Lapsed Policy
Policy becomes inactive if premiums are not paid.
Life Insurance
Secure your family's future and build a legacy of love, security, and financial stability.
What is Life Insurance?
Life insurance is a contract between you (the policyholder) and an insurance company. You pay a premium, and in return, the insurer promises to pay a lump sum amount to your nominee in the unfortunate event of your demise, or maturity benefits when the policy term ends.
Who provides Life Insurance?
Life insurance is offered by life insurance companies registered with the Insurance Regulatory and Development Authority of India (IRDAI). These companies follow strict rules to ensure your protection and build trust.
Why Life Insurance?
- Provides financial security to your family in your absence.
- Helps maintain your family's lifestyle and goals.
- Covers outstanding debts, loans, and future expenses.
- Acts as a financial safety net against life's uncertainties.
- Offers tax benefits under prevailing income tax laws.
How Life Insurance Works
You choose a plan and pay regular premiums to the insurer. If an unfortunate event occurs during the policy term, the nominee receives the sum assured. If you survive the term (in case of certain plans), you may receive maturity benefits as per policy terms.
Important Terms of Life Insurance
Understanding key terms helps you make informed decisions and get the most from your policy.
Nominee
Person who receives the benefits.
Grace Period
Extra time offered after due date to pay premiums.
Sum Assured
Guaranteed amount paid to the nominee.
Revival Period
Period to reactivate a lapsed policy.
Premium
Amount paid periodically to keep policy active.
Free-Look Period
Time allowed to review and return the policy.
Rider
Additional benefits at an extra cost.
Claim Process
Steps to request and receive the benefits.
Exclusion
Specific conditions not covered by the policy.
Benefits of Life Insurance
Life insurance offers multiple advantages beyond financial protection.
Life Protection
Provides financial security to your loved ones.
Return on Investment
Certain plans offer maturity benefits and returns.
Tax Benefits
Premiums qualify for tax deduction under Section 80C and benefits under 10(10D).
Policy for Businessmen
Helps in business continuity and key person protection.
Death Benefit
Lump sum amount paid to your nominee.
Loans
Borrow against your policy in times of need.
Discount on the Payment Period
Pay premiums for a shorter term and enjoy long-term coverage.
Need help choosing the right life insurance plan?
Our expert advisors are here to help you make the right decision.