Mr. Kaliappa was a 42-year-old man who worked as a manager at a local manufacturing company. He was the sole breadwinner for his family, which included his wife, Sumathi, and their two children, ages 8 and 12. Kaliappa had always believed in the importance of being prepared for the unexpected, so he had purchased a life insurance policy several years ago.
Unfortunately, Kaliappa’s worst fears came true when he unexpectedly passed away from a heart attack. His family was devastated by the loss, but they were able to find some comfort in knowing that Kaliappa had prepared for this possibility by purchasing a life insurance policy.
The life insurance policy that Kaliappa had purchased provided a death benefit of 10,00,000. This money was used to cover the costs of Kaliappa’s funeral and other final expenses. It also provided ongoing financial support for Sumathi and their children.
Sumathi was able to use the life insurance money to pay off the debts, which provided her with financial stability during a difficult time. The money also helped to fund their children’s education, which was one of Kaliappa’s main priorities.
Sumathi was also able to use the money to make some changes in her own life, such as going back to school and starting a new career. The financial security provided by the life insurance policy allowed her to make these changes without worrying about how she would support her family.
In short, Kaliappa’s life insurance policy helped his family during their time of need. It provided them with financial stability and security, which allowed them to grieve and move forward with their lives. This case study highlights the importance of having a life insurance policy in place to protect loved ones in case of unexpected events.
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