Get the Right Coverage
You pay premium every month/year until you reach a certain age. In case you pass away during the said period your family is paid the sum assured and if you live beyond the premium paying age, your life cover continues as you live and your family will receive a lump sum amount of the insurance money when you die.
Advantages of Whole Life plan:
- Survival benefit: This plan helps create a corpus to meet your desired goal at the end of a chosen premium paying term. You are entitled to the chosen Sum Assured and all the bonuses declared, if any, during the premium paying term.
- Life cover benefit: In case of your untimely demise during your premium paying years, your family would receive twice the Sum Assured along with all bonuses accumulated during the premium paying term of the policy.
- Whole life cover benefit: You are also entitled to an additional Sum Assured payable in case death occurs after the completion of the premium paying term or on completion of 100 years of age, whichever is earlier, allowing you to leave a legacy to your dear
- To pay for funeral expenses so your family doesn’t have to meet the costs.
- To pay for any outstanding debts or liabilities you may still have.
- To help your dependents maintain their standard of living.
Key features of the plan:
- Double Life cover of the Sum Assured and the vested reversionary bonuses, if any, during the premium paying term are paid as the payout after you pass away.
- Wealth creation through regular bonus additions declared at the end of each financial year
- If you live longer than the premium paying tenure, you are covered with the Survival benefit of Sum Assured plus vested reversionary bonuses and terminal bonus, if any, at the end of the premium paying term
- Additional life cover for the chosen Sum Assured post premium payment term, for whole life
- Enhanced coverage through riders – Accident and Disability Benefit Rider, Critical Illness Rider and an Income Benefit Rider
- Avail of tax benefits on the premium paid and benefits received under the policy, as per the prevailing Income Tax
Tip : You should consider taking out waiver of premium with your insurance policy, because in case you fall ill and cannot make premium payments, the wavier of premium clause will cover your monthly premiums. Some plans also include sickness or disability benefits.
Advantage of Anar Insurance
Anar Insurance encourages savings in the form of investments.Premium given for life insurance acts as savings for future.It helps in collecting and securing funds for security and safety for future needs.
Financial security is utmost important for survival in today’s world.Safeguarding family’s finances thru different kinds of insurance can be beneficial and act like a security for future.
The pooling of risk can be done from one or more sources. Hence spreading/dividing the burden from a single source.The risk could be single or multiple types.
Promotes business activities
Insurance activity builds and shapes different kind of opportunities as multiple service providing companies are linked once the insurance is matured.
Provides employment opportunities
Insurance is a progressive industry and with introduction and development of new policies in helps in creating new job opportunities which requires special skill sets.
Maintains economic stability
It converts accumulated capital to productive investments.It also helps in financial stability and promotes trade and commerce for economic development and growth.
Assures financial compensation
A financial compensation is provided in many types of insurance. If we take an example of Life Insurance, we realize that once the term has ended or due to the demise of the insured, the compensation is given to the family.
Why Anar Insurance ?
Anar Insurance works towards simplifying and speeding up the process of buying insurance and financial services from varied available options by combining complete, impartial online information with the offline help of experienced insurance professionals.
- Providing security.
- Spreading Risk.
- Encourage savings.
- Source of Collecting funds.
- Provides employment opportunities.
- Maintains economic stability.
- Promotes business activities.
- Assures financial compensation.
- Reduces financial losses.