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Taxation Taxation in the context of insurance is a complicated matter especially when you think of it from a global perspective.
However, if you go country-wise, the system would be simple to understand.
This way, they help the dependents live a normal life despite the demise of the concerning person.
He or she knows that his family or dependents won’t have to bear any hardships even if he dies.
This makes us one of the oldest online communities on the internet. Mobile version of Quickly send mails to your friends with your phone or check whether they are currently online in the chat.
Death is the only thing that is certain in this world.
However, if you buy a policy for your spouse, you are the policy owner while your spouse is the insured person.
In simple words, the person who pays the premiums is the policy owner while the person who is covered by the policy is the insured person. Most of the life insurance policies do not cover deaths due to man-made events.