What is Life Insurance?
Life insurance is a form of insurance in which a person makes regular payments to an insurance company, in return for a sum of money to be paid to them after a period of time, or to their family if they die.
A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. Typically, life insurance is chosen based on the needs and goals of the owner.
Types of General Insurance Policy:
|Whole Life Insurance||Unit Linked Insurance Plans – Ulips||Money Back Policy|
|Whole Life Insurance||Endowment Policy||Retirement Plans|
|Term Life Insurance||Savings & Investment Plans||Child Insurance Policy|
How Much Insurance should I buy?One should buy insurance cover as per their Human Life Value.
Human Life Value (HLV), as the name suggests, is the approximate financial value of the person seeking insurance. It consists of calculating the income you would've earned till your retirement age, plus the addition of any outstanding liabilities of any existing insurance coverage and investments.Which is the most affordable Life Insurance Policy?
We recommend all our clients to buy Term Plan to cover their risk as it is the most affordable & cheapest policy. Term insurance plans are life insurance plans which promise to pay a benefit only if the insured dies during the term of the policy. There is, usually, no maturity benefit payable under the plan. Term plans are, therefore, called pure protection plans.
Certain term plans give return of premium to clients, but we do not recommend as clients have to pay more premium compared to normal term plan.
To calculate your Human Life Value call us on 9586222111/ 9898300040
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