Life is one of the best things to happen in this universe. It is still an intriguing puzzle that from where did the life originated and what happens after death. But while living it is one of the best experiences any one can have. I am a person full of life and therefore believe that like any other thing it is important that we should be responsible towards life and our near and dear ones. Life insurance among many other things is one such means by which I believe I can show my gratitude towards life.
While knowing more about life insurance I came to know that it is not a new concept but can be traced back to the times of Vedic and Roman civilizations. In Rig Veda it was known as Yogakshema, a term for community insurance. Even the Romans had burial clubs that used to cover all the expenses of the members and help the surviving dependent financially. There were insurance plans by merchant artisans for covering the damages caused due to any kind of natural calamity, disability or death.
As the time changed, life insurance too has changed according to the needs of society. However, the basic premises remain the same that is of respecting life and covering the security of your family even after you have departed.
Today there are different forms as well as classes of life insurance ranging from temporary to permanent, a universal plan to specific plans like children or family protection. Plans are available covering any critical illness or disability I can have during my entire course of life. There are also some plans that take care of income security or my retirement.
Thus according to what I require insurance companies are creating new plans and policies so that I can derive maximum benefit from my insurance policy.
