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Insurance Makes Your Life Better.
Having life insurance is a smart choice for us. Where you can get many benefits from a life insurance.
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Key Highlights Of Life Insurance
Life insurance provides financial protection for your loved ones in the event of your untimely death.
There are many different types of life insurance policies available, including term life, whole life, and universal life insurance..
Depending on the type of policy you have, life insurance can provide tax benefits.
Some types of life insurance policies, such as whole life and universal life insurance, accumulate cash value over time.
The death benefit can be used to pay estate taxes, ensuring that your beneficiaries receive as much of your estate as possible.
Insurance and Investment in one package.
Insure your life with lifegood and we’ll match up to 100% of your premium in one investment - at no extra cost.
Term Insurance
This means term plans only offer life insurance and do not include any savings or investment component.
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Saving Plan Insurance
Saving plans are essentially a form of life insurance plans that offer individuals an opportunity to save, invest and accumulate funds to meet their needs in the future.
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ULIP Plan
The insurance sector in India has been evolving rapidly. Life insurance penetration has witnessed a surge, from just 2.82% in 2019 to 3.2% in 2020.
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Retirement Plan
Retirement and pension plans are financial instruments that can shape your hard-earned income into savings for your post-retirement life.
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How Does Life Insurance Work?
First, you should choose a life insurance plan that suits you the best. If you are married and have kids, a plan that promises a higher life coverage will be beneficial for your children’s higher education and their future. Depending upon the terms and conditions of the plan, you can either pay on an annual or a monthly basis.
In case of an unforeseen death, the nominated individual should inform the life insurer and file a claim. The nominee is required to submit some relevant documents such as a death certificate, identity proof, etc. The insurer company, after the verification, pays the life cover amount to the nominee.
Thus, the future of your family is protected with life insurance and they can fulfill their dreams even after your absence.
Benefits Of Life Insurance
Financial Security
The primary benefit of a life insurance policy is that it provides long time financial stability to the policyholder’s family in case of any unfortunate event.
Death Benefit
In case of any unfortunate event with the policyholder, the insurer provides financial protection in form of a death payout. The appointed nominee receives the entire sum assured plus the bonus accumulated over a time
Maturity Benefit
When the policy matures, some life insurance plans offer the policyholder the full premium amount paid during the policy term.
Gurranted Returns
Life insurance plans guarantee that you receive a fixed amount after a specific term. The return you get can help in paying the loan, child’s higher education, and other expenses.
Wealth Creation
Life insurance Savings plans such as ULIPs offer wealth creation benefits also. In such plans, you can invest your premium amount in different funds based on the risk appetite. These life insurance policies are good wealth-makers in the long run
Tax Benefits
Policyholders can avail of tax savings benefit up to Rs. 1.5 Lakhs u/s 80C of the Income Tax Act, 1961, for life insurance premium amount paid. Also, the payout received from an insurer is exempt from tax u/s 10(10D) of ITA and the premium amount paid for riders such as critical illness can be claimed u/s 80D.
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Insurance Can Be Investment
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