Life Insurance

Life Insurance is one of the important financial products which has to be part of everyone's portfolio. In the unfortunate situation it helps bridge the Financial gap which we are at times not prepared for.

With the advent of various private players in the Insurance industry today we have a varied bouquet of products available that caters to the specific needs of the individual. There are various life insurance products on offer in the market such as Term Insurance, Endowment Plans, Money Back Policy, Single Premiums, and so on.

Term Insurance –

This is one of the simple vanilla offerings in Insurance. What makes us say that is because it's the cheapest and easiest to understand product. In this, the insurer pays a regular premium for a defined term and Sum Insured. In case of the demise of the insurer before the end of the policy term, the nominee gets the Sum Insured amount.

Endowment Plans –

This provides an assured return at the end of the pre-decided investment term along with death cover in case of premature death during the term. This is best suited for those who are looking to get a fixed amount at the end of tenure with slightly better returns than traditional investments.

Single Premium Policy –

As the names suggest this is the policy wherein the Insurer pays a premium just once and is covered for the agreed sum insured and tenure. The premium here is comparatively higher than other products but has the advantage of One-time payment so no issue of lapse in the policy for non-payment in later years.

Pension Plans –

This is a long-term offering plan. In this premiums are paid for a certain period with an assurance of a steady income after retirement. Repayment is offered either on a monthly/quarterly basis or as a lump sum.

Benefits of having Life Insurance:

Cheapest options available to ensure the flow of income in case of the early demise of the insurer.
Bridging the financial gap in case of an unfortunate event in the family of an insurer.
Ensures the long-term planning is unaffected by any misshaping.
Provides stable income option after retirement when other sources of income get limited.
Flexible payment options ranging from Single Term to Monthly / Quarterly / Yearly option.
Tax benefits.

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