What Is Life Insurance?
A life insurance policy allows you to provide the right security for your family in case of your unfortunate absence. In exchange for premiums (payments), the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries in the event of the insured's death. A protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.
Importance of Life Insurance?
Life Insurance is quite an important aspect of one's financial planning. It is critical to know all you can about Life Insurance before purchasing the policy. Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as some other insurances will provides lifetime coverage. It's important to note that death benefits from all types of life insurance are generally income tax-free.
There are many varieties of life insurance. Some of the more common types are discussed below.
Money Back Life Insurance Policy
Group Life Insurance
Unit Linked Insurance Plan
Term Life Insurance plan helps your family from financial instability in case of your unfortunate decease or critical illness. Get the best term life insurance plans from the top insurance providers.
Benefits of Life Insurance Plan
Provides for Loss of Income - In the event of the actual plan holder's passed away, the actual dependents may all of a sudden end up remaining with no continuous income source. The near future needs from the reliant people as well will be greatly compromised together needing to be satisfied with choices that are not really just like you'd possess desired should you had been close to Along with enough term life insurance you are able to keep your loved ones isn't remaining higher as well as dried out combined with the psychological stress of the lack. This is among the most significant causes of making sure you've got a appropriate life insurance coverage in position. And also having benifits like protects your assets, Financial Planning and Tax saving.
Life Insurance Companies in India
There are so many Life insurance companies in India.
- Bajaj Allianz Life Insurance Company Limited
- Birla Sun Life Insurance Co. Ltd
- HDFC Standard Life Insurance Co. Ltd
- ICICI Prudential Life Insurance Co. Ltd
- IndiaFirst Life Insurance Company Ltd
- ING Vysya Life Insurance Company Ltd.
- Life Insurance Corporation of India
- Max New York Life Insurance Co. Ltd
- Met Life India Insurance Company Ltd.
- Kotak Mahindra Old Mutual Life Insurance Limited
- SBI Life Insurance Co. Ltd
- Tata AIG Life Insurance Company Limited
- Reliance Life Insurance Company Limited.
- Aviva Life Insurance Company India Limited
- Sahara India Life Insurance Co, Ltd.
- Shriram Life Insurance Co, Ltd.
- Bharti AXA Life Insurance Company Ltd.
- Future Generali India Life Insurance Company Limited
- IDBI Fortis Life Insurance Company Ltd.
- Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd.
- Aegon Religare Life Insurance Company Limited
- DLF Pramerica Life Insurance Company Limited
- Star Union Dai-Ichi Life Insurance Company Limited
- IndiaFirst Life Insurance Company Limited
- Edelweiss Tokio Life Insurance Co. Ltd.
- Employee's State Insurance Corporation
- AEGON Religare Life Insurance
- Exide Life Insurance
- PNB MetLife India Life Insurance