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Life Insurance

A life insurance plan is an agreement, where your family is assured a sum payout, after you die.<br><br>https://www.sbilife.co.in/

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Life Insurance

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  1. Life Insurance

  2. Life Insurance Plans Life is unpredictable. You want to ensure your family is financially secure in your absence. Life insurance plans fulfills this goal. A life insurance plan is an agreement, where your family is assured a sum payout, after you die. To enable this, you have to pay premium sum periodically to the insurer or assurer (the company).

  3. Types of Life Insurance in India Type 1: Pure Insurance Plans This includes Term Plans • High Coverage • Death Benefits • Renewability • Convertible Type 2: Insurance Plus Investment Policies This includes ULIPs, money back, whole life and endowment policies. • Financial protection plus investment scope • Market linked returns • Death benefit • Flexible premiums • Assured bonus • Transparent

  4. What Does This Plan Offer • Term Insurance - Suitable for investors with life insurance needs for 10 years or less. Provides maturity benefit and is affordable. • ULIPs - Single package including insurance cover, tax benefits and long-term market investments. • Whole Life - Fixed premium options, suitable for young age investors. • Money Back - Suitable for investors in need of funds for short and long term needs along with insurance cover • Endowment - Apt for people who wish to save for unfortunate setbacks in life.

  5. Benefits of Taking a Life Insurance in Today’s Time • To build a financial corpus for family • Wealth generation • Financial protection • Tax benefits • To encourage savings habit • Money when you need it

  6. Tips for Taking Life Insurance • Consider your life stage, income and family members to decide coverage amount • Research well • Look at claim settlement ratio of the company • Consider rider options • Consider objective; financial protection, investment or both. • Check premium amount and payment frequency

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