Life insurance generally provides:
• A safety net for a person who has dependents, or
• A stream of income
A person may obtain life insurance individually or through a group.
Beneficiary
An insured selects a beneficiary to the life insurance policy. The beneficiary of the policy is the person named in the insurance contract who will be paid the benefits of the policy. Usually but not necessarily, the beneficiary is a relative or person close to the insured. For example, a corporation may take out a life insurance policy on the life of an important executive to protect against the losses it would suffer if the executive suddenly died.
A beneficiary has rights in the insurance policy until another person is named as the beneficiary. For example, if a person names a spouse as a beneficiary and later gets divorced, the divorced spouse has rights in the policy until the insurance policy is amended to name a new beneficiary.
Types of Life Insurance
We guide you for all types of policies
Money Plus
Pension Plans
Unit Plans
Special Plans
Group Scheme
And many more………!!!!
Term of Insurance
Term of insurance is bought for a short and specific period of time such as one year or five years. The insured pays a fixed premium or increasing premium for the period of the term.
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