Life insurance
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Do you believe in the future? If yes, then purchasing life insurance and health insurance should be a must in your next plan. Let’s discuss the difference between Life Insurance and Health Insurance.
Life Insurance is a bond signed between two parties – the insured person and the insurance company. The insurance money matures once the person insured dies and the money is giving to the family. The bond is breakable only when the insured person dies. You have to pay a sum call premium during your lifetime. Usually, the death benefits are tax-free.
Health insurance is a contract between the insured and the insurance company that provides financial assistance to the insured during medical emergencies. For health insurance as well, one has to pay a premium. During a medical emergency, a health insurance company reimburses a part of or the whole expense covered in your health insurance.
Both life insurance and health insurance have become a necessity in today’s unexpected world where medical expenses are costly.
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