Life Insurance

Endowment plans offer both risk and maturity benefit. In endowment plans, the rate of tax is different in first year and it changes from second year. Before Goods and Services Tax (GST) implementation, while buying an insurance plan, the policyholder paid a service tax of 3.75% on the first year premium amount. From second year onwards, the policyholder paid a service tax of 1.88% on renewal premium amount. However, post GST; the policyholder will pay a service tax of 4.5% on the first year premium amount while buying a new policy, and 2.25% on renewal premium amount from second year onwards.

Purchase and maintenance of insurance policies has changed its definition over the last decade. With rapid growth and exposure to insurance at pan India level, the consumers are being more and more aware of insurance products & processes, which brings-in the need for personalized service-support. OneInsure enables the consumers to buy, know, maintain and renew their policies through its APP. This facilitates them to access 60+ premium services delivered with global standards of user experience & technological support.

Have a Life Insurance Policy? Great!

When you talk about Life Insurance it normally freaks out every individual. The main reason behind is the confusion everyone has about the benefits received through a Life Insurance Cover.

A study reveals that India has the worst persistency rate when it comes to insurance. Which means a large number of policies are either lapsed or terminated prematurely, which results in huge losses for the policyholders. So how can this be avoided?

SBI Life Insurance has recently launched a High Income Group Unit-Linked, Non-Participating Life Insurance Plan – Smart Privilege. This plan gives you the option of choosing the fund and switching fund at no additional cost. We have decoded the entire product details in the article.

Buying a wrong or inadequate Term insurance cover can defeat the whole purpose of buying insurance. Just like an umbrella, Term insurance is meant to cover you during the rainy days of your life and it should last as long it rains. So along with the amount of the cover, the duration of the policy is also a key factor to be considered. In this article, we will explain how to decide upon the Policy Term in a Term Insurance Plan.