Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Life insurance provides great benefits to the family of the deceased after his/her death in form of financial/ monetary support to help them sustain their livelihood. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. It is of utmost importance to have a life/illness insurance to have a failsafe option you can fall back on in case of a life threatening disease or death of the insured. The life insurance provides monetary support to the family of the affected to help them pull through the trying times without worrying for their sustenance.
A Unit Linked Insurance Plan (ULIP) can help you achieve a range of long-term investment goals, such as retirement preparation, education funding for your kid, and asset accumulation. The minimal lock-in duration of five years ensures investor restraint while still providing high market-linked returns. The best ULIP offers life insurance while simultaneously investing a percentage […]
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Ever thought about whether you are financially prepared or not, Meet with a severe accident and end up in total disability? Diagnosed with chronic illness such as cancer or other deadly diseases? Have an untimely death? For instance, you are the sole bread earner in the family. If you end up in any of the […]
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Many people consider life insurance as something they have to protect their family should the worst happen. However, there are other reasons you might want to get covered. If you are an entrepreneur, then you may have other people relying on you and the salary you provide. This means that if anything happens to you, […]
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If you are about to purchase a term policy, you have every right to know how useful it might be for you in the long run. Such a thing is essential so that you do not face any complications later. But before you hop into buying it, you need to get all your queries resolved […]
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Life is full of surprises and uncertainties can take place anytime. If you want to keep the life of your loved ones sustained from any unforeseen events, you need to have a sure-shot plan to keep them secure. The most reliable option available is to choose a term insurance plan that assures financial security for […]
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In recent years, the life insurance industry has undergone major changes. Gone are the days where life insurance meant typical endowment covers. With time, varied options have emerged with a broad range of features. Nowadays, online term insurance is gaining popularity. Plans such as money back policy, standard life cover, or pension insurance with consistent […]
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If there is one thing that the Coronavirus has taught us this year, it is – Life is uncertain. Should something happen to the breadwinner of the family suddenly, then the financially dependent members may suffer a massive monetary crisis in their absence. This is when term life insurance comes into the picture and helps […]
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SBI Life Smart Money Back Plan is a Participating and non-linked Money Back Plan. This life insurance plan will provide you with regular cash inflows. It has the dual benefit of that provided by the life insurance companies and regular income to help you meet your financial needs. This plan will help you fulfill several […]
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India is expanding massively in the life insurance market. The current rank of India in the same is 10 among 88 global countries and its share is 2.36% in the same. With this apparent boom in the insurance market, there has emerged a ton of insurance providers to choose from, a lot of confusion in […]
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Purchasing a life insurance policy is important since it intends to provide financial coverage to you and your family members in case of an emergency or any unexpected event. Now, comes the most important question- Should you opt for a private insurance provider or government insurance provider? At present, there are a total of 24 […]
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