Type of Insurance

Term life insurance, as the name indicates, is valid only for the specified term. The claim is offered only when the death of the insured happens during the specified duration of the policy. Once the term expires, the insured can either renew it, convert it to permanent coverage, or terminate it. The premiums of term insurance are more affordable than permanent ones. The premiums vary to persons depending on age, health, job nature, smoking habits, etc. Benefits of a term life insurance are:

• Term insurance has fixed premiums throughout the specified term of the insurance.
• You can choose the term of your choice to be covered under life insurance.
• Claim amount is paid to the family in the event of the death of the insured.
• Option to provide monthly income to the family of the insured to maintain the living standard as before the event of death.
• The peace of mind obtained from the financial security of the family even in the event of your death.

Pension term assurance is designed as a pension product suitable to cover those under non-pensionable employment, like self-employed or not supported with the employer-sponsored pension plan.In case of the insured’s death during the term of the insurance, the family will receive a lump sum to keep up the living standard without having the insured’s income to depend on. Tax relief is available on any premiums you pay under this life insurance plan. Features of the product:

• Financial security: Financial protection for your family in the absence of your earnings.
• Tax relief: The life insurance plan is tax-efficient (up to 40% of the cost amount can be claimed!!)
• Peacefulness:  Your family will be able to meet the financial requirements without shortage with the payment claimed.
• Budget friendly: Reasonable priced premiums to secure the financial life of the family.

Executive pension term assurance would offer the insured executive employer’s family the claim amount if he were to die while in employment. The financial safety net protects the financial life of the family in your absence. Premiums of this insurance plan enjoy tax relief as the plan is considered as an occupational pension scheme.The cover is valid during the employment period of the insured. Once the employee retires, generally at the age of 65 or leave the employment, the cover ends. Features of the cover:

• Tax-efficient: Premiums are not taxed, as they are not considered as a part of the income of the employee.
• Affordable life cover: The premium amount remains unchanged throughout the term of the cover.
• Lump-sum payment: The claim assures to meet the financial needs of the insured’s family, enabling them to keep up the living standard.
• Peace of mind for you: Knowing your family’s financial life is protected if you were to die.