LIFE INSURANCE

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Life Insurance

As the name suggests, Life Insurance secures your life from financial losses, which occurred due to the unexpected or premature death of the insured. In life insurance, the insured pays a fixed amount of money in the form of premium, to the insurance company,

In return for which company promises to pay a certain sum of money to the family or legal heir of the insured, on his death or mishappening. The money the company pays depends upon the contract and premium paid by the insured.

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Reasons For Taking Life Insurance

Life coverage

Life Insurance provides life cover to the policyholder, for securing adverse financial consequences or death of the insured. It may be in the form of critical illness, partial or total disability.

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Death benefits

Life Insurance provides secure future to the family of the policyholder, in case of his uncertain death. In case of death, the insurance company pays the full amount (amount + bonus) to the beneficiary.

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Tax benefits

under section 80C of the Income Tax Act, life or term insurance premiums paid are eligible for tax deductions up to 1.5 lakhs.

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Bonus on investment

most of the insurance policies give bonus amount along with the actual amount at the time of maturity. The bonus amount is quite good, which is not available in any other kind of investment.

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You will do anything for the ones you love.Thinking about why you need life insurance can be an emotional and stressful task. However, life insurance is one of the most responsible decisions you can make to help ensure that your spouse, children or other loved ones can continue to enjoy the quality of life they deserve.

Life is unpredictable. So it is important to ensure that your family and loved ones are taken care of financially in case something should happen to you. This is where life insurance comes in. It can provide some financial peace of mind if the worst were to happen. What is Life Insurance? Life insurance offers a way to replace the loss of income that occurs when someone dies.

Life insurance is insurance for you and your family's peace of mind. With a life insurance policy in place, you can:

  • Provide security to your family
  • Protect your home mortgage, loans, credit card borrowings etc.
  • Provide finance to your loved ones to achieve their goals in your absence
  • Ensure that your family is able to maintain their lifestyle, no matter what happens
  • Take care of your estate management needs
  • Look at other retirement saving/investment vehicles