What is Life Insurance ?
Types of Life Insurance
Health Insurance policy that ensures that policyholder gets cashless treatment or expense reimbursement in case if your health is weak, expense consider incurred when availing treatment, the insurer would pay for treatment if the medical condition is covered by insurance policy.
Individual plans cashless hospitalization for medical expenses are much costly to get health insurance for your medical outlay, but in cashless facility provide the best treatment to recover good health with no worries.
Health Insurance Plans:-
Child Plan is an insurance and investment plan that financially secure your child future, higher education, and marriage. This child plan is designed to protect the future of your child in case of sudden death at the same time, it builds a corpus to be utilized to provide a secure finance service for your child life.
Child Insurance Plans :-
- – Vision Star Plan
- – Child Career Plan
- – Metlife Smart Child
- – Children Money Back Policy
Women life insurance plans are specially designed to take care of women requirements and their needs. This plan is for proper planning of their finances and it helps them to secure their future and who attached with them. Women insurance plan covered with financial and medical terms in the different stage of their life.
Women Insurance Plans :-
Retirement plans manage your savings to accumulate in a period of time and give a steady income after retirement, good amount of savings in this plan is the best pension scheme helps to secure your cash flow for daily needs in routine
When regularly invest your money in retirement plan it transforms your investment into compounding effect give an extra saving to your investment, then choose the best retirement plan which gives you the best comfort in your entire life.
Retirements Insurance Plans :-
NRI Insurance has foreign nationalities and live in foreign countries, and to know more about policy, how to identify the appropriate type of policy and details are given below.
In the case of an unexpected event, financial protection of the family states that due to an accident, the main purpose of death, illness, disability, insurance is the provision of old age, house construction. Policies are used to get income tax exemptions, and to include such as financial institutions as collateral security, housing loans in various types of financing facilities are included.
To meet the diverse social needs of different people, many policies, such as whole life policy, endowment policy, joint life policy, money back policy provide periodic integrated payments term insurance policies which have a lower premium but higher risk cover. Different types of benefits are covered in each NRI scheme, but its depend upon the plan and selection.
Once the short list of plans is made, additional rates like premium rates and calculations, more details such as a policy, insurance, premium payment method (Annual, Half Yearly, Quarterly or Monthly) also need to complete the formalities to get the required kind of policy benefits.
Life Insurance Calculator
Benefit of Life Insurance
- – Life insurance provides an infusion of cash for dealing with the adverse financial consequences of the insured’s death.
- – Many life insurance policies are exceptionally flexible in terms of adjusting to the policyholder’s needs. The death benefit may be decreased at any time and the premiums may be easily reduced, skipped or increased.
- – A cash value life insurance policy may be thought of as a tax-favored repository of easily accessible funds if the need arises; yet, the assets backing these funds are generally held in long term investments, thereby earning a higher return.
- – Life insurance enjoys favorable tax treatment, unlike any other financial instrument.
One of the most important reasons to purchase life insurance is to ensure your loved ones are provided for financially. Life insurance is also useful in helping your survivors pay bills and debts after your death, as well as for funeral expenses. It may be used for wealth accumulation and distribution as part of an overall financial strategy.
Typically, when you buy an insurance policy, it is a contract or an agreement that you are entering into with the insurance company. It is a fixed price that you are willing to pay in order to remain insured for the term of the policy. Thus, such a price is pre-fixed and the insurance company cannot increase the same later.
Ideally, the term of your policy should be equal to the number of years your family will be dependent on you financially. However, ensure that your insurance payment period is also equal to the number of years you plan to work. If you are one of those gentlemen who has been lucky to have a wife that has always been a homemaker, please ensure that you have a pension policy or a whole life policy that takes care of your wife’s needs, in your absence as well.
The policy can be surrendered for cash only after the premiums have been paid for at least three years. The minimum surrender value allowed is equal to a certain percentage of the total amount of premiums paid excluding the premiums for the first year and all extra premiums or additional premiums for accident benefits that may have been paid.
It implies changing of your current contribution allocation percentage into various funds from now onwards. It does not affect the allocation percentage of the contribution already invested.
The period between the date of subscription to an insurance-cum-pension policy and the time at which the first installment of pension is received. Such policies generally prescribe a minimum and maximum limit on the deferment period.