Life Insurance

What is Life insurance?

Life insurance is a contract between an insurance policyholder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.
The policyholder typically pays a premium, either regularly or as one lump sum.
The benefits may include other expenses, such as funeral expenses.

Why Life insurance is a must?

Life insurance can provide a large payout when an insured person dies.
Proceeds from life insurance are tax-free and can pay off debts, replace income, and cover final expenses.
Life insurance costs are at their lowest when you’re young and healthy.
It’s wise to consider who might suffer financially (and what resources might help them) after death.
The sole purpose of life insurance is to protect your family financially after the demise of the policyholder

Types available in Life Insurance

Term Plan

What matters most is what lasts the longest - and families are forever. You weave countless dreams for your loved ones, you make sure their goals are prioritized first. But life is utterly unpredictable. An untimely death can jeopardize all these goals and threaten your family’s financial stability.

It provides financial security to your loved ones
Fixed premiums for the entire policy tenure
It is highly affordable
3-year claim payout guarantee
Covers all kinds of deaths globally - except suicide
Tax benefits
It is highly customizable

Endowment Plan

Endowment insurance is a type of life insurance policy that provides an insurance cover and savings opportunity. It allows you to save money regularly for a specific term. It is an excellent way to save your long-term goals like child marriage, education, building retirement funds, etc. If you survive the policy term, you get a lump sum maturity amount along with the accrued returns on the principal amount.

High returns potential
Tax Benefits
Low-risk investment

ULIP Plan

A unit-linked insurance plan (ULIP) is a product offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan.

Maturity benefits
Death benefits
Long-term investment benefits
Withdrawal benefits