Life insurance is a tool that offers you cover for your life. Life insurance policies provide compensation to the nominee in case of loss of life of the insured person during the plan’s term. In order to claim this cover, a life insurance premium is paid to the company in a lump sum or throughout the tenure of the plan. There are several provisions (known as riders) under a life insurance plan that offer coverage against accidents, critical illnesses, etc. These can be purchased by paying an additional amount over the policy premium. *Religare Broking Ltd having license number CA0581 is a Corporate agent with ICICI Prudential Life Insurance, HDFC Life Insurance & Future Generali Life Insurance.
Surviving in the absence of a loved one can bring many hurdles. Religare’s Life Insurance offers financial assistance to the grieving family and allows them to live an economically stable life.
The rent for occupying a hospital room is charged over and above the treatment. Health insurance plans in India cover these expenses as well.
In the unfortunate event of loss of life, the insurer pays a guaranteed sum assured to the nominee. This allows you peace of mind, knowing that your nominee will receive the necessary funds to continue their life with dignity.
Life insurance plans can also double up as savings plan. They promote long-term savings and allow you to build a significant corpus over time.
Some of the traditional insurance plans offer the option of taking a loan against the policy. If you are ever in need of some financial assistance, you can borrow money from your insurer.
Life insurance premium can be used as a tax-saving tool. You can claim deductions on up to Rs. 1.5 lakhs in a year under Section 80C of the Income Tax Act of 1961.
In order to buy a life insurance policy, you need an identity, age, address, and income proof.
It helps to pick a brand that is trustworthy and enjoys a good reputation in the market. The claim settlement ratio is one of the best indicators of a company’s performance. The higher the ratio, the better are the chances of your claim getting approved.