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Upto 12% Discount* on first year premium

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* T&C apply | BJAZ-WB-EC-04701/23

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*5% Discount applicable for customer's first individual life insurance policy, applicable only on first year’s premium. | 5% Discount for salaried customers, applicable only on first year’s premium. | 1% Discount on online purchase is available for regular premium payment and limited premium payment frequency. | 1% Discount will be available for all policies where premium payment is under auto-debit process (as allowed by RBI from time-to-time) through-out the premium paying term.

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116.

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*5% Discount applicable for customer's first individual life insurance policy, applicable only on first year’s premium. | 5% Discount for salaried customers, applicable only on first year’s premium. | 1% Discount on online purchase is available for regular premium payment and limited premium payment frequency. | 1% Discount will be available for all policies where premium payment is under auto-debit process (as allowed by RBI from time-to-time) through-out the premium paying term.

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

Buy Life Insurance This Diwali and Secure Your Loved Ones

On coming October 24th everyone would be celebrating Diwali, the festival of lights. Diwali is the festival of lights and new beginnings. It is probably one of the biggest festivals in India, cutting across all castes and creeds. It is the time when people come together forgetting their personal and cultural differences. Every year, Diwali symbolises banishing the darkness with light. While people decorate their homes and light them up with diyas and lamps, how about lighting up the lives of your loved ones?

Diwali is also the time for gifting and so people buy different types of gifts for their loved ones. However, this Diwali, what about giving your family long-lasting happiness in the form of financial security?

 

Life insurance and Diwali

 

Life insurance plans can go a long way in securing the financial future of your loved ones. It can give them financial security in your absence and ensure they lead a comfortable life. That is why buying a life insurance policy this Diwali can be a suitable gift that you can give your loved ones.

 

How does life insurance secures the lives of your loved ones financially?

 

Wondering how life insurance secures the lives of your loved ones financially? Here are some ways –

1. Term insurance and financial security

When talking about financial security, the first thing that may jump to mind is a term insurance policy. The plan covers the risk of premature death, at affordable premiums. Thus, if you are the breadwinner for your family, you can insure your life under a term plan. The affordable premiums allow you to opt for an adequate sum assured so that your family’s financial needs are optimally met. You can use the life insurance calculator to find the optimal coverage level and opt for it.

After you buy a term insurance policy, you can give financial security to your family. In the event of your untimely passing, your family would get the sum assured provided all due premiums are paid. This benefit would help them meet their financial loss and live a comfortable life.

Wouldn’t you want that?

2. Child plans for your child’s future

This is for parents who dream of providing the bright financial future for their children. Have you ever wondered how your child’s future would look like if you are not around? While you might toil day in and day out and save for your child’s future, the savings would be affected in case of your premature demise. That is why you need to make a corpus that remains unaffected even when you are not around. Child insurance plan is an investment cum insurance plan from life insurance companies, which offers financial safety to your child’s dreams and goals and provides a safety cushion to the corpus in case of your untimely demise.

3. Saving plans for your financial goals

Your family might have different financial goals, like buying a house or a car, going for an international vacation, saving for buying a home appliance and the like. While you might save for these goals, an untimely demise might throw a spoke in your savings wheel. That is why you can consider savings plans, like endowment, and money back, to create a secured corpus for your goals. While these plans would allow you to save up over the life insurance policy tenure, they also cover a death benefit in the case of unfortunate emergencies.

So, with savings-oriented life insurance plans, you can save for your and your family’s financial goals and ensure that the goals are fulfilled whether you are around or not.

4. Health plans for medical emergencies

Lastly, you cannot avoid medical emergencies springing up when you least expect them to. These emergencies can wipe out your savings given the expensive medical treatments in current times. You, thus, need a health insurance policy to cover your medical expenses and give you financial assistance in times of uncertainty. The Critical illness plans/riders offered by life insurance companies give you a lump sum benefit on diagnosis of critical illnesses and help you deal with the financial implications. What’s more, they also earn you a tax benefit under Section 80D1 of the Income Tax Act, 1961 subject to provisions stated therein.

With a critical illness plan in place, you can afford the required treatments for you and your loved ones should an emergency arise.

With the different types of life insurance plans and their different features, you can give your loved ones the financial protection that they deserve. Whether it is providing financial security, creating a corpus for your child’s future, saving for your financial goals or meeting the financial demands of a medical emergency, life insurance plans come to your rescue.

So, this Diwali, make your celebrations more meaningful. Consider investing in different types of life insurance plans and give financial security to your family. Choose from the different insurance policies depending on your needs. Use the life insurance calculator to get adequate coverage and build up an insurance portfolio that caters to every need and every goal.

Source

1https://cleartax.in/s/medical-insurance

BJAZ-WEB-EC-01471/22

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##Our policy covers COVID 19 claims subject to policy terms and conditions being met

3Discount is available for regular premium and limited premium payment frequency under all variants of this product.

2Above illustration is considering Male aged 25 years | Non-Smoker | Life Cover Variant | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | medical rates | Annual Premium Payment Mode | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

In this policy, the investment risk in investment portfolio is borne by the policyholder. Investment in ULIPs is subject to risks associated with the capital markets. The policy holder is solely responsible for his/her decisions while investing in ULIPs.

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information. 

The views stated in this article is not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale.