Category Archives: Life Insurance

Life insurance is insurance that protects your family in case something bad happens to you. You must definitely opt for this type of insurance to protect your nominees who can be your spouse, kids, parents or other family members in case you die or something bad happens to you. Even if your spouse earns, they will face a financial crunch when one person’s earnings are no more – is the financial cushioning a family needs to not face any difficulties in case they lose a loved one.

Life insurance has numerous advantages:

● Financial security – this is the most obvious advantage. For instance, if someone had bought a house and the person paying for it passes away, the entire burden falls on the family members left behind. To prevent such a situation from arising, life insurance money will be helpful. Not just to repay loans, life insurance will provide the financial stability needed for your loved ones to carry on life with the same quality and dignity that they did with you around.

● Pay-out options – the family can receive the money as a lump sum or monthly pay-outs.

● Cost-effectiveness – this insurance is very cost-effective if purchased at an early age. This is because one is less prone to health issues when they are young and thus can get attractive premiums.

● Peace of mind – knowing that your loved ones will remain financially secure is a major stress buster

● Tax benefits – Life insurance will give you tax benefits under section 80 ( C ) up to Rs. 1.5 lakhs

● Family and individual protection – There are certain life insurance plans that offer options such as critical illness cover, accidental death benefit, permanent disability benefit and waiver of premium benefit rider.

Why we should buy life insurance

Life insurance is a type of insurance policy that provides financial protection to the policyholder’s beneficiaries in the event of their death. The policyholder pays regular premiums, and in exchange, the insurance company provides a lump-sum payment, known as the death benefit, to the beneficiaries upon the policyholder’s death. The death benefit can be used… Read More »

Broker, general agent and insurance agent: what you should know

Insurance contracts can be marketed by different insurance intermediaries: general insurance agent, insurance or reinsurance broker, insurance agent, insurance intermediary agent. These intermediaries have obligations to provide information and advice to their clients. Insurance intermediaries: brokers, agents and representatives Since April 30, 2007, all insurance intermediaries must be registered and entered in a register, including… Read More »