What is a Life Insurance Policy?
A Life Insurance Policy protects your loved ones in the event of unfortunate demises of the insured. When you buy a Life Insurance cover, a premium is paid to the insurance company that assures to provide a compensation to your Loved ones in the event of a sudden death. It provides a financial protection and stability in the absence of the policyholder.
Different Types of Life Insurance Policies
Types of Life Insurance Riders are Available in India
Life Insurance Premium is Determined by
A Life Insurance Premium is determined on the basis of below factors:
Life Insurance Cover Amount Depends on
(Multiplying your current annual income between 15-20 times is a useful way to determine the coverage required.)
Number of Dependants
City in which the Insured Resides
Your current & future lifestyle
Current Investments & Outstanding Liabilities