Vishwakarma Consultancy

Human beings are also assets in the sense that they have the capacity to generate income themselves. Every human being has a finite life span and death is certain. But the timing of death is uncertain. If a person dies unexpectedly early in their working life then their family will lose the income that person would have generated in future had they survived for their entire working life. This is where life insurance acts to fill the financial gap left behind by the early death of a person. Insurance cannot prevent the insured event from happening. It can only provide compensation for the loss that comes as a result of the insured event happening.