Overview
Life insurance provides financial security to your family in case of your untimely demise. It ensures that your dependents can maintain their lifestyle, meet financial obligations, and achieve life goals even in your absence. Choose from term plans, endowment policies, ULIPs, and whole life insurance based on your needs.
Who Should Invest?
✓ Essential For:
- •Primary breadwinners with dependents
- •Parents with young children
- •Individuals with outstanding loans
- •Self-employed professionals
- •Anyone with financial responsibilities
- •Young professionals (lower premiums)
✗ Lower Priority For:
- •Single individuals with no dependents
- •Financially independent retirees
- •Those with substantial assets
- •Children (unless for tax planning)
Why Buy Life Insurance?
Income Replacement
Replaces lost income to maintain family's lifestyle
Debt Protection
Covers outstanding loans and prevents burden on family
Goal Funding
Ensures children's education and marriage expenses
Tax Benefits
Premiums deductible under 80C, maturity tax-free under 10(10D)
Peace of Mind
Financial security reduces stress and anxiety
Affordable Protection
Term plans offer high coverage at low premiums
Coverage Calculation
Recommended Sum Assured
Basic Formula: Annual Income × 10-15 years
Comprehensive: (Annual expenses × 20) + Outstanding loans + Future goals
Example: ₹10L income → ₹1-1.5 Cr coverage minimum
💡 Tip: Review coverage every 3-5 years or after major life events
Types of Life Insurance
Term Insurance
Pure protection, highest coverage at lowest cost, no maturity benefit
Endowment Plans
Insurance + savings, maturity benefit, lower returns (5-6% p.a.)
ULIPs
Insurance + market-linked investment, flexible, 5-year lock-in
Whole Life Insurance
Coverage till 99-100 years, estate planning tool
Money Back Plans
Periodic payouts during policy term, survival benefits
Key Features & Riders
Critical Illness Rider
Lump sum on diagnosis of specified illnesses
Accidental Death Benefit
Additional payout for accidental death
Waiver of Premium
Premiums waived on disability/critical illness
Income Benefit
Monthly income to family instead of lump sum
Secure Your Family's Future Today
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