurance plans cover the life of customers against death or disability and are the same as the term life insurance or any other life insurance products. Postal life insurance online plans offer a different range of products such as Whole life insurance, Annuity insurance, term insurance, etc. Postal life insurance premium calculator is also available in online to calculate the premium of a postal life insurance policy.

Why Life Insurance is Important?

Life insurance is a financial service that pays a lump sum of money to the beneficiary in case of the insured individual’s death. Life insurance protects your loved ones in case of your death and also provides for them financially. Life insurance is one of the most important financial planning tools available in the market. In this pandemic situation, It is necessary to insure with a life insurance policy.

What is Life Insurance Policy?

A life insurance policy is a contract between the life insurance company and the insured customer wherein the insurance company agrees to pay the maturity benefit to the insured or the death benefit to the nominee of the insured in return for a nominal amount known as “Premium” which is to be paid by the insured customer to the insurance company on regular intervals. Life insurance policy includes life cover against any uncertainty tax exemption inclusion of riders and investment tool and retirement.

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Best Life Insurance for Above 10 Lakh Salary in India 2023

Find out the top best life insurance policies for people who have above 10 lakhs salary in India at PolicyBachat. Compare quotes and purchase online now.

Zero Cost Term Insurance vs Term Insurance Comparison

Get the difference between zero cost term insurance vs term insurance comparison at PolicyBachat. Compare quotes to buy the best life insurance policy online now.

Best Zero Cost Term Insurance Plans in India 2023

Zero Cost Term Insurance, is a unique solution for people who want to protect their families and their futures. Get term life insurance quotes, compare rates and go with the best deal.

Top 10 Life Insurance Companies in Nagpur, Maharashtra 2023

Looking for the best life insurance company in Nagpur? Here are 10 of the top companies in Nagpur. Compare rates, features, and benefits to find the best match for you.

Top 10 Life Insurance Companies in Agra, Uttar Pradesh 2023

Looking for the best life insurance company in Agra? Here are 10 of the top companies in Agra. Compare rates, features, and benefits to find the best match for you.

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