Comprehensive Life Insurance
Life Insurance provides financial security to your family in case of unforeseen events. It ensures that dependents are protected against financial instability and helps in wealth creation, savings, and tax benefits.
Types of Life Insurance:
Life insurance policies can be categorized based on coverage and financial goals
Term Life Insurance
Offers pure protection with high coverage at affordable premiums.
Whole Life Insurance
Provides lifelong coverage along with a savings component.
Endowment Plans
Combines insurance with savings and returns a lump sum on maturity.
Money-Back Policy
Provides periodic payouts during the policy term along with life cover.
Unit-Linked Insurance Plans (ULIPs)
Offers both investment opportunities and life cover.
Child & Retirement Plans
Specifically designed for children’s education and retirement security.
Why Life Insurance is Important?
Financial Protection
Ensures your family’s financial stability in your absence.
Wealth Creation
Some policies offer savings and investment opportunities.
Tax Benefits
Premiums paid are eligible for tax deductions under the Income Tax Act
Peace of Mind
Provides long-term security and confidence for policyholders and their families.
FAQs
What is the best age to buy life insurance?
The earlier, the better. Buying life insurance at a young age ensures lower premiums and longer coverage.
Can I have multiple life insurance policies?
Yes, you can buy multiple policies depending on your financial goals and needs.
Is maturity amount from life insurance taxable?
In most cases, maturity proceeds are tax-free under Section 10(10D) of the Income Tax Act (subject to conditions).
What happens if I miss premium payments?
You may get a grace period to pay. If unpaid beyond that, the policy may lapse, but some can be revived.