Life Insurance

Life insurance applies to the constitutionally necessary agreement between a policyholder and an insurance company that gives financial protection for his/her family. The insurer agrees to offer the insurance benefit in exchange for regular premiums paid by the life warranted. Under life insurance, the ‘economic protection’ is provided in life cover, also recognised as sum assured. It is a pre-agreed amount that is payable in case of an untoward occurrence with the life protected. Your application must accurately disclose your current and past health requirements for the life insurance agreement to be enforceable. Also, you need to pay a single instalment or regular premiums as chosen when purchasing life insurance.

ICICI Prudential | HDFC Life | SBI Life Insurance

Types of Life Insurance

With so many different types of life insurance, you may be thing about which one to choose. We are here to assist you make that decision.

1. Term life insurance (Permanent life insurance)
2. Whole life insurance (Permanent life insurance)
3. Universal life insurance (Permanent life insurance)
4. Indexed universal life insurance
5. Variable life insurance (Permanent life insurance)
6. Variable universal life insurance (Permanent life insurance)
7. Final expense insurance (Permanent life insurance)
8. Group life insurance
9. AD&D insurance

Benefits

1. Child’s Future Planning
2. Financial Security
3. Disciplined Investment
4. Corpus production over the long term
5. Evacuation Planning
6. Tax Saving

Why? Get a Life Insurance Policy?

Life Insurance preparing for our death and the death of a loved one is not something that several of us want to do. But must support when the impoverished can help the left behind take care of arrangements and collect from the loss more comfortable. A life insurance policy can be an essential part of that support.

How does Life Insurance Policy Work?

A life insurance policy does no less than a lifeline for life, particularly in the prevailing theoretical times. Further, people in India regularly understand the importance of investing in a life insurance policy. In times of their functioning, most life policies work likewise in three steps:

1. Life insurance purchase
2. Premium Payment
3. Claim Filing

What is most likely to buy Life Insurance?

1. Married Couple
2. Individuals with Financial liabilities
3. Young Parents
4. People nearing retirement

Why is Buying Life Insurance a Good Idea?

A life insurance policy is financial compensation for potential incidents linked to human life. These involve death, disability, or retirement. If these accidents occur, they result in loss of income for the house. It is anywhere a life insurance policy works to benefit you and your family.

1. To secure financial support for your immediate family after you
2. To support your child’s education plans
3. To make a regular source of income in life
4. To take insurance benefits in case your incomes are affected due to a critical illnessa

Best of Luck