What are the advantages ans disadvantages of life insurance?

Answer 1

Human life is most unpredictable and no one knows when and how death will visit your home and empty all the happiness, expecations by a whisper. It is through life insurance that policy holders are assured against human life's most unpredictable eventuality - death. When the bread earner of the family dies, the whole family is left in total jeopardy. During this fateful period, life insurance acts as the most faithful friend, by proving a corpus to the nominee which helps to regain further foot in the harsh reality. The balance being in favor of its advantages, many people think that paying premia for a long stretch of period and wait for the death to come is rather ridiculous, Especially in term assurance policy, there is no payment on maturity and question of payment arises only in case of death of the policy holder, to be payable to the nominee.