Life Insurance

Life Insurance

Get Priority Life Benefits for your Loved Ones

Life insurance is a contract between you and an insurance company. Essentially, in exchange for your premium payments, the insurance company will pay a lump sum known as a death benefit to your beneficiaries after your death.

Term Plans

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Whole Life Plans

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Unit Linked Plans

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Money Back Plans

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Endowment Plans

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Retirement Plans

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Child’s Plans

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Annuity Plans

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Group Plans

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Features of Life Insurance Products

Basically Life Insurance plans are designed to cover the financial losses due to death of the insured.

Intangible (only promise)
Legal Contract
Obligation & commitment from both side i.e. insurer & insured
Benefits are defined
Timing of claim payout is defined only on happening of event as explained in policy contract

Terminology in Life Insurance

Checkout the different terminologies used in this area of insurance.

Sum Assured: It is the assured amount, as per contract, payable by the insurer on cessation of the contract if the policyholder dies during the term or life assured surviving the term.
Maturity Sum Assured: If the policyholder survives the term of the contract, the maturity is payable to the policy holder, as described in the schedule of the policy.
Premium: It is the amount of money paid by insured to the insurer as consideration amount for the policy contract.
Bonus: Some additional payout to the customer. In with profit policies, along with maturity sum assured/death claim, bonus is also paid, depending on the surplus generated by the insurer.
Net Asset Value (NAV): It is used in unit linked plans. It is the closing price of one unit of a particular fund on a particular day.

How to Choose how much Life Insurance Coverage you required?

Estimating how much coverage you need is to:

Add up all the expenses you want to cover, such as income replacement for your work, a mortgage and children’s college expenses.
Now from the above estimations, subtract the amounts that your family could use to cover those expenses, such as savings, other incomes, pensions, existing life insurance etc.
The resulting number is how much life insurance you need. It may look high, especially if you’ve factored in income replacement for many years. Still, life insurance quotes are free, so it doesn’t hurt to price out the coverage you need.
If it turns out to be unaffordable, you can buy what you can afford now to lock in a good rate. You can buy more later, just be aware that several years from now your rate will be based on your older age and any health conditions you’ve developed.

Simplify your Insurance Journey Now

For any inquiries relating to different life insurance policies, and other insurance services feel free to speak to our representative. Call us during business hours or fill in the below form as per your convenience.

Office address

706 Block K, Jain Carlton Creek, Khajaguda, Hyderabad-500104, Telangana, India.

Contact number

+91-8448090600

Email address

support@digisafe.co.in