Life Insurance is the safest and the most secure way to protect your family or dependents against financial emergencies that may arise post the unfortunate event of your untimely demise.

A Life Insurance Policy is a contract between an insurance company and a policyholder. In exchange for premium payments, the insurance company guarantees to pay a lump-sum amount, known as a death benefit, to nominee upon the insured’s death.

A traditional Life Insurance Policy also provides maturity benefits. These benefits are provided in the form of a payout if the policyholder survives the full term of the policy. Moreover, life insurance schemes offer tax benefits under Section 80C of the Income Tax Act, 1961.

Different types of Life Insurance Policies available in the market:

1. Endowment Policy
2. Money Back Policy
3. Term Policy