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Life Insurance

  • Insurance is a contract between the policyholder and insurer wherein the insurer promises to cover financial loss occurring due to certain unfortunate events. In India, there are two broad categories of insurance: General Insurance which includes Health Insurance, motor insurance etc. Life Insurance which is further divided into categories like ULIP, Term Insurance, Endowment, Annuity etc.

  • The core objective of Life insurance is to provide financial support to the family of the policyholder in case of his/her demise. Along with the death cover, some life insurance policies also come with a saving and investment component. Thus, life insurance is the key to financial security for policyholders and their families in times of uncertainty.

Reasons for Taking Life Insurance

Life coverage

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

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.

Tax benefits

under section 80 C of Income Tax Act, life insurance amount up to the limit of Rs. 150000.

Bonus on investment

Most of the insurance policy 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

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 the 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

  • Please Take care of your estate planning needs

  • Look at other retirement saving/investment vehicles

Associated With

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