Get Yourself a Life Insurance on Priority
Life is a gift of God and it should be nurtured and protected in all the possible ways. If you do not do so, then there are many health hazards that are bound to happen to you. But this is only if you do not take the precautions which is an important part of your daily chores. You should have a fixed diet and exercise well to get a good health. Apart from all such steps, one more important part is the insurance which should be always up to date. Life insurance is a policy which has many branches to suit different purposes. But the sole purpose of a life insurance should be financial security in case of an unforeseen event. This financial security would give the family of the affected or deceased a backing to lead their lives for a certain period without worrying about the expenses.
Types of Life Insurance Plans
There are many types of life insurance in India that can be purchased using the modes available. Let us look at the life insurance types in detail to understand a little deep into it.
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Investment Plans : Investment plans are a dual benefit plan where you can get insurance as well as investment at the premium of one. This plan is designed for the people who know that they would benefit more from the investment rather than the insurance. Hence, they purchase such dual plans to take tax benefit as well.
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Pension Plans : Such plans are for the benefit of policy holders post they retire from their career. It is an arrangement made while they earn. They invest some amount of it each year to be accumulated so that by the end of their earning tenure, they have a corpus ready that can fetch them a fixed monthly pension that would take care of their regular expenses. This plan is again dual where you get an insurance cover as well.
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Child Plan : This plan focuses on the growth and benefit of the child. If you wish to invest a certain amount for your child and to take an insurance cover, then such plans are perfect for you. It would be a fixed term plan where you can invest some amount for your child’s future. Getting a huge amount arranged for the future expenses like studies and marriage could be a big jolt to you. But such plans ensure that you make an investment step by step and secure your child’s future. The insurance cover is for the benefit of the child as it is for the person paying the premium. In case if anything happens to the premium payer then the child would get extra benefits apart from the premium holiday.
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Term Life Insurance : This is the only life insurance plan which is specifically related to the life of the person. Your life is precious being a breadwinner of the family. In case of an unforeseen event, you would need your family to be safe and financially secure. Such plans help the family, or the nominee get a lumpsum amount as decided while purchasing the best term life insurance. For this, you would need to some back calculations and you can use the term life insurance calculator available online. This calculator would help you to know how much money you would need at a certain age from now with your current earning capacity. This way you can get to know the term life insurance rates that you would have to pay for the rest of your life.
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Family Insurance : Family insurance is about covering all the members of the family in one single insurance policy. This is more feasible for the policy holder as he needs to pay only one premium for all the members. It saves the money and solves the purpose. However, the sum assured is also common and anytime it needs to be used would be available for a fixed amount irrespective of the family members being affected.
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Global Life Insurance : This is an insurance cover which would cover you globally across countries. In case if you travel a lot and wish to stay insured, you can get this global life insurance. It keeps you covered no matter where you go.
You can get the life insurance quotes online to compare it and make sure you get the best deal possible. Life insurance companies have their own websites that help you to buy insurance online. They also have tie ups with the third-party websites that have almost all company quotes that can be used to compare the life insurance policies to the core. These websites have life insurance calculators that help you to gage your premium of the policy and give you insights of the plan.
Frequently Asked Questions
Q. What is Life Insurance?
A. Life Insurance is a policy that helps you to take care of the financial aspect so that in case of an unforeseen event you would be secured. This insurance is an important one for your financial backing and so that you can be relaxed and prepared for any kind of activity.
Q. What are the benefits of life insurance?
A. Life Insurance is a great way to secure your family from any situations and keep your finances in place. This is the most important benefit of life insurance and you should look at finding the right plan for your needs. There are many flexible options available that can be invested in with ease and you can get the fruits of it with time.
Q. What life insurance should I get?
A. Life insurance is available in many types and it depends on the need and preference of the person investing in. This can be different for different people. So, make sure you go through all the options available and then decide what needs to be an ideal life insurance plan for you. These plans differ from case to case and you can opt for a plan for your child, family, term plan, global plan, investment, pension, and many more plans available in in the market.
Q. How does life insurance work?
A. Life insurance works on a simple calculation. You need to buy a plan with a registered life insurance company and keep on paying the insurance premium as decided while purchasing the plan. This would help your insurance plan to be active and give you the benefits from time to time. It is necessary for you to understand all the terms and conditions so that while you claim for it, the benefits are all given as discussed.
Q. How to buy life insurance policy online?
A. Life insurance policy is available at all leading insurance websites. You can buy it from a common portal which has all the leading insurance companies online and it is easy for you to compare them as well. The steps to buy life insurance is easy and you just need to follow them. The plans are all available with all options and benefits given. You can choose the plan accordingly and upload the required documents and details. The payment can also be done online, and you can get a receipt of the plan on your email or just after you make the payment.
Q. Where to buy life insurance?
A. Life insurance can be bought at the centers of the insurance companies or at the registered agents office or at the online portals which is the most common platform for sale of insurance. You need to have some knowledge to buy it online as not all assistance can be provided if you are new to this process.
Q. Why life insurance is required?
A. Life insurance is an important part of your life as it would help you and your family when there is an unforeseen event and finance is all you need at such a point. You may get emotional support, but financial support is difficult and being self-sufficient is always great.
Q. How to compare best life insurance plans online?
A. You need and should compare life insurance plans online before you buy it. This is because there are many benefits attached to every plan which can be good for you if there is a claim. The best way to compare insurance plans online is by visiting the common portal for life insurance where the plans are available one after the other. The comparison becomes easy and you can then plan.
Q. How to compare best life insurance plans and policies?
A. It is an art to compare the best plans and policies, but you need to be vigilant about it. You need to find your plan which suits the need and then look for options in other companies to get an insight about the r6ate and the benefits given. This would help you finalize a plan and you should also check on the background of the insurance company. It would help you to know the claim settlement ratio.
Q. How to compare life insurance rates?
A. Life insurance is a very competitive business. It needs to be analyzed and validated at each stage. If you have got a premium quotation from the company, check on the benefits and then check the other company plan which gives you similar or lesser benefits. Always ensure you go in for a lower premium when you choose a plan with highest benefits possible.
Q. How to get instant life insurance?
A. It is easy to get an instant life insurance now. With the help of internet, you can fill up your form and get the best plan available. This would help you to understand how the company work and the benefits in an insurance to be availed in case of a claim.
Q. How to get instant life insurance quotes online?
A. Life insurance is available online and you need to fill the required form to help the company make a quotation so that you can decide accordingly. If you do not like a plan you can ask for a different quote and then get your quote so that you can decide.
Q. What are the types of life insurance?
A. There are many types of life insurance which can be availed by you. These are term insurance, family, child, pension, investment, group, and much more. You need to look at your requirement and then choose a suitable plan to finalize it.
Q. What is the best type of life insurance for over 50?
A. The best type of life insurance for over 50 is the one that would give a huge amount of cover and less of investment benefits for a longer period. This is because the cover would be for a small number of years and multiplying money is not possible for such tenures.
Q. What are the benefits of life insurance?
A. Life insurance has a major benefit of giving financial support to the family and then make it easy for them to lead a better life irrespective of the breadwinner not being with them. It would give them the time to think and settle their lives. Moreover, the benefits can be from taxation purpose and for an investment option too. Also, if the person meets with an accident and is bedridden, the such plans help to settle the family through finance options and gives a premium holiday.
Q. What are the documents required for life insurance?
A. There are a few documents required for buying a life insurance and that is mandatory. The first document is a photo id proof which would ensure that the plan is purchased for the same person. The next is the address proof which would help all the communications to go to the mentioned address. Apart from this a few photographs and copies of such documents are required. If the sum assured is huge them the medical tests are conducted which are assessed by the underwriters to give such a sum assured. You may also need to give a few financial details so that the premium payments can be aligned accordingly and the sum assured can also be decided.
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One Stop Shop for Multiple Products: Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year.
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One Stop Shop for Multiple Products: Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year.
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One Stop Shop for Multiple Products: Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year.
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One Stop Shop for Multiple Products: Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year.
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One Stop Shop for Multiple Products: Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year.
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One Stop Shop for Multiple Products: Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year.
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Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year. Personal Loan Interest rates can range from 10.75% to 35% depending upon the individual applicant profile and the lender.
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Step1- Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year. Personal Loan Interest rates can range from 10.75% to 35% depending upon the individual applicant profile and the lender.
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Step2- Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year. Personal Loan Interest rates can range from 10.75% to 35% depending upon the individual applicant profile and the lender.
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Step3- Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year. Personal Loan Interest rates can range from 10.75% to 35% depending upon the individual applicant profile and the lender.
Know your APR (Annual Percentage Rate) i.e. How much the loan would cost in interest per year. Personal Loan Interest rates can range from 10.75% to 35% depending upon the individual applicant profile and the lender.
