Life Insurance

Term Insurance

Term insurance provides life insurance coverage for a specified term.The three key factors which are considered in term insurance are the Face amount i.e. The protection or death benefit; The premium to be paid& the term.If you die within the time period of the insurance, your beneficiaries will receive the amount specified in the policy, tax-free.

The insurance is dependent on your age, health, amount to be insured & your lifestyle. So if you are a non-smoker You pay less than a smoker.

Certain term policy features a premium fixed for a period longer than a year. These terms are commonly 5, 10, 15, 20, 25, 30 and even 35 years.With term life insurance, you’re able to choose a benefit amount & a term that will best meet your needs.

Whole Life Insurance

It literally means insurance for the whole life. Whole life insurance requires premiums to be paid every year into the policy. There are some arrangements that let the policy be “paid up”, which means that no further payments are ever required, in as few as 5 years, or with even a single large premium. Typically if the payor doesn’t make a large premium payment at the outset of the life insurance contract, then he is not allowed to begin making them later in the contract life. However, some whole life contracts offer a rider to the policy which allows for a one time, or occasional, large additional premium payment to be made as long as a minimal extra payment is made on a regular schedule.

The policy owner can be given a cheque from the insurance company for the dividends, the dividends can be used to reduce the premium payment, or the dividends can be reinvested back into the policy to increase the death benefit and the cash value at a faster rate.

Universal Life Insurance

Universal life insurance is the insurance plan made for You& designed by You. It’s intended to combine permanent insurance coverage with greater flexibility in premium payment, along with the potential for greater growth of cash values.

You obtain affordable permanent life-insurance protection combined with an attractive tax-sheltered savings account. You also have the opportunity to make partial withdrawals to carry out your favorite projects. We will help you design an investment portfolio with your universal life insurance plan which perfectly blends with your unique risk tolerance. You can choose to invest in interest-bearing accounts, which guarantee a fixed rate of return. Or you can choose accounts that fluctuate with market performance.

Participating Life Insurance

Participating insurance, like the other policies provide a predetermined amount of coverage which is paid when the insured passes away. The major plus point of this kind of insurance is that it has a savings portion which is basically made up of two parts consisting of :-

Guaranteed minimum value which the company is liable to you if you were to cancel the policy at a given time in the future.

The dividend is affected by a number of variables such as investment returns, mortality experience , expenses & other relevant factors.

These two factors together can make up your total cash value & can represent a competitive interest rate with a lower expectation of volatility.