What is Life Insurance Policy?
A life insurance policy is a contract between a policyholder and an insurance company. In a life insurance policy, the insurance company promises to pay a sum of money to the loved ones of the policyholder in case of death of the policyholder during a certain period. In return, the policyholder pays a small amount as premium to the insurance company.
In certain types of policies, the policyholder can also opt for critical illness benefits or choose additional protection to cover against an unfortunate event due to an accident.
What are the benefits of having Life Insurance?
- Peace of Mind/ Financial Security
- Wealth Creation
- Tax Savings
- Buy Young, Save More
- Death benefit
How are life insurance plans suitable for your needs?
- Saving for children’s education
- Financial Protection in case of major illnesses/health issues
- Retirement planning