Life insurance is a contract in which an insurer, in exchange for a premium, guarantees payment to an insured’s beneficiaries when the insured dies.
Protection Solutions
A term life insurance policy is a form of life insurance for protection. You pay a premium for a period of time – typically between 10 and 30 years –. If you die during that time, a cash benefit is paid to your family (or anyone else you name as your beneficiary).
Savings Solutions
Savings and investment plans from life insurance are the plans which channel your regular savings into long-term investment goals. Some of the plans which we offer are:
● Guaranteed sum assured at maturity
● Guaranteed bonuses and boosters depending on your investment tenure
● Additional life cover for the family
● A guaranteed Savings Plan offers maturity value as a tax-free lump sum amount.
Unit Linked Insurance Plan– It offers policyholders build wealth in addition to life security. Premium paid into this policy is bifurcated into two parts, one for the purpose of Life insurance and another to build wealth. This plan lets you partially withdraw the amount.
Money-back policy– A life insurance policy allows the insured to receive a portion of the sum assured at regular intervals rather than a lump sum at the end of the policy period. As a result, a money-back insurance policy is an endowment scheme with certain liquidity.
The amount received as payouts is known as the ‘Survival Benefits’. These are compensated over the policy term, and the remaining sum assured is paid at maturity, along with any vested incentives.
Retirement Solutions
A retirement or pension plan is a type of life insurance that provides financial stability and security after retirement. After you retire, you lose your regular income from employment. Investing in retirement plans can help you create a stable regular income stream. If you continue to invest until retirement, the plan will help you take care of your expenses after retirement. A retirement plan requires you to invest some of your income regularly during your working life. When you retire, the amount you create over the years will be converted into a regular income stream. Retirement plans also involve death benefits. Thus, if the policyholder passes away during the course of the policy, their beneficiaries will be provided with an assured sum.
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