Life insurance is preferred by ancestors which is costlier contained by lingo of pay.why not personal accidentis opt?
personal accident policy is cheaper which have table of benefits costing around 200rs/lac.Life insurance proves to be costlier in lingo of premium&in long run.whereas general insurance is short occupancy contract costless too
Answers:
Cost should not be the sole criteria. This is a deeply myopic view. Because Life Insurance pays a benefit due to destruction it is the better choice for protecting loved ones against the devastating loss of income that might occur if a Member dies pre-maturely.
A Personal Accident Policy is a accurate choice to supplement a life insurance policy -- but because it excludes intuitive causes, it should not be relied upon as the with the sole purpose protection for your family.
Personal Accident Insurance may be an attractive odds when a person
1. enjoy a particularly stirring lifestyle, and wants other protection against death or dismemberment from unexpected causes.
2. have very stirring family member, and wants protection against the unplanned death or dismemberment of a spouse or dependent child.
3. cannot qualify for natural life insurance due to recent and substantial medical issues, but still wants protection against release or dismemberment from accidental cause.
Personal quirk insurance covers only on loss or disability due to accident. And chance need not be a must within every death, but demise is certain to everybody. More over you will capture some returns on your survival for your oldage.
good luck
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because accident insurance on the odd occasion pays out. you have to die by bodily injuries to receive such stipend. its really a complete waste of money. near ordinary enthusiasm insurance, it pays out no matter how you die.
permanent status insurance is cheapest in the long run.