We often neglect/ignore investing in an insurance thinking that it is a waste of money. But have you ever thought how will your family survive after you meet with an unfortunate event and there is no way getting back? In such a situation, if you have bought a life insurance policy, then you do not have to stress yourself out.Read more
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
A life insurance policy is an agreement between the insurance company and the insured, where the insurance company assures payment of the sum insured by the policyholder upon his demise to the beneficiaries mentioned in the insurance policy agreement. The policyholder has to pay premium to the insurance company every month against the sum insured by him/her. The main objective of buying a Life insurance policy is to secure your dependents, as they will receive the financial assistance from the insurance company after your death.
If you wish to keep your dependents financially sound to and help them lead a normal and peaceful life even after your death, it is essential you buy the right life insurance policy at the right time.
In this fast paced world, a life insurance policy is therefore not an option but a smart and wise choice.
A Life insurance policy offers the policy holder coverage against unforeseen risky life events. This keeps your family and you secured from any unpredicted and unfortunate situation that may lead to serious consequences.
Once you have bought a life insurance policy, your family and you can have a safe and secure future. The insurance company provides the entire sum insured along with the bonus to the family of the policyholder in case of any unforeseen and unfortunate event costing the insured’s life. A life insurance policy also protects individuals who are aging and have a shrinking income such as accident victims or retiring staff members. A number of policies are available to meet the varying requirements.
A life insurance policy provides better return on investment as compared to other investment schemes. This is because many life insurance policies offer bonus benefits that lacks in other investment schemes. The amount you invest in a policy is secure and will provide better returns, as the amount insured is given back either after the death of the policyholder or the completion of the insurance policy term .
Many people are unaware of the fact that a life insurance policy can be utilized as a safeguard to get a loan. It offers loans at better interest rates as compared to most others. You can get a loan from the same insurance company or bank where you’ve bought your insurance policy from. An individual can get a loan amount equivalent to the surrender value of the life insurance policy. The maximum loan a person can get also depends on the type of life insurance policy.
Many people have no idea about this facility, but it is essential to know that the mode of transaction majorly affects the premium rates of a life insurance plan. An insurance company offers savings in terms of service costs if the policyholder chooses to make the premium payments online. The main reason is because the transaction is done digitally and involves no cost of paperwork.
These are a few benefits but the sole benefit still remains peace of mind and security.
Every person has different needs, requirements and desires. Also, each one has a specific budget to invest in a life insurance policy. As such insurance companies offer a wide range of life insurance policies to meet the varying demands of the people. Other factors that are responsible for the variations are income levels, age group, etc.
Below is a list of the different types of life insurance policies that are offered by the companies.
We all decide to invest in a life insurance policy to safeguard our loves ones from any problems they might face after us. But there are times when we think we should discontinue/cancel our life insurance policy because the premiums are getting burdening or you are intimidated by someone that it is a waste of money or whatever be the reason. But we should stop ourselves from such diverting thoughts and for once carefully think before terminating any policy, specially a life insurance policy. It is mandatory to have a insurance coverage if you have a family that is financially (monetarily) dependent on your income or if you have amounts of loan that may become burdensome for your near and dear ones once you are no more. Below are some important reasons that will help you understand why you shouldn’t cancel/terminate your life insurance policy.
Discontinuing or cancelling a life insurance policy is a personal choice. However, it is strongly recommended that you find another alternative instead of terminating your policy, because if you do so you will be the one at loss. If you are finding it difficult to pay the premium, talk to the concerned company and opt for a cheaper policy or find out other ways to help yourself. But do not be without a policy. Even if this thought comes in your mind after everything, just focus on the reason why you opted for a life insurance cover in the first place
14 Oct 2021With many novel diseases surfacing, life seems to be fleeting...
14 Oct 2021Although you may be past the opportunity to buy life insurance...
14 Oct 2021If you are the bread earner for your family, no time is bad to...
14 Oct 2021The Indian arm forces are our pride. They risk their lives to...