The choice of the right guaranteed# life insurance policy would depend on individual needs and purposes. You must choose a guaranteed# life insurance based on coverage amount, premium costs, and policy term, together with additional benefits provided. Comparing available policies in the market is also a part of buying the best policy that fits your needs.
Usually, guaranteed# life insurance is not convertible to any other form of policy in India. However, it is worth calling to confirm in case of exceptions and, further, to find out specific conversion options or features that insurers provide.
Guaranteed# life insurance pays out a fixed amount at your death, which might be sufficient or not, depending on your needs. Determine how much coverage you may need by looking at outstanding debt, future expenses, and financial goals that the policy will cover.
There are other options besides guaranteed# life insurance. Other options would include traditional term life, which would probably yield better coverage at lower premiums if you qualify. If looking for market-linked investment growth, you may consider Unit Linked Insurance Plans***, provided it suits your risk appetite and financial goals.
Guaranteed# life insurance is usually more expensive, with lower underwritten life insurance coverage, compared to, say, term insurance. On the flip side, it is stable and predictable; therefore, a choice of it should be individual and purpose-oriented.
Buy ₹1 Crore Term Insurance at Just ₹576/month*
Exclusively For Salaried Individuals
4 Plan Options
Life Cover upto 70 years
Optional Accelerated Critical Illness benefit
Inbuilt Terminal Illness Benefit
Life Cover
₹1 crore
Premium:
₹576/month*
ABSLI Salaried Term Plan (UIN:109N141V03) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
*LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Annual Premium: ₹ 6100/- ( which is ₹ 508.33/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
#Provided all due premiums are paid.
$Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
***In the Unit Linked Policy, the investment risk in the investment portfolio is borne by the Policyholder.
Linked Life insurance products are different from the traditional life insurance products and are subject to the risk factors.
Linked Insurance Products do not offer any liquidity during the first five years of the contract.
The policyholder will not be able to withdraw/surrender the monies invested in Linked Insurance Products completely or partially till the end of the fifth year from inception.
Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The premium paid in unit linked life insurance policies are subject to investment risk associated with equity markets and the unit price of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. Tax benefits may be available as per prevailing tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale.
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