Term plan is safest and most affordable solution to protect your family from financial stress during unforeseen circumstances as this plan covers total risk with/without maturity benefits.
In any unfortunate circumstances, all the financial worries are taken care by the insurance provider and cover your debts such as mortgages, home loans etc.
What do you get with the Term Plan?
- High insurance cover at lower costs
- Financial security against loans and mortgages
- Single premium payment option
- Host of additional rider benefits
Endowment Plans are a perfect decision in the event that you are a hazard opposed client. Supports are the long haul, normal investment funds arrange with an inbuilt life cover.
If you have paid all your premiums, toward the end of the term you get the total guaranteed in addition to collected/ensured rewards that have been pronounced throughout the years, as a single amount. If there should arise an occurrence of death amid the term of your arrangement, the total guaranteed will be paid out as a singular amount with the rewards to the recipient named in the approach.
Retirement Plans ensure that you have bolster in the nightfall years of your life. The investment funds you put aside today turn into your riches and support in the years to come.
Retirement plans are of two types:
Immediate Annuity Plans-
These plans allow you to convert a sum of money into a guaranteed series of payments for a definite period or for life.
Deferred Annuity Plans-
This plan permits you to spare standard measures of cash for a tranquil retirement. This kind of annuity has two primary stages, the amassing stage which permits you to put and spare cash into your record, and the payout stage in which the arrangement is changed over into normal annuity portions and instalments can be availed.
Retirement Plans offer you benefits such as:
- An option to superannuation and provident fund
- Definite saving
- Tax saving option
- You can have a choice to purchase an immediate annuity from any IRDA life insurer.