Life insurance is explained from the angles of "death benefit" and "survival benefit". Death benefit- term assurance-is explained as an answer to the question what would happen to my dependents "when I am not there". Survival benefit-pure endowment-is explained as an answer to the question how to accomplish expectations "while I am there". Maturity claims and pensions are nothing but survival benefits. Both life insurance and pensions have relevance at three levels, viz., the individual, social and national. The coming year will bring more professionalism in the industry. Insurance professionals should help the fraternity move from the awareness level to insight level as far as the subject is concerned.

Awareness is not knowledge. Knowledge is not understanding. Understanding is not insight. Awareness comes from information. Most of the articles that appear in newspapers and other periodicals emanate from the level of information only. Knowledge is a step above the information level. Here the writer or speaker knows the subject and its contents. Understanding is a new dimension of knowledge. Here the writer should read between the lines. When a writer or speaker is endowed with insight his views and vision are on an altogether different plane and they do carry acceptance. This is equally applicable to professional publications too. They possess insights into their subjects.

There is a saying, the tree could not be seen because of the leaves. Interpretations and literature on various subjects block the very core content of subjects. I have followed a simple style of explanation to throw an insight on life insurance and pensions.

I would like to take a real life situation. When our little son or daughter goes to attend the kindergarten examination or class 1 test the mother would send an additional pencil with the child. It is so done so that the child should not come back without finishing the examination even if the lead of the first pencil breaks. The mother is taking a precaution that provides a security feeling that the child would be able to complete the examination. Simply speaking, this is "insurance"a precaution against probable losses that may result from unexpected events at unexpected times.

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