Insurance against risk of loss to one's life is covered under Life Insurance. Life insurance is also known as long term insurance or life assurance. It includes Whole Life Assurance, Endowment Assurance, Assurances for Children, Term Assurance, Money Back Policy etc. To buy or get information on life insurance products offered by us, please click on the link above.

Insurance plans are must for a secure future. Mishaps can happen anywhere and anytime. Insurance plans comes to help in such cases.

Insurance planning is an important aspect of life for every working individual or family. Taking an insurance policy is important not just as a safeguard against unprecedented calamities. It also ensures the future financial well being of one's dependents.

Types of Insurance Plans

Life

Life insurance is quite popular, especially in India. It covers the entire life of the policy holder. Apart from that, it also offers a lump sum payment after a pre-determined period; this makes life insurance policy an investment vehicle. Also, a life insurance policy enables tax savings.

Life insurance is especially appropriate for people who may not have savings when they are older, or require to provide for financial dependents.

Term

Unlike life insurance, a term policy covers the policy holder only for a fixed period. Term insurance policy does not offer investment options—there are no returns if the policy holder survives the term of insurance cover.

However, term insurance is much cheaper than life insurance. Thus, a term insurance means money is saved which can be invested in any higher return investment plans.

Unit-Linked Insurance Plans (ULIPs)

A unit-linked insurance plan (ULIP) is a systematic investment plan that offers both insurance and investment returns.. Thus, a ULIP policy is an excellent opportunity for the policy holder to optimise his insurance and investment plan at different stages of his life.

Child Insurance

Child-specific insurance policies offer a savings plan for parents. They pay returns that are specifically catered to helping the child when he grows up in terms of paying for their education, marriage, etc.

Child insurance policies are broadly of two types. In one, the child is insured and receives a lump sum amount upon his becoming an adult. In the event of the unfortunate death of the child, the nominee would receive the premium along with interest.

In the other type, the parent is insured. The child gets the returns either upon the death of the parent or upon the maturity of the policy. Parents should consider their financial status and the future needs of their child while opting for child insurance.