Life Insurance
2024-05-14 5 Min read
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When the responsibility of our loved ones falls on our shoulders, most of us have rather similar goals. Earning more money to keep our family happy and comfortable sums up most of our needs. While we work hard, cut back on expenses and try to save and invest as much as possible, what a lot of people often ignore is to safeguard this hard-earned money. Protecting your savings from life’s over-the-head shots is imperative if you wish to secure your family. Only through the right insurance choices can you defend your loved ones’ future, even if you are no longer around them.
Disclaimer
Star Union Dai-ichi Life Insurance Company Limited is the name of the Insurance Company and “SUD Life Protect Shield Plus” is the name of the plan. Neither the name of the Insurance Company nor the name of the plan in anyway indicates the quality of the plan, its future prospects or returns.
SUD Life Saral Jeevan Bima | UIN: 142N088V01 | A Non-Linked Non-Participating Pure Risk Premium Individual Life Insurance Plan Star Union Dai-ichi Life Insurance Company Limited |IRDAI Regn. No: 142 | CIN: U66010MH2007PLC174472
Registered Office: 11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai – 400 703 | Contact No: +91 22 7196 6200 | 1800 266 8833 (Toll Free) | Timing: 9:00 am – 7:00 pm (Mon – Sat)| Email ID: customercare@sudlife.in | Visit: www.sudlife.in | For more details on risk factors, terms and conditions, please refer to the sales brochure carefully, before concluding the sale. |Trade-logo displayed belongs to M/s Bank of India, M/s Union Bank of India and M/s Dai-ichi Life International Holdings LLC and are being used by Star Union Dai-ichi Life Insurance Co. Ltd. under license.
SUD Life Saral Jeevan Bima | UIN: 142N088V01 | A Non-Linked Non-Participating Pure Risk Premium Individual Life Insurance Plan Star Union Dai-ichi Life Insurance Company Limited |IRDAI Regn. No: 142 | CIN: U66010MH2007PLC174472
Registered Office: 11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai – 400 703 | Contact No: +91 22 7196 6200 | 1800 266 8833 (Toll Free) | Timing: 9:00 am – 7:00 pm (Mon – Sat)| Email ID: customercare@sudlife.in | Visit: www.sudlife.in | For more details on risk factors, terms and conditions, please refer to the sales brochure carefully, before concluding the sale. |Trade-logo displayed belongs to M/s Bank of India, M/s Union Bank of India and M/s Dai-ichi Life International Holdings LLC and are being used by Star Union Dai-ichi Life Insurance Co. Ltd. under license.
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IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Building Financial Safety Nets
With the uncertainties that hover over us, building a financial net becomes the need of the hour. Term insurance acts like a robust tool that helps your loved ones stay protected. Your policy offers you a predefined coverage, typically ranging from 10 to 40 years. In case you, the insured individual, pass away during this term, your life insurance company will pay the sum assured to your nominee. Term insurance is said to be the simplest and purest form of life insurance. Let us take a look at what makes term insurance so crucial for everyone.
1.Term insurance is the cheapest form of life insurance
Being a pure life insurance cover, term insurance plans are one of the most cost-effective insurance plans, as they typically do not offer savings or returns. Thus, with term plans, people can get a high sum of assured life cover at affordable premiums. There are various policies available, so a broader spectrum of people can invest in one that best suits their insurance needs and premium budget.
2.It offers financial security to your loved ones
One of the leading purposes of investing in a life insurance cover is to ensure financial security for your loved ones. In the absence of an earning member of the family, the financial expenses of the family members must not stop, and for this, investing in life insurance is a must.
3.Term plans are flexible
The flexibility of a term insurance plan like those offered by SUD is a great advantage. People can customize their life insurance plans as per their needs and affordability. The premium payment term options include one-time payment, limited payment, and regular payment. Also, you can choose a tenure that best suits your needs. Apart from these, depending on the plan chosen, the payout of the plan can be received as a one-time payout or as regular income.
4.They help you save on taxes
Tax benefits are always an added perk of a life insurance plan. U/S 80C of the Income Tax Act, 1961, you can get tax benefits of up to ₹1.5 lakhs per financial year. Also, the death benefit paid to the family remains tax-free under Section 10(10D) of the Income Tax Act of 1961.
5.It helps save your family from debt
The financial aid offered by a term insurance plan is a strong financial cover for your family. In case you have an active debt, your absence will make your family struggle with loan repayment terms. A life insurance cover benefit can be used to repay debts and any other financial commitments of life.
6.It offers you peace of mind
Last but not least, term insurance gives you peace of mind. Stressing over the future financial needs of your family, especially in your absence, is what a term plan can solve. Cover the uncertainties of life with your preferred term plan today!
1.Term insurance is the cheapest form of life insurance
Being a pure life insurance cover, term insurance plans are one of the most cost-effective insurance plans, as they typically do not offer savings or returns. Thus, with term plans, people can get a high sum of assured life cover at affordable premiums. There are various policies available, so a broader spectrum of people can invest in one that best suits their insurance needs and premium budget.
2.It offers financial security to your loved ones
One of the leading purposes of investing in a life insurance cover is to ensure financial security for your loved ones. In the absence of an earning member of the family, the financial expenses of the family members must not stop, and for this, investing in life insurance is a must.
3.Term plans are flexible
The flexibility of a term insurance plan like those offered by SUD is a great advantage. People can customize their life insurance plans as per their needs and affordability. The premium payment term options include one-time payment, limited payment, and regular payment. Also, you can choose a tenure that best suits your needs. Apart from these, depending on the plan chosen, the payout of the plan can be received as a one-time payout or as regular income.
4.They help you save on taxes
Tax benefits are always an added perk of a life insurance plan. U/S 80C of the Income Tax Act, 1961, you can get tax benefits of up to ₹1.5 lakhs per financial year. Also, the death benefit paid to the family remains tax-free under Section 10(10D) of the Income Tax Act of 1961.
5.It helps save your family from debt
The financial aid offered by a term insurance plan is a strong financial cover for your family. In case you have an active debt, your absence will make your family struggle with loan repayment terms. A life insurance cover benefit can be used to repay debts and any other financial commitments of life.
6.It offers you peace of mind
Last but not least, term insurance gives you peace of mind. Stressing over the future financial needs of your family, especially in your absence, is what a term plan can solve. Cover the uncertainties of life with your preferred term plan today!
The Standardized Approach to Term Insurance
Life insurance is for everyone. Every adult who has a family needs to protect their loved ones from the risks of longevity, mortality and morbidity. Term insurance plans allow your family financial support in case something happens to you. A standardized term insurance plan, such as the Saral Jeevan Bima Policy, makes it easy for everyone to have life coverage.
1.Men and women both should have the protection of a term insurance plan. The misconception that only men need coverage needs to go away. Women are today equally responsible and concerned about their family’s future and financial well-being, so investing in an affordable term insurance plan is equally important for them.
2.Whether rich or poor, everyone should get term insurance to secure their loved ones financially. Saral Jeevan Bima Policy allows coverage from INR 5 lakhs to INR 25 lakhs, making it an affordable plan for people from varied income brackets. The sum assured that your family will receive will help them fulfill their goals.
1.Men and women both should have the protection of a term insurance plan. The misconception that only men need coverage needs to go away. Women are today equally responsible and concerned about their family’s future and financial well-being, so investing in an affordable term insurance plan is equally important for them.
2.Whether rich or poor, everyone should get term insurance to secure their loved ones financially. Saral Jeevan Bima Policy allows coverage from INR 5 lakhs to INR 25 lakhs, making it an affordable plan for people from varied income brackets. The sum assured that your family will receive will help them fulfill their goals.
Conclusion
The increasing urbanization has brought a major shift in India’s family system. Earlier, in a joint family, there were a number of members who supported each other through thick and thin. The growing trend of the nuclear family has made people more vulnerable to emotional and financial risks. Being prepared at all times is important for nuclear families as they mostly deal with financial emergencies on their own.
SUD Life Saral Jeevan Bima offers a lump sum payout to your family in case something tragic happens to you. This standard life insurance policy makes life insurance very simple and easy to understand. If you haven’t already, make sure to safeguard your loved ones with the right coverage today.
SUD Life Saral Jeevan Bima offers a lump sum payout to your family in case something tragic happens to you. This standard life insurance policy makes life insurance very simple and easy to understand. If you haven’t already, make sure to safeguard your loved ones with the right coverage today.
