Life insurance policy in India

Life insurance policy: 

 

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Life insurance is a contract between an insurer and a policyholder, in which the insurer guarantees payment of a death benefit to the named beneficiaries upon the death of the insured. The purpose of a life insurance policy in India is to provide financial protection to the family members after the death of an insured. Everyone knows why life insurance is important, but many of us choose to ignore the reality of what would happen if we were to die suddenly without proper protection. It is essential for applicants to analyze their financial situation and determine the standard of living needed for their family members before purchasing a life insurance policy in India. The policyholder has to pay a premium, either regularly or as one lump sum. 

Types of life insurance policy: 

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Term Insurance: Term insurance is a life insurance policy in India offered by an insurance company that offers financial coverage to the policyholder for a specific period of time. 

Unit Linked Insurance Plans: These are unique insurance plans which are basically a mutual fund and term insurance plan merged into one. 

Whole life: Whole life insurance policy in India provides lifetime coverage for a set premium amount. 

Endowments: Endowment plans pay out the sum assured under both scenarios - death and survival 

Money back: Money back plan is an investment plan which provides life insurance cover against the death of the policyholder along with periodic returns as a percentage of sum assured. 

Policy for Child: Child plans help to build funds for a child’s education and marriage. 

Importance of life insurance policy: 

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Whether it's for replacing lost income, paying for your child's education or making sure your spouse gets the much-needed financial security, life insurance policy in India could save the day for your family members. It would help you achieve your long-term goals such as buying a home or planning your retirement. You could save taxes with insurance policies irrespective of what plan you buy. Death is unavoidable. In the face of tragedy, the least you can do for your family is to secure their financial future. Even if it is a small policy, you know that you've done all you can to help them tide over difficult times. With a life insurance policy in India plan, you can ensure you have a regular stream of income every month. A life insurance policy will ensure that your children can go to college, buy a home and even pay for their wedding. 

Asset Insurance in India

What is Asset Insurance?

An Asset Insurance in India is a safety cover that protects your assets from sudden and accidental damage. The company covers the cost of repairing if the asset can be repaired and if they are un-repairable the insurer replaces them. It is mentioned in the policy document that assets can be covered like building, walls, service facilities, etc. An insured asset is one for which insurance compensates the owner if it is damaged. One of the ways to protect the assets of the company is gaining corporate asset insurance. Losing important assets means losing the base and giving a large sum to establish it once again. It is important to have a support system for your company. Without Asset Insurance in India, none of your companies can deal with sudden incidents in the future. Asset has the most profitable value. There are various asset insurance schemes for the protection of assets.

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Forms of Asset Insurance in India

Asset Insurance helps in the continuous functioning of business by providing coverage against sudden risks. Outstanding liabilities, mortgage bills, etc towards vendors can bring the company to pause. There are different forms of asset insurance in India

Fire Insurance- A major fire can bring disaster to your company. You can face a huge loss.

Sometimes, it is not possible to recover the loss. Fire Insurance covers your workplace’s structure as well as contents against the risk of fire but also uncertainties like hazard, terrorism, etc.

Burglary Insurance-This covers the assets contained in business premises. It covers cash, valuables, and securities saved in a lock safe.

Cash Insurance-It is very important as it covers the organization’s cash and bankers’ drafts etc. It covers the money during transactions in the personal protection of the insured or employee.

Money in a secure room outside working hours.The cash in office all through working hours.

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Buy Asset Insurance Online

Asset Insurance in India is less popular but with time, business owners are realizing its importance. They treat it as an investment rather than expenditure. To buy Asset Insurance in India online, few documents that you need to provide such easy to buy without a bundle of paperwork. Tales less than 10 minutes to complete a purchase. You need to enter simple basic requirements as per the needs and preferences to find the best insurance plan for yourself. Compare plans from various companies in less than 30 seconds. Choose a plan which fulfills your criteria. You need to complete the proposal form in five minutes in which you need to fill your basic details. Upload your documents and make payment for the plan you opt for. Now you are covered under the policy.

Best Car Insurance Policy in India

What is Car Insurance Policy?

A car insurance policy is a safety coverage that the car owners takes to protect their car from from physical damage.The Best Car Insurance Policy in India is taken for a specified period of time.The premium is paid in advance to keep the policy insurance active. Taking Best Car Insurance Policy in India is mandatory by law. Best Car Insurance Policy in India protects the insured from any legal liabilities and , damages arising out of natural calamities and theft.The car Insurance policy covers  loss or damage to your vehicle against natural calamities, Personal Accident Cover , Third Party Legal Liability, damage to vehicles against man-made calamities.Each car is insured at a fixed value which is called as the Insured’s Declared Value.Best Car Insurance Policy in India is renew online, starting 60 days before expiry of existing policy.Car Insurance is purchased online as well as offline.

Benefits

It provides benefits to survivors when an accident results in death.Best Car Insurance Policy in India covers legal fees brought across the result of accident.It covers the bills of vehicle. Repairs due to damage caused in accident.Best Car Insurance Policy in India  allow premium discounts for theft.It also provides added advantage to extend coverage to others driving your car.No claim bonus is offered on renewals provided but on certain terms and conditions.Trained professionals are available online to answer your queries that you may have.Buying online car insurance in India directly from the insurer gives additional discounts.Choosing a Best Car Insurance policy In India: online allows the freedom to choose the four-wheeler policy that best suits the customer.It offers the benefit of no claim bonus (NCB). NCB is a discount on premium given by the Best Car Insurance Policy in India.

 How to buy Best Car Insurance Policy in India?

Best Car Insurance Policy in India can be bought by online as well offline mode.The process of purchasing online car insurance policy is easy.You can purchase or renew car insurance policies online directly from the website of any individual insurers .You can also buy car Best Car Insurance Policy In India from an insurance broking portal. Because insurance broking portals present you a broad ground of choices to pick, select and guide you completely so you can use the best car insurance plan when you buy or renew auto insurance policy online.Buying a car insurance policy offline from the insurer or through insurance broker is an old method .Offline purchase or renewal of car insurance policies  of is still preferred by many in India.You will have to visit the head office or any of the insurer’s branch offices to purchase or  renew you Car Insurance Policy.

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