What Is Life Insurance?
Life insurance is a contract between a policyholder (Insured) and an insurance company (Insurer). Under this arrangement, the insurer agrees to compensate for the loss of life of the insured, to its beneficiary whose name has been mentioned in the contract, in return for payment of a specified premium by the insured to this company while he/she is alive.
Life
Insurance
Plans
Safeguard and Fulfil your future financial goals with the ideal type of life insurance plan.
Term life insurance plan
Whole life plan
Endowment plan
Child Plan
Money back plan
ULIPs
Pension Plan
Term plans are one of the simplest types of life insurance plans that provides high life cover at a relatively low premium rate. It allows you to safeguard your family’s financial interest in your absence at the most affordable rates.
Term Insurance
What Is A Term Life Insurance Plan?
Term insurance is a life insurance product/policy. It is devised to offer financial coverage for a specific (predetermined) period of years (i.e., a term) to the respective policyholder and their nominees in exchange for a specified premium amount.
- Term life insurance policy offers high life cover at a Lower Premium Amount
- The policyholder can pay the fixed premium amount either at once or at regular intervals for the entire Policy Term or for a limited period
Note: The payable premium amount tends to vary based on the type of payment method opted by the policyholder
Term life insurance plan aims to provide financial support/ benefits to the nominee in the event of the unfortunate demise of the policyholder during the policy term. A term life insurance plan allows you to ensure that your family and dependents are financially stable after you. In your absence, the guaranteed payout provided by the issuer will help secure your nominee’s (or family’s) lifestyle.
We are your teammate - for whatever lies ahead in life.
Swyom Capital’s life insurance plans are devised to aid insurers in eliminating financial risk and securing future dreams.
Life Cover + Benefit
=
One Term Life Insurance Plan
The Policy Covers Major Illnesses
Illnesses like cancer, brain tumour, blindness, and loss of limbs put you and your family through traumatic experiences. With Swyom Capital's Term Life Insurance, the policyholder is eligible for a payout if diagnosed with any critical illness.
Financial Security
Term life insurance provides a substantial amount to the family of the policyholder in the event of their untimely demise. The financial support helps secure your family's future as well as allow them to pay off liabilities in the future.
Save On Taxes
Term life insurance premiums are eligible for tax exemptions under section 80C, and death benefits are eligible under Section 10 (10D).
High Coverage
Term life insurance is critical for your personal financial portfolio. At a very affordable premium, the term insurance policy safeguards your dependents.
Term Coverage
Term life insurance provides long-term protection from 5 years and extends to 75 years. Opting for a term life insurance plan early (especially in your 20s and 30s) will allow the policyholder to leverage the lower premium and extended policy protection.
Disability Protection
Disability often leads to loss of income for an extended period. Under such circumstances, the term life insurance allows the policyholder's nominee to keep the policy in force by waiving off future premiums.
Security Against Accidental Death
Over the last few years, accidents have become one of the prevalent reasons for the loss of life. Term life insurance plans allow policyholders to financially safeguard their family and dependents in case of accidental death.
Premium Support
Our friendly customer support experts listen to your queries with undivided attention to resolve your concerns as swiftly as possible. Give us a call from our experts or drop us an email; we're always here to help.
FAQ’s
The rule of thumb: you must have life insurance coverage that is at least 10x the annual income amount. Apart from that, it is also important to consider the family aspect of the policy. The life insurance policy coverage should be sufficient enough to support your dependents financially after your unforeseen demise. While picking a life insurance product it is also important to ensure that the premium amount fits your regular expenses and overall financial portfolio.
One of the noteworthy benefits of a life insurance policy is that it safeguards your family members and dependents against the stress posed by the uncertain financial future in your absence. Life Insurance policy offers a lump sum stable fund to your dependents so that they can spend their life without any financial worries. Additive benefits such as maturity benefits and death benefits allow you to plan your financial future in a more systematic and structured manner. The death benefits help keep your family funds intact for future purposes such as college education or emergency hospitalization.
Life insurance is a critical form of financial security. If your loved ones depend on you for financial assistance and support then you should purchase a life insurance policy at an early age. Life insurance policy help ensures that the family’s expenses are met even when the breadwinner departs the world. A life insurance policy will help your family member cope with financial stress during traumatic times. Life insurance also helps clear the loan amount your family owe (if any), fund your child’s education, and arrange a marriage ceremony. If you have no dependents such as elderly parents, children, wives, or anyone else who financially rely on your shoulders, then life insurance might not be essential for your financial portfolio.
According to policy’s term and conditions, if a person (policyholder) commits suicide within 12 months, then their nominees won’t be provided with any insurance benefits by the insurance company. However, the respective insurance provider will pay back the premium amount submitted by the policyholder till date after deducting service, relevant processing fees, and administration charges to their nominees – family members and dependents.