Life insurance is a legal agreement between you and the Insurance Company to secure your Family's future in case of your untimely demise. It provides with a pre-determined amount to the beneficiary during the contract period. The primary purpose of Life Insurance is the protection of your entire family in case of your death. Now a day's Life insurance also acts as a tool to plan effectively about your future Savings, your child's education needs etc. So apart from covering your life, it is an effective tool to augment your wealth
There are a lot of insurance companies one can choose from. It is important to suit a plan and company that best serves your individual need.
Benefits of Life Insurance
Protection Financial interests of one's family remain protected from circumstances such as loss of income due to critical illness or death of the policyholder
Retirement Security & Financial independence to fulfil post retirement needs
Child Meet your Child's future financial needs
Life insurance is the only investment option that offers specific products tailormade for different life stages. It thus ensures that the benefits offered to the customer reflect the needs of the customer at that particular life stage, and hence ensures that the financial goals of that life stage are met.
The life insurance premiums is primarily based on following factors-