Life insurance can offer several benefits to you and your loved ones, including the following:

• Financial Security

• When you buy a life insurance policy, the insurance company charges a premium in exchange for providing financial security to your beneficiaries in case of an unfortunate event of death. The proceeds from life insurance can be used by the beneficiaries as an income replacement to cover day-to-day expenses.

• Wealth Creation

• Some life insurance plans offer you the option to invest and grow your money. This enables you to stay financially prepared for your future needs. Life insurance can offer good returns and income.

The benefits of a non-life insurance policy are:

1. In case of health insurance, financial help is provided at the time of a medical emergency.

2. It  is mandatory by law to buy a third-party motor insurance policy. It can take care of the compensation to be paid to the third party in case of damage to property or life.

3. Home insurance covers the residential property of the policyholder against many unforeseen incidents, like fire, burglary, natural calamities, riots, etc. 

4. Travel insurance plans offer insurance coverage to senior citizens and children as well. These help with issues like loss of baggage, accidents, loss of documents, etc. in a foreign land.

5. Commercial insurance benefits the businesses with policies like employee benefits insurance, shopkeepers insurance, property and marine insurance, etc.