The principle behind life insurance is simple, in theory. You pay small amounts after regular intervals, so that, a beneficiary of your choice gets a sum of money, in your absence, approximating what you would have earned. The idea is that should your family suffer a crisis that transcends finances, at least their finances won't be impacted too negatively. Your spouse and kids won't have to take on multiple jobs, beg for alms, nor lose the house and car. Many people don't understand why they need life insurance, when they should buy it or what type of policy would best meet their needs.
Five-year health insurance moratorium reduces wrongful claim rejections for genuine non-disclosures while preserving fraud checks, so policyholders must stay transparent and maintain continuous cover for protection.
The Life Insurance Corporation of India (LIC) is launching two New Jeevan Sathi joint life insurance plans — Single Premium and Limited Premium — in June 2026. Check eligibility, policy features, benefits
