pays out a sum of money either on the death of the insured person or after a set period
What life Insurance Covers
Refers to that type of insurance that pays out a sum of money either on the death of the insured person or after a set period.
Key Features of Life Insurance Policies
In this case the insurance company is liable to pay the life cover to your nominee in case of any unfortunate event. This life cover ensures to keep you and your family secured always in an unfortunate event.
Life Stage planning
Life insurance companies offers plans customized for different stages of life. Every family has certain goals for which a lot of planning is required. These goals may include planning for your kid’s education, buying a house, planning funds for your retirement, etc.
Long term saving
Life insurance helps you in saving and building your wealth. It is a systematic way to safeguard you financially and take care of your future plans like a child’s education, marriage, retirement etc.
always be on the posotive
Benefits of taking Life Insurance Covers
One can meet your short-term and long-term financial goals without worries.
Opt for a Bank Loan
You can opt for a bank loan on your life insurance plan.
Provides Life Cover
The life insurance company offers plans that provides you a life cover. The policyholder is covered against the risk of death either for a specific term or for the entire life.
Financial Security to Family
In case of an untimely death of the life assured, the life insurance company pays the nominee/beneficiary the sum assured (coverage). This way, life assured’s family is financially secured and wouldn’t have to undergo the hardship to make ends meet.
The premiums paid on life insurance covers are subjected to tax relief