Do you want to go for a life insurance plan for you and any of your family members? It is one of the safest and secure ways to protect your family members or dependents in a situation of your sudden or unexpected demise and ensuring their accustomed lifestyle and financial condition don’t destabilize.
The amount to be paid to the dependents of a policyholder depends based on the agreement between the insurance companies and policyholders and under the set guidelines of underwriting while policy quotes are designed. Usually, any policyholder agrees to pay a predetermined sum as a premium amount on an installment basis or as a single premium, whichever is feasible and agreeable.
Life insurance types
There are many life insurance types available on the market, but you should choose the one which suits your requirements, preferences and budget while you have other financial responsibilities as well. Sometimes, it becomes a tough situation to decide and choose a particular policy due to the presence of the innumerable companies that promise to offer several life insurance policies to potential insurance buyers. That is why you should hire highly professional life insurance agents to help you choose a policy which can meet your requirements.
Independent life insurance agents are the professionals who keep enough and required information for all types of policies with detailed information about their advantages and disadvantages. Independent insurance agents do represent all major insurance companies that offer you a wide variety of life insurance coverage options. If you are going to finalize an unusual insurance cover that you have limited knowledge of, independent insurance agencies can use their knowledge, expertise and experience to advise you on a perfect life insurance policy.
Different types of life insurance policies are as follows:
- Term Insurance
- Endowment
- ULIPS
- Money Back
- Annuity/Pension
- Whole Life
Life insurance companies in India
There are indeed many life insurance companies in India which operate from all nooks and corners of the country. They do offer various types of insurance plans. To ensure you make a better selection of insurance policy, you should take the help of professionals to choose an insurance company thus insurance policies fulfilling your need. Once you choose an insurance company in India, you should explore its plans so that you could zero upon the one suiting to you and your financial conditions depending upon your requirements and budget. The insurance service provider agent you choose must have the ability to understand your requirements to suggest you a plan which best suits your insurance needs.
Advantages of Life Insurance Plans in India
Certainty
Whether it is an unfortunate event of death or even any type of critical illness, you are certain that your family members will get the sum assured. In such a situation, you help your family financially so that they get enough time alongside sufficient funds to maintain accustomed resources until start earning their bread and butter.
Tax Benefits
The premium amount paid to the policy provider company is eligible for deduction under Section 80C of the Income Tax Act, 1961. On the other hand, the maturity amount of most life insurance policies in India is also tax-free under Section 10 (10D).
Flexibility
Insurance products are flexible. When it comes to premiums, you may choose a payment option, which is easy for you like quarterly, half-yearly or yearly payment. On the other hand, you also get policy durations and fund switching options.
Loan Option
If you need financial help from a nationalized bank or other lending agencies, you may submit your life insurance documents as collateral. This way, you may get a loan and resolve your financial hurdles.
Maturity Amount
If the insured person is still alive even after the date of maturity, he/she will get a handsome maturity amount. This, therefore, can be used for some purposes. So, you should try to take the help of reputed insurance agents and choose the best life insurance policy in India in 2019.
Search the best life insurance agent online
A simple search through the web is helpful for you to get contact details of several life insurance agents online to contact them easily. You can gauge their credibility and trustworthiness by reading customers’ testimonials and reviews. Once you get success in zeroing upon a few life insurance agents, contact them to show you the life insurance policies that are best for your requirements.
Once you find a life insurance plan, which matches your expectations, purchase it. The agent will take a cheque against the premium amount. From the next payment, you may pay the premium amount directly as well by signing up on the insurance company website. Online life insurant payment saves your time and allows you to use your debit/credit cards. Search financial planners online now.
