What is life insurance:These are the benefits of insurance

Kathmandu: Life insurance is both a type of savings and an investment. A financial instrument that carries risks. Those people who are insured in the insurance company pay money every year. If those people are at risk, i.e. if any incident happens, the insurance companies pay the compensation.

If there is no incident for the insured persons till the specified period of time, the insurance companies will return the amount along with the compensation. Life insurance helps any victim by freeing them from fear.

There are many benefits of life insurance. Bonus is received from insurance. People have life insurance. After the insurance period is over, if no incident has occurred in the insured, the bonus will be added to the total insured amount and the amount will be paid. Kathmandu. Due to the natural disasters in Nepal, there has been some change in the way Nepalese think about insurance.

Due to natural disasters like earthquakes, floods, landslides and droughts, there has been a change in Nepali people’s interest and thinking towards insurance. Still, the insurance business has not flourished due to the lack of information about insurance among the Nepalese.

As it is a means of securing the future of oneself and the family, insurance is indispensable because it reduces all kinds of risks in people’s lives to an extent.

The regulatory body of insurance companies in Nepal is Nepal Insurance Authority. Which regulates the operating insurance companies and brings new policies and plans. Recently, the Insurance Authority has been conducting insurance awareness programs in various accessible to remote places of the country. Which is commendable work.

If our life insurance companies do not provide claim payment, there is a provision that the insured can file an application with the insurance authority.Benefits of life insurance

Transfer of financial riskThe money that is earned in a person’s life is spent on the upkeep of his family, education, and health. It cannot always be the same situation, so life insurance should be taken in order to reduce the risk to some extent by taking into consideration the risk that may occur in the future. In terms of getting some relief from the big problems that may come in the life of the family, the transfer of the financial risk can also benefit from the insurance. Long term capital formation Even if Sanima wishes for a high financial level and a quality life, it cannot be fulfilled easily. For that, you have to save by making efforts, patience and planning. As the fee is paid at a fixed time in insurance, this will be saved in half. In this way, capital can be built and if the amount can be used for insurance, needs other than living can be fulfilled.

Children’s education :

Children can get insurance for their education as per their wish. Life insurance can be a solution if the benefit of educating children is thought about the future. The problems that arise during studies can be solved to some extent through life insurance.

For future planning :

Human needs are unlimited. People’s needs are increasing one after the other. Insurance is indispensable for fulfilling various future plans. Planning to meet any need requires saving money.Human needs are unlimited. People’s needs are increasing one after the other. Insurance is indispensable for fulfilling various future plans. Planning to meet any need requires saving money.

Freedom from debt problems Most of the people in Nepal are going through debt or debt. Due to the problems that may arise in the family tomorrow, there may be tension in the family.