Life Insurance

Life Insurance

A life insurance policy is like a financial backup plan. You pay your insurance company a fixed premium regularly to keep the policy active. If something happens to you, your life insurer guarantees to pay a large sum of money to your family or whoever you choose as designated nominees.

Types of Life Insurance Plans

Term insurance is a type of life insurance that provides financial protection for a set period. If the policyholder passes away during this time, the insurance company pays a death benefit to the beneficiary.

Various term Insurance plans offer additional protection through riders like accidental death benefit, accidental total permanent disabilities, and critical illness. These riders add an extra layer of financial protection on top of the sum assured provided by the term plan.

Popularly known as the Guaranteed Return Plans, they are useful for those who need life coverage and fixed returns. If you outlive the policy term, your insurer pays a lump sum of money.

An endowment plan is designed to provide life cover and help build savings habits over time. On the other hand, in case of death at any time before maturity by accident or natural causes, etc., your nominees will receive the death benefits.
Pension plans are considered to be long-term investment plans that provide financial protection as well as post-retirement incomes. With a pension plan, the policyholder pays regular premiums, and after retirement, the insurer provides the insured with a consistent income.

The designated beneficiaries will receive the death benefit in the event of the policyholder's demise, either before or after retirement.
A proper financial plan that ensures financial support at every milestone of your child's life. Child insurance plans are specially structured to meet a child's financial needs. Hence, to help your child fulfil all their life goals, it’s advisable that you invest in a child plan.
Unit Linked Insurance Plans (ULIPs) are a type of life insurance plan that offer the dual benefits of life insurance and investment. A portion of the premium paid for a ULIP is invested in a variety of market-linked funds, while the remaining portion is used to provide life insurance coverage.

Term insurance is a type of life insurance that provides financial protection for a set period. If the policyholder passes away during this time, the insurance company pays a death benefit to the beneficiary.

Various term Insurance plans offer additional protection through riders like accidental death benefit, accidental total permanent disabilities, and critical illness. These riders add an extra layer of financial protection on top of the sum assured provided by the term plan.

Popularly known as the Guaranteed Return Plans, they are useful for those who need life coverage and fixed returns. If you outlive the policy term, your insurer pays a lump sum of money.

An endowment plan is designed to provide life cover and help build savings habits over time. On the other hand, in case of death at any time before maturity by accident or natural causes, etc., your nominees will receive the death benefits.
Pension plans are considered to be long-term investment plans that provide financial protection as well as post-retirement incomes. With a pension plan, the policyholder pays regular premiums, and after retirement, the insurer provides the insured with a consistent income.

The designated beneficiaries will receive the death benefit in the event of the policyholder's demise, either before or after retirement.
A proper financial plan that ensures financial support at every milestone of your child's life. Child insurance plans are specially structured to meet a child's financial needs. Hence, to help your child fulfil all their life goals, it’s advisable that you invest in a child plan.
Unit Linked Insurance Plans (ULIPs) are a type of life insurance plan that offer the dual benefits of life insurance and investment. A portion of the premium paid for a ULIP is invested in a variety of market-linked funds, while the remaining portion is used to provide life insurance coverage.
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