Learn about Life insurance policy status

Learn about life insurance

Life insurance in India has its roots back more than 100 years ago.In our country, which is one of the most populous in the world, the importance of insurance are not as widely understood as it should be. What follows is an attempt to inform readers some of the life insurance concepts, with particular reference to the LIC.,,,,,,,,,,,,,

It must, however, be clearly understood that the following content is not an exhaustive description of the terms and conditions of a policy or benefits or privileges LIC.,,,,,,,,,,,,,,,

For more details, please contact our branch or division. While LIC agent will be happy to help you choose the life insurance plan to meet your needs and to the maintenance policy.,,,,,,,,,,,,,,,

What is life insurance?

Life insurance could be a contract that involves the payment of a total to the insured (or his representative) head to head if AN insured event happens.,,,,,,,,,,,,,,,

The contract is valid for the payment of the total insured for:

The maturity, or

Dates nominal at periodic intervals, or

The unfortunate death if earlier.,,,,,,,,,,,,,

Among alternative things, the contract conjointly provides for the payment of the regular premium to the corporate by the client. insurance is universally recognized as an establishment, eliminating the "risk" to switch the knowledge of uncertainty and once the timely facilitate of the family within the unfortunate event of death of the earner.,,,,,,,,,,,,,,,

Overall, insurance is that the partial resolution of civilization to the issues caused by the death. insurance, in short, should do with 2 dangers that stand the total approach of lifetime of each person:

That of dying untimely leaves a dependent family to support himself.,,,,,,,,,,,

Than live to maturity while not visible support.,,,,,,,,,,,,,,,

Why does I Need  

Life Insurance?

A life insurance policy allows you to provide adequate security for your family in case of your unfortunate absence. Because you are the sole breadwinner of the family bread, premature death can cause serious financial difficulties. While no amount of money can ever replace a person, life insurance gives you peace of mind knowing that your family has the right financial support to continue living in the event of his absence.,,,,,,,,,,,,,,,,,,,

Life insurance is a long-term financial instrument, which functions as a financial backbone to meet the financial needs of milestones family members, even in his absence. Most importantly, it allows the family to pay the mortgage, liabilities, loans or medical expenses, so that these commitments do not cause an additional burden on them. It is therefore important to choose an insurance policy that allows your family to continue the same lifestyle and enjoy the wonderful memories that go with it.,,,,,,,,,,,,,,,,,

Different types of life insurance plans

Traditional life insurance plans:

Traditional life insurance plans, also known as insurance plans are not linked unit, ensuring that most of the investments made by policyholders are safe for debt instruments. These plans are ideal for risk-averse investors because they offer guaranteed returns greatly.,,,,,,,,,,,,,,,,,,,

Unit Linked Insurance Plans (ULIPs):

ULIPs, also known as life insurance plans related to investments in the market by enabling holders to gain exposure to equities. ULIPs are designed for customers who seek to create wealth in the long term.,,,,,,,,,,,,,,,,,,,

How life insurance is different from other insurance?

Somehow, all investments are insurance against financial risk and all insurance is the investment for a better future. Many life insurance plans also have a savings component winning becomes just like any other investment (eg, deposits, bonds or mutual funds. But the main difference lies in the fact that insurance life is really a long term investment. you should look into life insurance beyond 5-10 years to get the proper benefits. it also contains funds for future needs so you do not waste away fitter and long-term financial goals.,,,,,,,,,,,,,,,

What are the real benefits of life insurance?

Life insurance provides two types of benefits - financial and behavioral. Financially, the first and most important - life insurance protects the family against the risk of "cash flow" of the premature death of the breadwinner This is a real risk that most of us underestimate.. All is not as expected. Life throws surprises. The only way to relieve some of the pain of grief is to ensure that at least the family is financially secure.,,,,,,,,,,,,

Once this risk is supported, you need money for things I wanted to do in life. Educate children, build a good home, have a peaceful retreat in the face of wedding expenses of their children and so on. To achieve these financial goals - both money and planning is required. This is where the advantage of the behavior of life insurance scores on the other. Life insurance helps you plan early, save regularly, think long term and protect against downside risks.,,,,,,,,,,,,,,,,,

When you save the life insurance for their behavior changes subtly. You become more careful, thoughtful, and systematic and disciplined with your savings. As you pay your premiums regularly, your savings accumulate regularly and locked into a specific purpose in the future. Life insurance also gives tax breaks.,,,,,,,,,,,,,,

How to claim life Insurance?

Step 1: Complaint Summons

Need intimate and present all the documents

Step 2: Treatment claim

Claim advisers will review the documents and guide you throughout the process

Step 3: claim decision

Team claims will communicate the decision. Payments are made by electronic transfer.,,,,,,,,,,,,,,,,,,