A Life Insurance can be defined as a contract between an insurance policy holder and an insurance company wherein the insurer pays a sum of money in exchange for a premium after a set period or upon the death of an insured person. Life insurance is an inimitable part of one’s financial plan. Opting for a life insurance policy can insure one from financial strain in case of an unfortunate event such as when someone passes away.
Type of Life Insurance Policies
Term Life Insurance Plans
Term Life Insurance plan ensures financial protection and stability to your family in case of any unforeseen events. It offers adequate coverage at an affordable price. There is no maturity value or survival benefit in a term plan. Term Insurance benefits can be offered through lump sum payment or regular income stream or a combination of both.
Protection: A term life insurance helps in securing family's future in your absence. From taking care of the daily expenses, to other, more significant expenses like professional education for the children and their marriage, having a safety net helps.
Tax Benefits: Apart from the benefit of protection, term insurance plan also offers you tax benefits under Sec 80C up to Rs. 1,50,000. tax limits.
Use our Life insurance Calculator to find out how much you need to save to maintain a comfortable lifestyle. Calculate Term life insurance quotes.
Step 1: Claim Intimation
Intimate and submit the required set of documents
Step 2: Claim Processing
Claim assessors will review the documents and guide you throughout the process
Step 3: Claim Decision
Claims team will communicate the decision. Payments will be made through electronic transfer.
