Life Insurance

Term Insurance helps you safeguard your family from financial worries that arise due to unfortunate circumstances. Term plans are pure risk cover plans with or without maturity benefits. These pure risk plans cover your life at a nominal cost.

Term plans also let you avail of the benefit to cover your outstanding debts like mortgage, home loan, etc. In case something happens to you, the financial burden is borne by the insurance company and not your loved ones.

Benefits of Term Policies

  • High insurance cover at lower costs
  • Financial security against loans and mortgages
  • Single premium payment option
  • Host of additional rider benefits

Endowment Plans are an ideal choice if you are a risk-averse customer. Endowments are long-term, regular savings plans with an inbuilt life cover.

Provided you have paid all your premiums, at the end of the term you receive the sum assured plus accrued /guaranteed bonuses that have been declared over the years, as a lump sum. In case of death during the term of your plan, the sum assured, will be paid out as a lump sum with the bonuses to the beneficiary named in the policy.


Retirement Plans make sure that you have support in the twilight years of your life. The savings you set aside today become your wealth and support in the years to come.

Retirement plans are of two types:

A. Immediate Annuity Plans-
These plans allow you to convert a sum of money into a guaranteed series of payments for a definite period or for life.

B. Deferred Annuity Plans-
This plan allows you to save regular amounts of money for a peaceful retirement. This type of annuity has two main phases, the accumulation phase which allows you to invest and save money into your account, and the payout phase in which the plan is converted into regular annuity installments and payments are received.

Retirement Plans offer you benefits such as:

  • An alternative to superannuation and provident fund
  • Compulsory Saving
  • Saving tax
  • Choice of Open Market Option, i.e. you have the option to purchase an immediate annuity from your current insurer or from any other life insurer as recognized by IRDA

Insurance today offers a very simple assurance in terms of monetary support to your child and family in case of your death or disability and helps ensure that a shortage of fund never hampers the dreams or aspirations of your child. In short, Children's Plans ensure a secured financial future for your child.

As a parent, make sure you keep the following factors in mind before choosing a child insurance plan:

  • It should cover your child throughout even if something happens to you
  • The payout should be at an age when the child requires it the most, i.e. when it wants to enter his dream college or needs to start his career
  • Should provide a regular source of income so that child doesn't have to compromise on its dreams and aspirations
  • Your child should not be forced to pay the premiums of the policy