Why Choose Life Insurance?

Life insurance is an essential part of your financial well-being. It’s also great at providing peace of mind for the future. But did you know it can provide so much more than that? Life insurance provides benefits you may not be aware of. A lot goes into choosing life insurance coverage – policies are not one-size-fits-all.

Is Obtaining Life Insurance Complicated?

Getting life insurance may be even easier than you might think. Depending on the coverage amount you want and certain policy eligibility requirements, you may be able to get life insurance protection without even leaving your home. Connect with us to learn more.

How Much Coverage Do You Need?

This might surprise you, but coverage needs change over time. Choose life insurance that will grow with you through all of life’s changes – whether with a new spouse, new baby, new home, new job. You can be confident that your life insurance is with you every step of the way. 

Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified “term” of years. If the insured dies during the time period specified in the policy and the policy is active, or in force, a death benefit will be paid

Term Life Insurance

• For term insurance policies, the beneficiary can avail the lump sum only if the policyholder dies during the policy tenure. After the maturation of the policy, the insurance company is not liable to return the premiums paid. It is a pure life cover with no maturity benefits.

• These are offered for a fixed term, as suggested by the name.

• They do not include cash value, which explains why they are more affordable than other life insurance plans.

• One of the most traditional insurance plans, they are very reasonable and, therefore, easily accessible for everyone. A small annual investment towards a term plan makes the policy beneficiary eligible for a high lump sum amount as life cover and financial security on the unexpected death of the policyholder.

• Life insurance companies in India generally offer term life insurance policies for tenures of 10 or 20 or 30 or 40 years.

• One of the primary benefits of these plans is that they may come with a built-in option that enables the policyholder to convert them into permanent life insurance plans.

• It offers applicants to select the sum assured / premium amount and premium payment frequency – annual, semi-annual, quarterly to monthly, as per his/her convenience. The total premium amount can be paid in the form of a lump-sum as opposed to payments at pre-determined intervals.

• A term policy is suitable for policyholders who do not expect to get a return for the entire premium payment after maturity. Opt for a term life insurance from a company with a high claims settlement ratio, so that you are assured that your beneficiary can claim without hassles, in your absence.

Even as a child, our parents never stopped teaching us the value of having a long term savings plan. You may remember how, as a child, the best saving plan for you was to collect any spare change in the piggy bank.

Even while growing up, our parents would continuously emphasize on the merits of saving money for the rainy days. The underlying reason behind all these habits is the importance of having disciplined savings throughout life. Savings Plans can help you get onboard the savings train by building a corpus, create a stable source income, and secure the financial future of your loved ones, even in your absence.

Process of wealth creation starts with setting financial goals. Financial goals are your targets for a specific financial need. Some examples of financial goals are buying a house, buying a car, a child’s education or holidaying in your fav destination. Financial goals are different for everyone depending on their needs and priority.

Long term wealth creation requires proper planning and discipline in investing. Planning your expenses and investments are a must for wealth creation. Once you set your financial goals, you can start planning and investing your money to achieve these financial goals.

Choosing the right investment instruments is the second step towards achieving financial goals and long term wealth creation.

Key Features

• Flexibility to switch funds and create wealth
• Long term protection
• Guaranteed annual income
• Option for partial withdrawals
• Tax benefits

What is a Retirement Plan?
Retirement plans, also known as pension plans, are life insurance plans that provide you financial security once your active income stops. These pension schemes are insurance led investment plans that help build a large retirement corpus over a period for a comfortable and stress-free retirement.

You invest your earnings over the years in them, which is invested on your behalf by the insurer to generate income during your post-retirement years. You can withdraw the corpus as a lump sum or fixed monthly income as desired.

Why do You Need a Pension Plan?
With high cost of living & rising inflation, retirement planning has become a must. Pension plans help you cover all the expenses arising in your post-retirement years, including going on a vacation and pursuing a hobby, among others. It gives you financial independence in your golden years as you receive a monthly income.