05 Oct Everything about life insurance !
Living a peaceful life is one of the biggest assets that a human could be thankful for. But unfortunately, time changes and unexpected situations may pertain to exist that may prove to be disastrous. To overcome situations like these, we may need to think of solutions that help us protect ourselves; and life insurance is one such option. We at Metis Marketing Services Pvt Ltd are here to answer all the general trivia about life insurance and help you with the same.
What is life insurance?
Life insurance is a contract between the policyholder and the insurance company that provides a compensation for the loss of life. That amount can be used to meet the immediate needs of the family such as those of health, education, marriage etc. Metis Marketing Services Pvt. Ltd provides life insurance from the best insurers at hassle free prices.
When the needs and preferences of people are different, the plans of life insurance naturally vary. Broadly, there are five types of life insurance that the people can choose from, with the help of Metis Marketing Services:
- Unit-linked insurance policy (ULIP): The ULIP divides the premium paid into two halves- one for life security and the other for building wealth. Also, with this policy, a partial amount can be withdrawn as per the needs of the insured.
- Term- insurance plan: This type of plan is purchased for a fixed period of time, say 10 or 20 years. These plans do not carry any fancy benefits and are hence relatively cheaper.
- Endowment policy: An endowment policy is similar to the term insurance plan except the fact that it provides the insured a lump sum amount if he survives till the maturity date.
- Whole life policy: This type of policy is extended to the entire life of the insured. The person can not only withdraw money partially from the amount but can also borrow against it.
- Pension plan: Also known as an annuity, the plan distributes the premium collected in the form of assets or income as per the guidelines to help you have a peaceful retirement.
There are two ways in which the amount of the policy can be claimed; one is the death claim and the other is the maturity claim.
On the demise of the insured, the beneficiary needs to submit:
- Death certificate of the deceased
- Identity proof of the nominee
- Original policy bond
- Claim form
On maturity of the policy, the following documents need to be submitted:
- Original policy bond
- Maturity claim form
The insured or family of the deceased can claim the amount depending upon the prevailing circumstances and Metis Marketing Services is by your side to provide the piece of advice that you need. Being insured is as necessary as breathing. Therefore it is time that you think on your feet and get a life insurance.