Life Insurance Articles

Last Updated : Oct, 2024

New surrender value norms for life insurance

New Surrender Value Norms For Life InsuranceSurrender value is the amount paid by the insurance company to the policyholders if they stop paying further premiums due for any reason. IRDAI has recently issued new surrender value norms for traditional endowment policies. These norms are applicable starting from October 1, 2024. Let’s understand what these norms are and how they are going to impact the policyholders in the long run.Key TakeawaysNew surrender value norms are applicable startin...

Written By : Himanshu Kumar

Last Updated : Sep, 2024

Life Insurance Terminologies- Every Policyholder Must Know

Life Insurance Terminologies: OverviewLife insurance is one of the best investments of your life as it offers financial coverage to your loved ones in case of your unfortunate demise. However, people often need clarity about the meaning of life insurance terms. A clear understanding of life insurance terminologies helps you make smart and informed decisions.This article provides you with a comprehensive understanding of the terminologies of life insurance so that you can make the right decisions...

Written By : Himanshu Kumar

Last Updated : Sep, 2024

Money Back Policy

Money Back PolicyDid you know? According to the IRDAI annual report, out of 100 life insurance policies sold, only 30-40 will complete their tenure. Yes, you heard it right. The most common reason for surrendering a policy is the inability to fulfil it financially.So, what if we tell you that some policies start paying you right after the end of the premium payment term? In the article, we will discuss money-back plans and why these plans are quite popular nowadays.What is a money-back policy?Mo...

Written By : Himanshu Kumar

Last Updated : Sep, 2024

Benefits of ULIPs

Benefits of ULIP PlansUnit Linked Insurance Plans (ULIPs) offer the dual benefit of life insurance and investment, wherein you can build wealth along with life cover to protect your family. Besides a life cover or impressive returns, ULIPs give you the flexibility to make your investment choice as per your risk toleranceIt even helps you achieve various future goals, whether for early retirement planning, health, child education and marriage, or investment purposes. These plans come with several...

Written By : Sahil Singh Kathait

Last Updated : Sep, 2024

Life Insurance For Business Owners

Life Insurance for Self-Employed and Business OwnersBeing a businessman or self-employed might sound exciting, but it comes with a lot of risks, such as inconsistent income, legal risk, taxes, etc. When you’re running your own business, you’ve got to be prepared for any uncertainties because profits and sales may not always be the same. Therefore, buying life insurance for business owners is important because it offers financial protection for their family and business. With life ins...

Written By : Sahil Singh Kathait

Last Updated : Sep, 2024

What is Universal Life Insurance?

Universal Life Insurance: OverviewUniversal Life Insurance is a permanent life insurance policy that invests the money into two components - lifelong coverage and investments. The life coverage provides death benefits to beneficiaries in case of the policyholder’s demise while your investments create a cash value component or savings pool.In a universal life policy, a policyholder can change the premium amount as well as death benefits as per his financial needs. In case the investment und...

Written By : Himanshu Kumar