Insurance Guide
Life Insurance
A financial protection contract that provides financial support to the nominee or family in case of the insured person's unfortunate demise.
Why it is Important
- Protects family financially
- Maintains family lifestyle
- Covers liabilities & loans
- Creates long-term savings
- Supports children's education goals
- Helps in retirement planning
- Provides peace of mind
Types of Life Insurance
Term Insurance
Pure protection plan with high coverage at low premium.
Whole Life Insurance
Coverage for entire lifetime.
Endowment Plan
Combination of insurance + savings.
ULIP
Unit Linked Insurance Plan with market-linked investment.
Child Plan
Financial planning for child's future.
Retirement/Pension Plan
Helps create retirement income.
What is Covered?
- Natural death
- Accidental death
- Terminal illness (subject to policy)
- Permanent disability rider
- Critical illness rider
- Income replacement benefit
Important Terms
Sum Assured
Amount payable on death/maturity.
Premium
Amount paid to continue policy.
Policy Term
Duration of insurance coverage.
Nominee
Person who receives claim amount.
Rider
Additional protection benefit.
Claim Process
Inform insurer
Submit claim form
Submit death certificate
Policy verification
Claim settlement