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GET THAT COMFORTABLE LIFE WITH LIFE INSURANCE Finance Articles | February 19 , 2013
Life Insurance is applied by people who wish to have the future of their family secured in the face of any problem. There are many life insurance companies in India. Out of these Life Corporation of India is the only public sector company of India. Rest is private companies. One can compare the different products offered by the companies online and also apply for them on the internet.
In India, there are many people who buy a life insurance to secure their future. It is a means to protect their family in case of any adverse situation. A life insurance, can be termed , as a contract between an individual (the insured) and the person who insures (the insurer) him, wherein the insured pays a premium to the insurer. In return, the insurer pays a certain amount of money to the beneficiary of the insured , upon the death of the insured.
There are 23 Life Insurance Companies in India. Out of these, Life Insurance Corporation is the single public sector insurance company, while the rest are private companies. All the insurance providers in India are regulated by the IRDA. The IRDA overlooks the functioning of the insurance companies. There are so many insurance products available in the market that it becomes difficult to choose from them. Today , in the fast paced life that everyone lives, it becomes difficult to take time out and hunt for the right insurance product. One can simply, compare the services offered by the insurance companies online. Every dealer has an active web portal on the internet. Not only this , they can also apply for it online.
One of the many private companies that provide life insurance in India is the Max Life Insurance.? Max Life Insurance is a joint business enterprise between Mitsui Sumitomo Insurance Company Limited and Max Life Insurance Company. They started their operations in April 2001. In mid-2012, the Mitsui Sumitomo Insurance Company bought out their stake out of New York Life Insurance Company. As a result, the company name was .