Life Insurance
Life insurance is simply about protecting what matters most - your family and your health. However, the process of getting insurance can be confusing and complicated - until now. At Insurance Unity, we are committed to providing life and health products that are affordable and easily assessible, so you can be completely confident in your insurance decisions.
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What is life insurance?
Life insurance is the purest form of life insurance policy that offers comprehensive financial protection to your family members against life’s uncertainties. Depending on the term insurance plan you buy, your family will get life cover or sum assured in case of your untimely demise within the policy period. Let us know more about what is term insurance and the features and benefits it offers.
1. Provides life cover against the uncertain.
Life is uncertain and in such times, it's always good to have a plan B. Consider this your plan B to safeguard your family with you and even after you.
2. Ensures financial protection against critical illness.
With the stock markets going up and down every day, this is your investment that never goes down and is always available.
3. Even offers tax benefits.
Tired of trying to find ways to save tax? Look no further, Term insurances are a great way to save your tax every year.
Frequently Asked Questions
Life Insurance is a financial cover for a premature contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
Though human life cannot be valued, a monetary sum could be determined based on the loss of income in future years. Hence, in life insurance, the Sum Assured ( or the amount guaranteed to be paid in the event of a loss) is by way of a ‘benefit’. Life Insurance products provide a definite amount of money in case the life insured dies during the term of the policy or becomes disabled on account of an accident.
All of us face the following risks:
Dying too soon
Living too long
- To ensure that your immediate family has some financial support in the event of your demise
- To finance your children’s education and other needs
- To have a savings plan for the future so that you have a constant source of income after retirement
- To ensure that you have extra income when your earnings are reduced due to serious illness or accident
- To provide for other financial contingencies and life style requirements
Primarily, anyone who has a family to support and is an income earner needs Life Insurance. In view of the economic value of their contribution to the family, housewives too need life insurance cover. Even children can be considered for life insurance in view of their future income potential being at risk.
The amount of Life Insurance coverage you need will depend on many factors such as:
- How many dependants you have
- What kind of lifestyle you want to provide for your family
- How much you need for your children’s education
- What your investment needs are
- What your affordability is
We will research your options and choose a policy wisely. A life insurance policy will not only safeguard you but your entire family as well.