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Call ExpertLife is full of uncertainties, but securing your family’s financial well-being shouldn’t be one of them. With our comprehensive life insurance plans, you can ensure that your loved ones are protected and provided for, no matter what life brings.
The primary benefit of a life insurance policy is that it offers long-term financial protection to the policyholder’s family in case of an eventuality, like death, disability, or illness. You can buy the best term insurance policy or life insurance plans to secure your family’s financial future.
Life insurance plans guarantee that you receive a fixed amount after a specific term. Your return can help pay the loan, child’s higher education, and other expenses.
Depending on the type of life insurance policy, insurers may offer the applicable benefit amount as maturity benefit at the end of the policy term. The maturity amount in different plans, like term return of premium plans, can also be the return of premiums paid throughout the policy tenure.
Certain types of life insurance policy plans, such as ULIP, endowment, or savings plans offer wealth creation benefits along with protection benefits. You can choose the types of plans based on your risk appetite and build a corpus for your future goals.
A Life insurance plan is a contract between a policyholder (life assured) and an insurance provider. Under this life insurance plan, the company promises to pay a fixed amount to the family members of the policyholder in case of policyholder’s death during a chosen policy term or after a specified time. In exchange, the policyholder pays a small money as a premium to the insurer. Some life insurance plans also offer a maturity benefit after the policy term ends and adds more value to your investment.
In various types of plans, the policyholder can choose for critical illness benefits or choose extra protection to cover against an unforeseen event because of an accident. Let’s learn about these benefits, features and types of life insurance plans below.
Pure Protection plans, also called term insurance plans, are designed to protect your family's financial future by providing a lump sum payment in case of your untimely demise.
A savings plan is a financial product that helps you plan long-term goals like buying a home, paying for children’s higher education, and more while providing benefits for life coverage.
Type of Life Insurance Plans | Coverage Offered |
---|---|
Term life insurance policy | Death Benefit |
Term plan return of premium | Life cover + return of premiums (in case of survival) |
No cost term insurance | Death benefit + Surrender benefit |
Whole life insurance plan | Death benefit |
Unit Linked Insurance Plan (ULIP) | Insurance cover + benefits of market linked investments |
Endowment life insurance plan | Insurance with savings benefits. |
Retirement Plan | Life cover along with saving benefits |
Child Insurance Plan | Insurance cover with investment benefits |
ife insurance is a contract between you and an insurance company. In exchange for regular premium payments, the company provides a lump-sum payment, known as a death benefit, to your beneficiaries upon your death.
Life insurance helps ensure that your loved ones are financially secure after you pass away. It can cover expenses such as funeral costs, debts, mortgage payments, and daily living expenses.
The amount of life insurance you need depends on several factors, including your income, debts, lifestyle, and future financial goals. A general rule of thumb is to aim for coverage that is 5-10 times your annual salary.
The main types of life insurance are term life insurance, which provides coverage for a specific period, and whole life insurance, which offers lifelong coverage and includes a savings component.
Premiums are based on factors such as your age, health, lifestyle, and the amount of coverage you choose. Generally, the younger and healthier you are, the lower your premiums will be.
Some policies allow for adjustments, such as increasing or decreasing coverage, converting term insurance to whole life insurance, or adding riders for additional benefits. Always check your policy details or speak with your insurance provider for specific options.