Life Insurance
Life insurance is a financial product that provides a lump sum payment (death benefit) to beneficiaries upon the insured’s death. It serves as a financial safety net for dependents and can also be used for investment and savings purposes.
Key Features
- inancial Protection: Ensures family members are financially secure after the policyholder’s death.
- Savings & Investment: Some policies offer wealth accumulation along with insurance.
- Loan Facility: Certain policies allow policyholders to borrow against the policy value.
Benefits to Consumers
- Types of Policies: Term Life, Whole Life, Universal Life, Endowment Plans, ULIPs (Unit-Linked Insurance Plans).
- Premium Payment: Single, Monthly, Quarterly, Semi-Annual, or Annual.
- Maturity Benefits: Available in certain plans like Endowment and Whole Life.
- Tax Benefits: Premiums paid and benefits received are eligible for tax deductions under applicable laws.
- Customizable Riders: Additional coverage for critical illness, accidental death, disability, etc.
Key Features
- inancial Protection: Ensures family members are financially secure after the policyholder’s death.
- Savings & Investment: Some policies offer wealth accumulation along with insurance.
- Loan Facility: Certain policies allow policyholders to borrow against the policy value.
Benefits to Consumers
- Types of Policies: Term Life, Whole Life, Universal Life, Endowment Plans, ULIPs (Unit-Linked Insurance Plans).
- Premium Payment: Single, Monthly, Quarterly, Semi-Annual, or Annual.
- Maturity Benefits: Available in certain plans like Endowment and Whole Life.
- Tax Benefits: Premiums paid and benefits received are eligible for tax deductions under applicable laws.
- Customizable Riders: Additional coverage for critical illness, accidental death, disability, etc.
Scheme
Endowment Policy
Unit Linked Insurance
