Things to Consider to Choose the Best Pension Provider For Yourself

Choosing a pension provider is difficult. Understanding the various tips you need to consider to make a decision.

Retirement planning is something we all worry about after we have taken care of marriage goals and the education of children. When you look at pension providers you will be amazed to see the choices available and you are bound to be confused. It is a tough choice to make as this is the entity you will trust with your money and will give you the service you need.

When you are looking for a pension provider there are some basic tips you need to keep in mind. Some of these are:

Look Around

When it comes to personal pension, there are many options available. You should ask for relevant information from the providers. You can ask for the documents like a brochure which will list down all details of the plan provided. All companies are liable to provide this information and you can use this to shortlist pros and cons of each plan. You can also look at reviews and expert opinions available online or discuss with people as this will put you in a comfortable position to understand the advantages and disadvantages of each provider and the plans they offer.

Type of Pension Plan

When you are looking at a pension plan, there will be various options available and they all have their own costs and benefits. You can choose from the following:

• National Pension Scheme
• ULIP Retirement Plans
• Traditional Retirement Plans
• Retirement Plans by Mutual Funds
• Creating your own portfolio

Depending on the kind of plan you choose you will have different options of providers. Once you have decided what suits your needs and requirements the most, you will be able to shortlist the providers. You can take some help from advisors or do a research independently to know the best provider for the kind of plan you choose.

See the Costs

The pension plan you choose will have its own costs, and you must look at these very carefully. There are some plans which might look cheap when you take them but might have high costs later on. You must see the premiums you are expected to play. All the costs and the payments you make towards the plan must be affordable and not become a burden which you cannot carry. You must select the provider which offers economical and affordable plans to you.

Investment

In most of the pension plans, the provider will invest your money to ensure good returns. if the provider will be taking most of the decisions of how the money will be invested, you must be sure of their choices and be happy with their plan. Keeping this in mind, you must review each provider’s plan and see how much say you have in the way your money is invested.

Retirement Options

Various providers offer different plans which have options on how you get the money post retirement. Some plans give a sum assured whereas some give monthly returns. You must see these options carefully and choose the one which will be suitable the most depending on your needs once you retire. You need to see the pension amount and also what you want to do with it, as this will help you choose the provider carefully.

Research or Seek Advice

Pension plan providers have a huge responsibility to manage your money and ensure you get good returns. This money will take care of all your needs once you stop earning. This implies you must choose the provider carefully. Do a lot of research and reading to list down options and see the pros and cons of each. If you are still confused, you must seek help from experts who will assess your financial conditions and suggest the best provider and the best plan they offer.

Choosing a pension provider can be a tough task and you have to take care of several factors before you choose one. A well-informed decision will help you get good returns during the time of life when you need the money the most and ensures you are independent. Your future is dependent on your pension and thus, you must consider the above factors to choose a provider and help you maintain your lifestyle.

Source: Things to Consider to Choose the Best Pension Provider For Yourself

Underinsurance is as Good as No Insurance Says Aegon Religare Life Insurance

Advertisements in the insurance industry are common and historically, it has been seen they are aimed at convincing customers to buy insurance. Aegon Religare Life Insurance, in their new series of advertisements, featuring Bollywood actor Irfan Khan has touched upon a new and a very important aspect of insurance called underinsurance. The series of advertisements talk about KILB which is “Kam Insurance Lene Ki Bimari”. This series of advertisements focus on the fact how people buy an insurance cover with a nominal sum insured and do not put a thought into it while buying a policy.

Though more and more people have become aware of the importance of insurance, it has been seen that most of them do not have the knowledge and as a result buy life insurance policies which do not provide proper coverage. This step consequentially puts the financial future of their loved ones at stake. Taking insurance is essential but being underinsured is as good as having no insurance.

Underinsurance

By underinsurance, we imply that the life insurance taken by the policy holder is not sufficient to financially secure the future of the family. In the present times, the cost of living has increased by leaps and bounds and having an insurance for a couple of lakhs is not sufficient. Following are some of the reasons why people in our country or rather in many parts of the world underinsured:

• Insurance policies are usually bought to avail tax exemptions and are not seen as an instrument that will help in the times of an emergency. The policy that is bought by the insured is dependent on the premium payable rather than the coverage.
• In India, still, most of the policies are sold by agents who are more concerned about their commission rather than selling a good product to their clients. They try to sell expensive policies and not help the client decide an important coverage.
• There are different products available in the market which provide insurance. Lack or incomplete knowledge results in the wrong choice of policy which affects the premium and can cause discontinuation of the policy.

Disadvantages of Underinsurance

When an individual buys an insurance policy, they feel they have secured the future of the policy and stop focusing on more savings. If the policy does not provide adequate coverage and there are not enough savings, it will be the bad situation for the family in times of an emergency. The realization of being underinsured comes to the surface when there has been a mishap and at that time there is not much which can be done. With less money coming in from the insurance company, managing all expenses and debts becomes a big issue.

Underinsured-What Next?

When buying an insurance policy or when one realizes they are underinsured, they must calculate the amount of insurance cover needed to meet all expenses and other liabilities in the future. The general rule applied here is to have a sum insured which is equal to 15 times of the annual income of the policy holder. This rule has its own limitations like living standards, liabilities, age etc.

When the insured realizes, they are under insured, they must look at buying a policy which has an adequate sum insured and which will meet all their expenses after accounting for inflation. One of the best ways to rectify the fault is to buy a product like a term insurance which will help one increase their sum insured.

The whole purpose to buy a life insurance policy is defeated if you are underinsured. Aegon Religare Life Insurance is trying to create this awareness by their advertisements. When one realizes that their insurance cover is not appropriate they should try and find the best solution to increase their sum insured and coverage. Aegon Religare Life Insurance Company provides many terms and other life insurance plans which provide an appropriate life insurance cover which can take care of all the needs of the family in times of an emergency. The company has a strong customer support and staff which readily helps to decide the right amount of sum insured. All people must take into account the future needs and buy a policy as Aegon Religare rightly says, that being underinsured as good as not being insured.

Source: Underinsurance is as Good as No Insurance Says Aegon Religare Life Insurance

PNB MetLife explains why life insurance for the wrong reasons can jeopardise your future financial goals

Life insurance policy, if selected well and with the right mindset, can provide you the much necessary financial cover in case of any unforeseen situation. However, there are several buyers who buy the life insurance coverage just for the sake of it without knowing the actual reasons behind that. According to PNB Metlife, many buyers invest money in life insurance for certain wrong reasons which are explained below:

Want to Save on Tax:

The first and the foremost reason for which people buy life insurance cover is to save on their income tax. There are many other better ways by which you can claim tax benefits under section 80 C than using the life insurance policy to cover that. Because of this tax saving attitude, many buyers simply purchase the life insurance cover blindly without reading the terms and features and regret later at the time of making a claim for having purchased a wrong policy. Thus, one wrong decision and you can put your family’s financial needs at complete risk.

Want guaranteed returns:

Many buyers are duped by several agents to buy a life insurance cover which can also work as an investment option. By doing this, they unknowingly end up giving higher premium which ultimately increases their overall annual premium for the policy. Also, the returns provided under this scheme will never match some of the other investment offers that government is paying such as PPF account. Also, the buyer is attracted so much by the returns offered that he compromises on his actual motive of buying a life insurance policy, thereby again putting his future financial needs under huge peril.

No Medical check-up required

Many insurance companies allow the buyer to purchase a life insurance cover without actually they undergoing a medical check-up in case the sum insured is less than Rs 5 lakh. Some incognizant buyers easily get into this trap and purchase this policy without weighing the pros and cons of this. Never buy a policy without a proper medical check-up performed. Proper medical check-up puts the onus on the company so that later on they cannot deny the claim to the insured on account of any medical reasons. Never buy a policy in case the insurer is lenient; in fact, you should follow the proper rules before purchasing it so that you do not face any issues at the time of settling the claims in future.

Personal Favours

Many people opt to buy life insurance out of personal favors instead of a genuine need. It may happen that sometimes, an agent may try to lure a customer who happens to be his friend or a family member with a view to achieving his own targets. This can put you in a very tricky situation where you may be forced to buy an insurance even though you really don’t need it or when you are covered under another policy. He may even try to offer you some extra discount to complete the deal. Please remember that it is better to say a firm no in the beginning rather than buying the policy reluctantly.

Others are also buying

A very wrong notion that can house your mind is that a policy ought to be good if your best friend has bought it. Please remember that life insurance policy is for your own self or for your family’s needs. A policy that works well for your friend or relative may not work well for you. The benefits of the policy may depend on several factors such as medical conditions, eating habits, lifestyle such as smoking or non-smoking habit, inherent disease etc. Hence buying the same policy as your friend’s makes no sense since the two of you can never be same physically. Hence don’t buy the policy following the footsteps of your friend or family member but have a strong rationale behind this.

At the end of the day, PNB Metlife Insurance is a cover that can shield your family in case of any inevitable unfortunate incident. It is better to plan in advance than regret later. This policy should be purchased only if your reasons are valid and genuine. Buying a life insurance cover out of impulsive mindset can only do more harm to your family than good.

Source: PNB Metlife Explains why life insurance for the wrong reason can jeopardise your future financial goals

Secure your family’s financial future at an affordable cost with Bajaj Allianz iSecure plan

We live in a volatile time where nothing, including your own life, is guaranteed. Buying a life insurance is the only way by which you can safeguard yourself as well as your family members against the unforeseen and unknown. Insurance is essentially a pact between the insurer and the insured where the latter pays a regular premium in lieu of which the former provides a financial cover in case of any uncertainty. You should always aim for a reliable and trustworthy insurance company which can offer different plans based on your needs.

Hereby presenting before you, the Bajaj Allianz iSecure level term cover that can secure you’re as well as your family future needs at a very affordable cost.

About Bajaj Allianz iSecure plan

This is one of the simplest and basic yet most important policy covers that you can purchase for yourself and your family. It provides a financial cover to you for the duration of the policy as agreed upon while buying it. The policy is active till the insured archives the age limit opted for, after which it ceases to be active. In the case of the death of the insured within the term of the policy, the nominee is liable to get the policy benefits from the insurance company.

Types of Bajaj Allianz iSecure policy covers

Bajaj Allianz offers two types of policy covers with an aim to cover maximum people with differing needs:

Annual Renewable Term Insurance Plan: As the name suggests, this gives a cover only for one year at a time after which you will have to renew it. The premium charged is extremely low initially but may rise along with your age.

Level Premium Term Insurance Plan: This is another very popular type of insurance coverage that can be purchased at once for a certain duration of time. Generally, the terms available are 5 years, 10 years, 20 years, 30 years etc. You can select any plan depending on your entry age and your needs. In this category, you pay a fixed premium every year for the term of your policy.

How does a plan work?

The plan is designed in such a way that you get the best features at an affordable cost. Besides this you can customize the plan as per your needs by following the below steps:

Step 1: You can select a plan for yourself or a joint plan with your spouse. In case you get married at a later stage, there is a provision to include your wife in the plan at a later stage

Step 2: The next step is to choose the amount of coverage based on your need and preference. Higher the amount, higher will be the cover and more will be the premium

Step 3: You can then choose your term of the policy and the payment frequency. This can be easily altered to suit your financial needs thereby making it affordable.

Step 4: You can select your lifestyle like Non-Smoker or Smoker in case the sum assured is Rs 20,00,000

Features and Benefits

The benefits of this plans can be categorized under three heads:

Tax Benefits: Premium paid is exempted for tax benefits under section 80 C. Additionally, death benefits are also eligible under Section 10 (10 D) of Income Tax.

Individual Life Benefits: In the case of an unfortunate event of the death of the insured, benefits equal to the sum assured will be paid to nominee provided all the premiums are paid till date. The policy will cease to operate with immediate effect.

Joint Life Benefits: The benefits are payable on the death of each life till the time policy is active. In the case of death of any one member, the policy will continue to be active on the surviving life.

With the increasing life span, it makes sense to make provision to lead your life with a high sense of comfort and safety. It is true that no one has seen the future but you have the power of present to secure your future. Bajaj Allianz iSecure plan empowers you to secure the financial future of yourself as well as your family at a minimum price.

Source: Secure your family’s financial future at an affordable cost with Bajaj Allianz iSecure plan

ASK THE EXPERT BIRLA SUN LIFE INSURANCE: IS IT TIME TO UPGRADE YOUR LIFE INSURANCE?

Since you are a financially savvy person with an open mind and you have already chosen a life insurance plan for yourself, it is now time to evaluate the need to upgrade. In this fast moving dynamic world where things change within seconds, are you ready to take on life’s most important decisions and responsibilities especially in your absence with a Life Insurance Plan? So, be it retirement, kid’s education or any other financial responsibilities that you may have, you need to plan well ahead in time.

Evaluate

It is also very important to evaluate the requirements according to the need of your family. Even Maslow’s “Hierarchy of Needs” highlights the second most important need after Physiological Need are Safety Needs. Safety needs cover Personal Security as well as Financial Security. Personal Security would include health and well-being and safety against accidents and illness as well.

 

The essence of Life Insurance:

Let us understand what the real essence of Life insurance is all about-

Life Insurance is an agreement between the insurance company and the policyholder wherein the insurer guarantees to pay assured amount to the insured at the end of specified time period or at the time of the demise of the insured whichever is sooner. The insured pays a predefined sum of money in the form of premium either at regular intervals or in a lump sum. This is the technical definition.

However, Life insurance really is your Plan B. It is the secure and safe way to protect your family against financial contingencies. Not only does it protect you and your family members but it also provides you with Tax benefits as the premium paid towards Life insurance gets tax exemption under Section 80C.

You must be wondering how much coverage is required. This depends on various factors like marital status, age, dependents, family history, etc. Moreover, your life insurance coverage must be reviewed from time to time as your priorities change according to time.

 

The expert talk:

The leading insurance company Birla Sun Life Insurance Company Limited talks about the need to upgrade your Life Insurance Plan. Each one of us wants to have sufficient wealth and secured future. However, how many of you have actually planned it ahead of time? By planning, I mean, penning it down. As long as your Financial Goals are not pinned down, they are simply dreams and wishes and not goals. For fulfillment, they need to first become goals and then planned well in advance so that they are fulfilled under all circumstances.

 

Time to Upgrade:

Birla Sun Life Insurance Company Limited explains why you need to upgrade your Life Insurance Policy. In India, Life Insurance is often sold and not bought. Hence, more often than not, life insurance is a by-product of tax saving needs and sudden push sales by an agent or a favor to a bank manager in lieu of some service. However, it is now that you need to realize that Life Insurance portfolio can make a huge difference to your Financial Goals and cam actually help you achieve them.

 

Step 1: Pen down your Financial Goals in a SMART way, i.e. Specific, Measurable, Achievable, Realistic and Time Bound.

Step 2: Once your goals are penned down with the SMART parameters, it is very easy to map each and every goal to a specific product.

Step 3: Evaluate whether your current plans or products are in sync with your financial goals and they meet all your needs.

Step 4: If not, it’s time to act now. Upgrade your Life Coverage so that your Plan B is in place.

Step 5: Once you evaluate and upgrade, stick to your plans and remain invested.

And finally don’t forget to review your portfolio next year to check if the plan is as per your need or your need to further upgrade according to your changing lifestyle, needs and wants. Change is the only thing that is constant in your life and so will your financial portfolio need evaluation. It is not a destination but a journey. So, keep an eye on your portfolio with the other one on your life coverage, which would come handy in case something unfortunate were to happen to you.

Hope for the best but prepare for the worst, is what the experts at Birla Sun Life Insurance Company advises!

Source: Ask the expert Birla Sun Life Insurance: is it time to upgrade your Life Insurance?

Smart Insurance coverage offered by SBI Life Investment Plans

State Bank of India is truly the banker to every Indian. The financial institute, which has been around for many, many years always tries to offer innovative services and products to its customers. The latest offering is the SBI Life Smart Guaranteed Savings Plan. SBI Life offers some of the best insurance plans and the SBI Life Smart Guaranteed Savings Plan is a policy that combines insurance and investment. Read on to know more.

What is the SBI Life Smart Guaranteed Savings Plan?

The Smart Guaranteed Savings Plan from SBI Life is a non-participating investment policy that helps you save a fixed sum of money for a fixed number of years. The plan provides a guaranteed return each year. The return is calculated on the premium paid is in the range of 5.5% to 6%. The return is added to the principal and your money continues to grow. If you happen to die during the policy period, SBI Life pays a death benefit amount to your nominee. In this manner, you can safely invest your money in a non-volatile investment option and also insurance your life along with it. The benefits are twofold and you end up with a great policy.

How does the SBI Life Smart Guaranteed Savings Plan work?

Let us take a detailed look at the plan and understand how it helps in investing your money safely.

• Entry age: Between 18 years and 50 years

• Maturity age: 65 years (maximum)

• Policy period: 15 years

• Premium paying period: 7 years

• Premium frequency: Annual

• Premium amount: Minimum Rs 15,000 and maximum Rs 75,000

• Guaranteed additions (GA): 5.5% of the principal if the premium paid is between Rs 15,000 and Rs 29,000 and 6% if the premium is between Rs 30,000 and Rs 75,000

The plan is a pretty straightforward plan with uncomplicated features. It is easy to understand and even easier to invest in.

What are the advantages of the SBI Life Smart Guaranteed Savings Plan?

The key advantages of the plan are as follows:

• Your nominee gets a death benefit if you die within the policy period.

• You get a sum assured if you outlive the policy period. The sum assured is the maturity benefit and the accumulated GA, calculated together.

• You get a tax benefit on the premiums paid (under Section 80C) and the claim amounts (Under Section 10 (10D)).

The verdict

So as you can clearly see from the points mentioned above, the SBI Life Smart Guaranteed Savings Plan is a wonderful policy. If you are looking for a savings option that allows you to invest in a secured manner and also insures your life along with it, you need not look any further. The Smart Guaranteed Savings Plan from SBI Life is a tailor-made product for you. You can buy the plan via an insurance agent or you can buy it online. So what are you waiting for? Be smart and invest in the SBI Life Smart Guaranteed Savings Plan today!  

Source: Smart Insurance coverage offered by SBI Life Investment Plans

Kotak Life Insurance explains the factors to consider while choosing an online term plan

Buying an online term plan has become very common these days. The main reason behind this is the convenience they offer. The term plans can easily be bought in a short span of time. Additionally, they are less expensive too. These factors make the online terms plans from large insurance providers like Kotak Life Insurance much sought after. However, you must be cautious and keep a few things in mind before you choose an online term plan. Take a look at this article to find out what they are.

Factors to consider when buying an online term plan

Tenure: A term plan is taken to secure the lives of your loved ones if you were to die unexpectedly. As a result, you have to analyze the term for which you want to stay protected. The earnings from a term plan typically work as an income substitute so it makes sense for you to stay protected till an age when you would still be earning. If  you have young children, look to buy a policy that will continue for a longer period and ensure maximum protection  your kids for the longest possible time.

Sum assured: Next, you have to decide the value of the term plan. This is the sum assured that your  will get at the time of a claim. Keep all your expenses, such as the EMIs you pay, the cost of your children’s education, the monthly utility costs, etc in mind when selecting the sum assured. If you were to die, your family members should have enough money to pay off all the liabilities and bills and enjoy a similar lifestyle they did with your income.

Payouts: You can opt for a lump sum payout of the death benefit or you can opt for periodic payouts. This is an important factor to consider. If you have dependent family members, you can choose to divide the death  parts and assure that they get some financial assistance at different life stages. If  you have a specific reason for which you want to take the term plan (protect your  against a large home loan), you can opt for a single payout of the death benefit. This has to be mentioned when you buy the policy.

Cost: An online term plan is much loved because it is comparatively cheaper. So make sure you take the cost of the plan into consideration. Term plans do not give you anything in return if you outlive the policy period. So look to buy a plan that is comprehensive but economical at the same time.

Insurer’s track record: This is an extremely important factor to take into consideration when choosing an online term plan. Do some research and find out what the insurer’s track record in claim settlements is. Opt for the insurance provider who has one of the best claim settlement ratios. If there is a problem at the time of the claim and your  has to suffer because of that, the whole purpose of buying the online term plan will be defeated. And worst of all, you won’t be around to intervene or do anything about it!Keep the points mentioned above in mind and choose a good term plan that’s best suited for you. There are some very good term plans from insurers like Kotak Life Insurance. Go through all the available options and buy the plan that you like the best.  

Source: Kotak Life Insurance explains the factors to consider while choosing an online term plan

Decoding the best child Plan with Max Life Insurance

Rahil had bought a child plan from Max Life Insurance when his daughter, Ayesha was just two years old. He set up the policy in such a way, that the payouts would happen at regular intervals. The first payout was scheduled for when Ayesha would be three years old and needed to be admitted to the school. The next one was 15 years later when she would need college admission. The final one was scheduled for when she would turn 25 years old, and she could utilize the money either to set up a business or to get married. Rahil made a good move as unfortunately, when Ayesha was 10 years old, Rahil lost his life in a road accident. The child plan however continued and took care of Ayesha’s education and well being.

What is a child plan and how does it work?

A child plan is a kind of life insurance policy where the child is the nominee. This means that the life of the parent is insured in the interest of the child. When you buy a child plan, it gives you two advantages:

1. Life cover
2. Periodic payouts

The first component is easy to understand. If you suddenly die during the policy period, your nominee gets a lump sum amount of money to deal with the immediate requirements. This is similar to a regular life insurance policy. However, unlike a regular plan, a child plan doesn’t end when the policyholder dies. The premiums are waived off and the insurer continues to keep the fund afloat and make the periodic payouts as promised in the bond. This helps the child to continue with his or her education and lifestyle needs even in the absence of an earning parent.

What are the best child plans in India?

There are some very good child plans available in India today. Among them is the Max Life Shiksha Plus Super plan. Here, you get the following benefits:

• Death benefit.

• Income replacement where 10% of the sum assured is paid every year to the nominee for the entire policy period.

• It is a ULIP so a part of the money stays safely invested and the other part grows in the financial markets.

• Minimum entry age is 0 month and maximum entry age is 18 years. This is a wide range and no matter how old your minor son or daughter is, you can enroll him or her in the plan.

• The premium paid is tax deductible (under section 80C) and the claim amount is also tax-free under section 10 (10D) of the Indian Income Tax Act.

The bottom line

With the costs of education rising and the health risks increasing too, it is vital for every parent to secure their child’s future. You can do so with the Max Life Insurance child plans. These plans provide the best insurance cum investment options for your child’s benefit. So what are you waiting for? Speak to your insurance agent today or go online and buy a good child plan right away.   

Source: Decoding the best child Plan with Max Life Insurance

EDELWEISS TOKIO LIFE INSURANCE EXPLAINS ALL YOU NEED TO KNOW ABOUT LIFE INSURANCE

Edelweiss Tokio Life Insurance is the joint collaboration between the Japan-based Tokio Marine Holdings Inc. and the Indian counterpart, Edelweiss Financial Services Group. The company was established in 2011 in Mumbai and is a leading player in the life insurance domain in India. Currently, they are operating PAN India and have over 60 branches and over 1500 strong employee base. Edelweiss Tokio Life Insurance has the diverse range of insurance products that cater the need of a wide variety of people from different walks of life and people at different ages and stages of lives.

Their product range, combined with customized financial services, high returns and different benefits for young and aged customers make them the organization of choice when it comes to buying term insurance and related products. In the year 2015-16, Edelweiss Tokio Life Insurance achieved 85.11% Claim Settlement Ratio and 99.09% resolution of grievances.

Products of Edelweiss Tokio Life Insurance

A variety of products is offered by the company. Typically the age of entry is 18 to 60 years. Along with the pure term plan, which offers the benefits only in the event of the death of the insured and during the term of the policy, Edelweiss Tokio Life Insurance offers different term plans to take care of the needs for child, retirement, pension and ULIP like add-ons to customize.

(1) Edelweiss Tokio Life Protection Plans

These are the pure term plans with normal payment of premiums. These assure high sums to the beneficiary in case of death of the insured. There are several options to choose from and based on the option chosen, the payout to the beneficiary could be a one-time lump sum amount or in installments or a combination of both. The payout amount or sum assured also varies for different plans depending on entry and maturity age, term, premium amount, non-user of tobacco and so on.

One plan under this category is designed to cover people in rural areas and is micro term policy known as Raksha Kavach Plan. This provides competitive sum assured with a lower premium. The premium could be paid once or throughout the duration of the plan.

(2) Edelweiss Tokio Life Savings Plans

This is the additional payout plans on top of regular death benefit plans. These plans engage in investments in debt instruments and mutual funds bringing interest income and other financial benefits. Wealth Enhancement Plan and Wealth Accumulation Plan are the two categories under these plans which bring one-time lump sum, short term or long term payments to the beneficiary depending on the plan chosen.

(3) Edelweiss Tokio Life Retirement Plans

Under these plans, one can secure the financial benefits post retirement with fixed payments and cash protection. Based on the plan you can get annuity income, guaranteed money-back and probably an additional bonus income which serves great post retirement for a predetermined period (e.g., till you are 100 years old, or annuity for 20 years etc.)

(4) Edelweiss Tokio Life Child Plans

This plan offers financial assistance to the child of the deceased insured. The plan supports the continuity of education in the field of choice of the child in an attempt to secure the future. The benefits that are pre-defined, are paid up to a period of 5 years.

Important Points to Consider

However, while buying the policy, certain things need to be brought under consideration like:

• Decide the right coverage amount by considering the income, age, the family members and the liabilities that need to be covered in case of any eventuality

• Check the need of your family by considering the financial capability of family members to sustain the present lifestyle and the income support that they can get

Edelweiss Tokio Life Insurance has customizable Riders to offer that cover Additional Death Benefit, Critical Illness, Accidental Permanent and Total Disability. The specific exclusion from the policies is the death due to suicide that happens within first twelve months of the enrollment.

Edelweiss Tokio Life Insurance offers an array of products along with life insurance term benefits to the nominee. These benefits are for funding education, retirement, living with disability and impaired health, income replacement, wealth accumulation, wealth enhancement and so on.

So, based on the benefits of the offer and the PAN India presence of the company, Edelweiss Tokio Life Insurance is rapidly growing in its sector and becoming a major contender while it comes to choosing an insurer to cater the diverse requirements of customers in India.

Source:  EDELWEISS TOKIO LIFE INSURANCE EXPLAINS ALL YOU NEED TO KNOW ABOUT LIFE INSURANCE