In Marathi, life insurance is referred to as "jivan bima". It is a type of insurance that provides financial protection in the event of the policyholder's death. The death benefit is paid to the beneficiaries (usually the policyholder's family) to help them cover expenses such as funeral costs, outstanding debts, or everyday living expenses.
Life insurance is an important part of financial planning, as it can provide security and peace of mind in the event of an unexpected death. It is important to choose a life insurance policy that is right for you and your family, as it is a long-term commitment.
There are two main types of life insurance policies: term life insurance and whole life insurance. Term life insurance provides coverage for a specific period of time (usually 10-30 years), while whole life insurance provides lifelong coverage.
Choosing the right life insurance policy depends on many factors, including your age, health, financial situation, and family circumstances. It is important to consult with a financial advisor to determine which type of life insurance is right for you.
