Life Insurance

 

As someone famously said, "The only certainty in life is that it is uncertain." For your part, the best way to deal with this uncertainty is to be prepared. Life insurance is one way of preparing for life's suprises from a financial perspective.

​Why Buy Life Insurance?

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Why Buy Life Insurance?

Provides your family financial security

Enables you to save in a disciplined manner depending on which plan you choose

Offers a range of product options based on your life stage and financial goals

Can minimise the tax that you pay depending on which plan you choose

Doubles up as an investment in addition to the protection it offers depending on which plan you choose

Life Insurance

​Points to Remember

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Important points to consider when buying life insurance

Protection Only or Investment Too? Decide if you are buying an insurance policy only to protect your interests or if you want it to double up as an investment too.

 

Risk: Evaluate if the insurance plan matches your appetite for risk, especially when it comes to unit linked plans.

Sum Assured: Determine the amount of money that you are guaranteed to receive on maturity of the insurance policy. If bonuses are applicable, understand what bonuses you will be entitled to.

Charges: Insurance policies must be managed by the insurance company. So from your point of view, you should understand the fees you are being charged for the management of your insurance policy. 

Claim Procedure: Should you need to claim insurance, understand how you will have to place an insurance claim and how long it will take to settle the claim.

​Ways to Buy

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Ways to Buy Life Insurance

Insurance is a complicated product because there are several factors that insurers needs to evaluate when offering financial protection.


While it is necessary and important for you to conduct independent research, it is best to take the advice of an expert who will understand your needs.


At Reliance Money Solutions, we spend time to assess your goals and risks, and then recommend life insurance plans that match your needs.


To begin the process of protecting your family's financial future, get in touch with us today!

Example

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Mr. Aziz's Life Insurance Policy
 
Mr. Aziz was 40 and had a young family with a wife and 2 kids. They lived on their own in Pune. Mr. Aziz has taken a home loan to buy their dream house, which he had been in the process of paying. To protect his family's financial security, Mr. Aziz had wisely bought a term insurance plan that would provide his family the funds they might need should anything happen to him.
 
Unfortunately, Mr. Aziz passed away unexpectedly of a heart attack. While his family had to bear the irrecoverable loss of his life, Mr. Aziz ensured that they would not have to deal with an additional financial loss. He did so by buying a term life insurance policy.
 
Thanks to Mr. Aziz's foresight and planning, his wife and children will be able to repay their home loan and manage their expenses comfortably even in his absence.
 
While the term life insurance plan worked for Mr. Aziz, you might need a different life insurance plan to suit your needs.
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