The basic need for taking the insurance policy is protection.There are many products available in the market for the policy holder to use it as a long term savings and a wealth- creation.
Nowadays,it is necessary to get yourself and your family financially coverd through a innumerable schemes of life insurance available in india.Therefore it is important to make a list of what do you expect from an insurance plan and kind of funds you expect in return.
Term life insurance : Term insurance provides a death benefit to the nominee only when the insured dies during the specific period.If the policy holder survives till the end of the policy term , the coverage ceases without the value and the payout.Term insurance plan can be bought through online also. While comparing with the other polices , term insurance policy offers a higher coverage at a minimum premium rate.
Whole life insurance : The Whole life insurance covers throughout the life.This insurance contain a cash value component that increases the overtime.In this you can withdraw your cash or you can take out a loan against.When the policy holder dies during the policy term , Death benefit is paid to the beneficiaries will be reduced. The whole life insurance offers survival benefits to the insured.
Money back policy : Money back policy gives your money during the policy term.Money back policy will gives you a percentage of sum asssured during the policy term at the regular intervals.When the policy holder survives till the end of the policy term you will recieve the accured remaining portion of corpus and the bonus.But when the insured dies during the term of the policy , the nominee will recieve the entire sum assured regardless of the number of the installments paid out.
Retirement plans : The savings and the investment plan that provides you income during the Retirement is called Retirement plan.Retirement plan are classified into ‘with cover’ and ‘without cover’. In the ‘with cover’ life covers in case of eventuality and ‘without cover’ pension plan corpus built is given out to the nominee in case of eventuality.
Child Insurance Policy : The Child Insurance POlicy is savings and investment policy.This plan is specially designed to meet your child financial needs and child’s future.The Child Insurance Policy gives the advantage that to start investing in this plan right from the time and child can withdraw the the savings once the child reaches the adulthood.
Contact D Haribabu (9603241814) Insurance Agent from Hyderabad for more guidance on how to take Term Insurance.