Life Insurance

A life insurance is a contract between assured & assure. A life insurance not only secures your family's future but also act as a saving for your future. In case of your death the nominee will get a sum assured amount. Life Insurance is considered one of the most popular savings/investment schemes that provides sound returns as well as protection and also serves as a Tax saving mechanism.

Following are the features and benefits of Life Insurance:-
1) Death Benefit: In case of your death, a sum assured will be paid to your family. It secures your family's future against any unfortunate demise.
2) Survival/Maturity benefit: In case of your survival or your policy gets matured you will get a sum assured plus the returns at the time of maturity whereas there is no option of withdrawal of amount.
3) Investment cum saving: A pension plan act as an umbrella which secures your golden period and a children plan gives wings to your child dream; you can invest your money depending upon the risk profile.
4) Payment option: You can pay your premium either monthly, quarterly or yearly above it you also have an option of single payment where you have to pay one time.
5) Tax benefits: Under section 80C you can save your tax up to Rs.1 lak on premium paid for Life Insurance.
6) Riders benefits: These are special benefits given to the policy holder like Accelerated death benefits, waiver of premium rider, disability income rider etc.
Following are the life insurance plans that life insurance companies offers like
1) Term Plan: A term plan is a pure life cover. In case of your death the sum assured will be paid to your family. Your paid of amount against term insurance policy is treated as a cost of policy and will not be returned after time of uncertainty.

2) Ulip Plan: Ulip stands for Unit Linked Insurance Plan. Ulip is a market linked life insurance plan. It is said as insurance with investment plan. Your money that is being taken for your insurance is invested in market by investment experts. Policy holders can suggest fund to invest their money. Share of investment is predefined and transparent. Yield is distributed to insurance policy holder.

3) Children Plan: A plan that secures your child's future and allow them to fulfill there dream. You can manage their education expenses by taking children plan or education specific insurance plans. You can shape up your child's carrier and future through these types of insurance policies.

4) Pension Plan: A Pension Plan gives security after your retirement. You need to pay a fixed installment during your job. And when you get retired, you will get per month a fixed amount. Pension plan is to make your future safe after job and for continuous earning when you do not engaged even in any business activity.

Please visit for more information on life insurance and health insurance : www.bimadeals.com.