Life Insurance
Life insurance is a contract between insurer (Insurance company) and insured (policy holder) in which insurer promises to pay a sum of money to the nominee on death of policy holder in consideration of the payment of premium (paid by the policy holder )
In modern era, life insurance is known as protection cum saving financial tool. It provides not only risk cover against death of life but also provide investment option to achieve long term goal of the life.
Life insurance policy holder is eligible for tax benefits on premium paid towards life insurance as per income tax Act.
Type of Life Insurance-
- Term Plan
- Endowment Plans
- Unit Linked Insurance Plan
- Child Plan
- Money Back Plan
- Whole Life Plan
- Retirement Plan