Health Insurance
The desire to lead a healthy life is universal. One of the major casualties of the modern lifestyle is ignorance of health. However, the visits to medical practitioners for minor and major reasons have become part of our lives.
Modern science offers treatment for all medical problems, however, it comes at a cost. Irrespective of your financial status, medical expenses may cause a severe financial strain on you. Thus having health insurance has become critically essential. Depending on the type of health insurance, benefits could be availed prior to, during and after hospitalization. Get In Touch with us now to know more about Health Insurance.
Life Insurance
Life insurance is a financial security contract between you and an insurance company. In exchange for premium payments, the insurance company will pay a lump sum amount called death benefit to your beneficiaries in case of death. Having life insurance ensures that your family stays in their home and pays for the financial goals you had planned.
Types of Life Insurance
ULIPs – Unit Linked Insurance Plans
In comparison to the conventional tools to help grow your wealth, ULIPs offers the dual benefit of insurance (death benefit) and investment (maturity benefit) as well. The premiums in this plan are invested in stocks, debt, Money market depending upon risk profile of the policyholder.
Endowment Plans
Endowments are popular among insurance buyers owing to the guaranteed appreciation of their investment. The plan offers a survival benefit with guaranteed returns along with a bonus. The Endowment Plan also offers a death benefit, similar to conventional insurance plans.
Money Back Plans
The Money Back Plans are similar to the Endowment Plan with respect to guaranteed returns. Whereas in the Endowment Plan the policyholder receives guaranteed returns on the maturity of the policy, while in the Money Back Plan, the guaranteed returns are paid periodically in installments as survival benefits.
Whole Life Insurance Plans
The Whole Life Insurance Plans, as the name suggests, provide insurance cover for the entire life of the policyholder. The plans in this category offer the benefit of paying the premium for a specified period ranging from 10 to 15 years whereas enjoying the insurance cover for the entire life.
Child Insurance Plans
The Child Insurance Plans are ideal for parents who have set specific education goals for their children. Besides providing insurance cover, the Child Plans help to build a corpus that would be available at the time when your child will be pursuing higher education of her or his choice.
Retirement Insurance Plans
The Retirement Insurance Plan also known as a Pension Plan will get regular payments to help you lead your retired life with dignity. Retirement plans provide you with the money required when you have crossed your productive age.
Term Insurance Plans
A Term Insurance Plan offers life cover that would help your family when you are not in the picture. Though Term Insurance Plan does not offer benefits from the investment point of view, this is the utmost beneficial policy that is often neglected by people looking to get life insurance.