Life Insurance

Life Insurance is a legally binding contract with terms and conditions signed between the insurer and the policyholder. The life insurance policy extends financial protection to the insured and pays the death benefit to the nominee. You can pay a single upfront premium or regular premium over a period. 

For risk mitigation on your life, you can buy the term life insurance or the whole life insurance policy. 

Under term life insurance, the policyholder receives high financial protection on the sum assured by paying an affordable premium. A nominee gets the full policy amount in case of death of the policyholder. However, a whole life insurance provides insurance coverage for your entire life. You have to pay the premium once or for a limited time. It will remain in force until you are paying the premium. 

You can get personalized Finhaat life insurance by contacting the expert life insurance provider.

Benefits of Life Insurance Policy

1. Death Benefits: Buy life insurance plans that is 10x of your present income so your dependents get full coverage for their life expenses. From covering the daily expenses to paying for your kid’s education, the LIP proves helpful.
2. Wealth Creation: The reputed insurance company invests your insurance amount in profitable ventures to help you with certain returns monthly or annually.
3. Secured Retirement: Certain Life insurance India plans are annuity-based and pay a monthly pension to the policyholder after maturity. It is your step towards secured retirement. 
4. Tax Benefits: Policyholders receive tax deductions against the premium amount paid under Section 80C. Also, Section 10(10D) ensures that payouts through LIP are tax-free.

Contact Finhaat Insurance Wizards to get more details!

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