Life insurance
Amid uncertainty, insurance is your best friend. Protect yourself financially and let us assist in selecting the ideal coverage by analyzing your needs, future plans, and liabilities.
Different types of
life insurance policies?
We provide everything you need! Select the options that suit your specific requirements.
Various benefits of life insurance
Financial Stability
Life insurance policies provide long-term financial stability to the policyholder's family in the event of an unfortunate incident.
Death Protection
Life insurance provides financial protection to the nominee in the form of a death payout, which includes the sum assured and accumulated bonus.
Maturity Benefits
Some life insurance plans offer the full premium amount paid during the policy term when the policy matures.
Guaranteed Returns
Guarantee a fixed amount after a specific term, which can be used to pay for expenses such as loans or a child's higher education.
Wealth Building
ULIPs offer wealth creation benefits by allowing policyholders to invest their premiums in different funds based on their risk appetite.
Tax Savings
Policyholders can save on taxes by claiming deductions on life insurance premiums under section 80C of the Income Tax Act, 1961.
Frequently asked questions
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What is a Life Insurance?
Life insurance is a contract between you and an insurance company that provides a sum of money to your loved ones or beneficiaries if you pass away. This money can be used to cover expenses and provide financial support for your family after your death.
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How do I decide on the life insurance cover I need?
The benefits that come with maturity of a policy are largely determined by the premium paid throughout the policy's term. The amount of premium paid is influenced by various factors including lifestyle, spending habits, income, expenses, and debt obligations. Experts suggest obtaining coverage that is equivalent to about eight to ten times one's annual income.
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What happens if I do not pay the premium on time?
If you miss a premium payment, you have up to 30 days grace period to make the payment. Failure to pay within this period will result in the policy becoming void, causing loss of benefits. To reinstate coverage, you must pay a revival premium.
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Why is Life Insurance Useful?
Having life insurance ensures financial stability for your family in case you cannot earn due to accident/illness. The policy also provides benefits to beneficiaries in case of untoward events, allowing them to maintain their lifestyle.
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Is Life Insurance mandatory?
Life insurance is not mandatory in India, but it is highly recommended for individuals who have dependents or financial obligations such as mortgages, loans, or other debts. Life insurance can provide financial security and peace of mind for your loved ones in the event of your unexpected death. Ultimately, the decision to obtain life insurance is a personal one and depends on an individual's circumstances and needs.
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Is there any Tax benefit if I buy Life Insurance?
Yes, Life insurance premiums are eligible for tax benefit U/S 80C.
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