Life Insurance


WHAT IS INSURANCE?

We face a lot of risks in our daily lives. Some of these lead to financial losses. Insurance is a way of protecting against these financial losses. For a payment (premium), an insurance company will take the responsibility of compensating your financial losses.

DEFINITION OF ‘LIFE INSURANCE’ 

A protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.

NEED OF ‘LIFE INSURANCE’

The goal of life insurance is to provide a measure of financial security for your family after you die. So, before purchasing a life insurance policy, you should consider your financial situation and the standard of living you want to maintain for your dependents or survivors. For example, who will be responsible for your funeral costs and final medical bills? Would your family have to relocate? Will there be adequate funds for future or ongoing expenses such as daycare, mortgage payments and education expenses ? It is prudent to re-evaluate your life insurance policies annually or when you experience a major life event like marriage, the birth or adoption of a child, or purchase of a major item such as a house or business.

Life insurance, in short, is concerned with two hazards that stand across the life-path of every person:

  • That of dying prematurely leaving a dependent family to fend for itself.
  • That of living till old age without visible means of support.

IMPORTANCE OF LIFE INSURANCE

  • Protection against untimely death
  • Saving for old age
  • Promotion of savings
  • Initiates investments
  • Credit worthiness
  • Social Security
  • Tax Benefit

TYPES OF INSURANCE PLANS

  • Endowment Insurance Plans
  • Term Insurance Plans
  • Whole Life Insurance Plan
  • Health Plan
  • Money Back Plans
  • Annuity/Pension Plans
  • Single Premium Plans
  • Limited Premium Paying Endowment Plans
  • Children Plans
  • Employer-Employee Insurance
  • Group Gratuity Schemes
  • Group Insurance Plans
  • Key-Person Plan
  • Partnership Insurance Plan

SERVICES WE OFFERS

  • Plan Portfolio Review
  • Premium Collection
  • Premium Paid Certificate
  • Change Of Nomination
  • Change of Address
  • Change of Bank Details
  • Change of Premium Paying Mode
  • Claim Settlement
  • Loan Against Policy
  • Assignment / Reassignment
  • Revival of Lapsed Policy