Your Options When Seeking Life Insurance For People Over 65

By: Manish Kapil
Life insurance called as life assurance. In this there is a bond between policy holder and insurance company. There are different plans according to age like for children's, money back policy for different ages. The minimum age of plan is 18 years and the maximum age is 60 years.
There are different life insurance premiums like monthly, yearly as well as quarterly according to the convince of the policy holder. The premiums qualify for the section 88 of the income tax act and the returns are fully exempted under Sec 10D.

It has two major categories:
Protection life insurance
Investment plans

In protection plans the customer gives a total amount (lump some). They are designed to provide benefit. The second one is the investment in which is to make possible growth of capital.

There are different key factor to be make careful of insurance plans.
1. Protection or death benefit(Face amount)
2. The premiums which the policy holder deposits
3. Term of the insurance plan.

The face amount which the insurance company sets the protection of policy holder is constant & is for a particular year or years. The premiums are almost same or may increase. There are different terms of your health. It may be 5, 10, 15,20,25,30 as well as 35 years.
There are four types covered for protecting your health like protection plans, premium plans, and individual as well as wealth creation policies.
The protection plans are those plans which are decided to make protection of your family. The main objective of this protection plans is to provide protection to their family instead of single protection. The premium plans are quite traditional and the policy holder will get the money back policies after a stimulated period of time. The individual plans are basically short term plans or long tern plans. The long term plans are those in which the policy holder gets the assured returns after your plan is completed. Long term policies are for 10, 15, 20 years etc according to the needs of the policy holder. The second type are short plans for short duration like 1, 2 years. Last type is the wealth insurance plan. In this plan the plans which flow your money which the consumer and secondly they make lot of payments.

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