What is the purpose of getting insurance? Should we get it to save money or for our family’s financial safety in case of death? Does the claim get settled easily or is it a complicated process?
-Aatma
The primary purpose of buying a life insurance policy is for the purpose of ensuring your dependents’ financial security in case of your untimely death. Insurance is a contract, and if you’ve given all the required information correctly and honestly at the time of purchasing the insurance, then your family won't have any problem in claiming the settlement.
This article was originally published on May 24, 2012.