Term insurance is the purest form of insurance. The policy will be in force for a particular term (say 30 years or up to the age of 75) and then comes to an end. During the time the term policy is in force, the insured pays a fixed premium to the insurance company at regular intervals. This is called premium, and if during this time the insured dies, the insurance company pays a guaranteed amount of money, known as sum assured, to the nominee of the insured.
When an individual starts earning, he is expected to earn till the time he retires and his family is dependent on his income. With his recurring income and his savings, he fulfills his various financial goals. However, life is uncertain and an unfortunate event such as death or permanent disability can cease his capacity to earn. Hence every individual is required to protect his family against any unfortunate incident attached to his life so that his family continues to enjoy the same standard of living even if he is not alive.
The sole object of a term insurance policy is to protect the customer's family from the financial implications of unfortunate circumstances that one cannot foresee.
These term insurance plans are pure risk cover plans with or without maturity benefit. These pure risk plans cover your life at a nominal cost and you may want to take this term insurance plan to cover your outstanding debts like a mortgage, a home loan etc.
It's the last quarter of the financial year and the time has come to turn your attention to tax planning
Investors should not just buy insurance without giving it much thought apart from saving tax.
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Insurance is the subject of the solicitation. For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Service tax and education cess will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.
The returns as indicated in the Sales Illustration are only illustrative and they are not guaranteed. The illustrative returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.
The results displayed in the calculators are based on certain assumptions about the rates of return. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.