Life Insurance
What is Life Insurance?
Life Insurance is a vital financial tool that offers protection and peace of mind to individuals and their loved ones. It is a contract between an individual and an insurance company, where the individual pays regular premiums, and in return, the insurance company provides a payout to the beneficiaries upon the insured's death. There are different types of life insurance policies available in the market, such as term life insurance, whole life insurance, and universal life insurance. Each policy has its unique features and benefits, making it essential to understand the options available to choose the one that best suits your needs. Life insurance provides invaluable support during challenging times, offering peace of mind and a sense of security for the policyholder and their loved ones. By securing life insurance, you can ensure that your family is protected and supported financially, even when you are no longer around.
Features of Life Insurance
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Financial Security for Your Family
Life insurance ensures that your family remains financially stable in case of your untimely demise. The payout received by beneficiaries can help cover daily expenses, education costs, and other financial obligations.
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Tax Benefits
Life insurance policies provide tax benefits under various provisions of the Income Tax Act, 1961. Premium payments are eligible for deductions under Section 80C and offer tax-free payout as per prevailing tax laws
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Wealth Creation & Savings
Some life insurance plans, such as Unit-Linked Insurance Plans (ULIPs), serve as investment tools that help policyholders grow their wealth while ensuring financial protection.
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Retirement Planning
Pension and annuity plans provide financial stability post-retirement, ensuring a steady income stream for a comfortable and worry-free retirement.
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Coverage for Critical Illness & Disability
Many insurers offer riders that provide coverage for critical illnesses, accidental death, and disabilities, offering financial aid during medical emergencies.
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Peace of Mind
Life insurance provides assurance that your loved ones will be taken care of financially, reducing stress and ensuring peace of mind.
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Flexible & Customizable Plans
Insurance providers in India offer a variety of plans, including term insurance, ULIPs, child plans, and retirement policies, allowing individuals to choose coverage that aligns with their financial goals and needs.
Types of Life Insurance
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Saving Plans
In case of any unfortunate event during the plan's duration savings plans provide a payout to the beneficiary. They offer a fixed amount on maturity.
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Child Plans
Secure your child's future with a child plan that combines savings and life insurance. Get additional benefits in case of a parent's demise.
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Unit Linked Insurance Plans (ULIP)
Invest and get life insurance coverage with a ULIP. Build a corpus for your financial goals by investing in Equity and Debt funds
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Retirement Plans
Build a corpus for a comfortable retirement with savings and pension plans. Get regular pay outs to maintain your lifestyle.
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Term plan
Term life insurance is a contract between the policyholder (insured) and the insurance provider. In the unfortunate event of the policyholder's passing during the policy term, the insurer provides a predetermined sum to the insured's family
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Our recommended Insurance Solutions
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Life-Insurance
HDFC Life Sanchay Plus
UIN: 101N134V24
A Non-Participating, Non-Linked Savings Plan that offers secure future of family and shape up a legacy for them
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- Life cover to protect the family's future
- Steady retirement income with Life Long Income
- Guaranteed1 Benefit Payouts.
- Guaranteed Income for a fixed term of 10, 12, 25, 30 years or lifelong.
- Tax benefits as per prevailing tax laws3.
- Return of total Premium(s) paid at the end of Payout Period.
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Term Plan
HDFC Life Click 2 Protect Super
UIN: 101N145V07
HDFC Life Click 2 Protect Super is a thoughtfully designed insurance plan that offers you flexible coverage and protection, evolving as your life changes.
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- Protection : Get coverage that adapts to different stages of your life.
- Life Stage Protection : Increase your cover upon significant life events like marriage or childbirth with the Life Stage option.
- Flexible Coverage Options : Choose from multiple coverage options to best suit your individual need
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ULIP
HDFC Life Click 2 Invest ULIP plan
UIN: 101L100V05
Grow your investments without compromising your family’s security.
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- This product provides market-linked returns while ensuring financial security for your family.
- Enjoy potential tax benefits in accordance with prevailing tax laws8.
- Choose from multiple fund options tailored to suit your investment preferences.
- Single payment options are available for added convenience.
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1. Provided all due premiums have been paid and the policy is in force.
2. Applicable for life long and long term income option.
3. Tax benefits are subject to provisions as per Income Tax Act, 1961. Tax laws are subject to changes.
4. This applies to Income Variant, whereby guaranteed income is paid on survival of Life Assured during the policy term, provided all due premiums are paid during the premium payment term.
5. ROP – Return of Premiums. This applies to Income variant, whereby all base premiums are returned to policyholder on survival of Life Assured at maturity, provided all due premiums are paid during the premium payment term.
6. Quantum of benefits is guaranteed irrespective of the experience.
7.Loyalty addition would be added to the fund starting from 10 Policy Anniversary for the other than ‘Single Premium’ policies paying Annualized Premium of ₹ 1,00,000 at least and for all the Single Premium paying policies.
8. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws
9. Available under Level Cover with Capital Guarantee and Decreasing Cover with Capital Guarantee plan options.
10. With unlimited free Switching. Available under Level Cover and Decreasing Cover.
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Why Choose InCred Premier?
Not sure which insurance product suits your needs?
Talk to us! Let us help you
Mail us: care@incredpremier.com
Call us: 8047593769
Frequently Asked Questions
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It provides financial protection to your family in case of your death, covering
expenses like debts, living costs, and education. Ideally, you should take
adequate insurance cover for your Human Life Value (HLV). -
You pay premiums, and the insurer provides a sum assured to your beneficiaries
upon your death or after a set period. -
Human Life Value (HLV) is a financial measure that calculates the economic
worth of an individual based on their earning potential, expenses, liabilities,
and future financial contributions. It helps in determining the right amount of
life insurance coverage required to secure one’s family in case of an untimely
demise. -
HLV can be calculated using Income Replacement Method, which estimates
future earnings by deducting personal expenses and multiplying by the
remaining working years. Using an HLV calculator or consulting a financial
advisor can help determine the ideal coverage. -
Insurance Premium is calculated basis multiple factors like age, health, occupation,
sex, policy type, and sum assured of the proposer. -
After an event like death, the nominee submits a claim with required documents, and
the insurer disburses the sum assured after verification. The claim is disbursed to the
nominee and it is nominee’s responsibility to transfer the amount to the legal heir. -
Yes, an insurance policy can be cancelled within the free-look period. You will get a
refund after deducting minimal charges. After this period, policies can still be
cancelled, but the refund amount depends on the insurer’s terms, policy duration,
and premium paid.
