Overview
Life insurance pays your family a sum of money if you are not around. Term plans focus on pure protection, while other plans combine protection with savings.
What is usually covered
- Death benefit paid to your nominee
- Optional riders such as accidental death or critical illness
- Maturity benefit in savings-linked plans
- Tax benefits as per prevailing law
What is usually not covered
- Claims arising from non-disclosure of material facts
- Suicide within the initial period set by the policy
- Death due to exclusions listed in the policy
Who needs it
- Earning members with dependants
- People with home or personal loans
- Anyone planning for retirement or children education
Frequently asked questions
How much life cover do I need?
A common starting point is a multiple of your annual income plus your outstanding loans. We can help you work it out.
What is a nominee?
The person you choose to receive the benefit. Keep nominee details updated.
Exact cover, exclusions and limits vary by insurer and plan. Always read the policy wording before buying.