Life Insurance
The primary purpose of Life Insurance is to provide financial security and peace of mind to your loved ones in the event of your absence. It acts as a safety net, ensuring that your dependents can maintain their standard of living, manage expenses, and achieve their future goals without financial stress.
Term Life Insurance
Term Life Insurance is a simple and affordable form of life insurance that provides financial protection for a specific period (called the "term"). If the insured person passes away during this time, the policy pays a lump-sum benefit (death benefit) to the beneficiaries.
- Fixed Term Coverage: 10, 20, 30 years, etc.
- Affordable Premiums: Lowest cost compared to other insurance types.
- High Coverage Amount: Large protection at minimal cost.
- Flexible Policy Terms: Choose coverage duration as per need.
- Rider Options: Add-ons like critical illness, accidental death, disability.
Whole Life Insurance
Whole Life Insurance is a permanent life insurance plan that provides lifelong coverage with a guaranteed payout. Unlike term insurance, it does not expire as long as premiums are paid. It also builds cash value over time, which can be borrowed or withdrawn.
- Lifetime Protection: Coverage for the entire life.
- Fixed Premiums: Same premium throughout the policy.
- Cash Value Component: Builds savings over time.
- Guaranteed Death Benefit: Assured payout to beneficiaries.