Bhavin Modi

Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care and health system expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.

Personal Accident Insurance

Personal accident insurance supplements are a form of injury insurance that can be used with any licensed doctor, emergency room, clinic, or urgent care facility.Supplements are not insurance but a indemnity that pays a predetermined amount which is called the policy face value. The primary purpose of indemnity plans is compensation for a financial loss. That financial loss is the doctor or hospital bill. So look at indemnitys as a form of compensation insurance. Savvy medical insurance consumers seek out this type of plan because they know whats actually paid upfront and people can select which areas of health care they want to insure. One area of health care thats important to insure is the emergency room

Build financial backup & secure family’s future by choosing a “Term insurance plan”. Suitable for someone who wishes to ensure adequate financial backup is available to the family in case of his/her untimely death.

Be financially secure by choosing an “Investment plan” to meet financial goals like child’s education or stable income source for post-retirement. Suitable for someone who is looking for long term wealth creation through Market linked or Guaranteed returns in addition to family’s protection through in-built life cover.

Financial Security

The primary benefit of a life insurance policy is that it provides long time financial stability to the policyholder’s family in case of any unfortunate event.
Death Benefit

In case of any unfortunate event with the policyholder, the insurer provides financial protection in form of a death payout. The appointed nominee receives the entire sum assured plus the bonus accumulated over a time
Maturity Benefits

When the policy matures, some life insurance plans offer the policyholder the full premium amount paid during the policy term.
Guaranteed Returns

Life insurance plans guarantee that you receive a fixed amount after a specific term. The return you get can help in paying the loan, child’s higher education, and other expenses.
Wealth Creation

Life insurance Savings plans such as ULIPs offer wealth creation benefits also. In such plans, you can invest your premium amount in different funds based on the risk appetite. These life insurance policies are good wealth-makers in the long run
Tax Benefits

Policyholders can avail of tax savings benefit up to Rs. 1.5 Lakhs u/s 80C of the Income Tax Act, 1961, for life insurance premium amount paid. Also, the payout received from an insurer is exempt from tax u/s 10(10D) of ITA and the premium amount paid for riders such as critical illness can be claimed u/s 80D.
Riders

Riders such as critical illness, waiver of premium, etc. are add-ons to your current base plan, which help customize the policy according to your specific needs.
Flexible premium payment option

Policyholders can choose the frequency of premium payments as per their requirements. For example, you can choose to pay premiums as a lump sum amount for your life insurance policy, or could pay them at periodic time periods like monthly, quarterly, half-yearly, or yearly.
Retirement Planning

Annuity-based life insurance plans give a monthly pension to the policyholder on maturity and help plan a secured retirement.
Loan Facility

Certain life insurance plans provide the option of a loan and allow to borrow some percentage of plan value or the sum assured depending on the policy T&Cs.