Understanding Life Insurance Basics

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Life Insurance Basics

• www.aegonreligare.com

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What is Life Insurance?
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• Life insurance is a backup of providing a
  financial support to your family even after you
  pass on.
• It is a way of proving that you have a sound
  financial structure.
• There are multiple life insurance plans available
  today.
• Opting for a good plan will protect you and your
  family from unexpected situations and also help
  you achieve your long term goals.

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Categories of Life Insurance
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• Life based insurance generally falls into two
  major categories
• Protection Plans Structured to provide benefits
  in the case of specified event. For example
  Term Insurance
• Investment Plans Structured to provide good
  benefit of capital by premiums(either regular or
  single premiums). For example Whole Life
  Policies.

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What is Life Insurance Premium?
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• Life insurance premium is an amount that you pay
  to the insurance company to purchase any policy.
• In return to this, the insurance company pays
  your nominee certain sum of money after you pass
  on.
• However, in situations of unfortunate accidents,
  if you become permanent disable, then the company
  does the payment to you, and usually they pay
  this in installments.

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How is Life Insurance Premium Calculated?
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• The factors considered for calculating life
  insurance premium are age, gender and health.
• Basically, a younger person has more age span so
  they have longer maturity and the premium is also
  cheaper.
• Medical history of the family also play very
  important role. Suppose the persons family
  members suffer diabetes, blood pressure or any
  other illness, then the concerned person is asked
  for medical checkup and is put under the category
  of high risk buyer. Later, the insurance company
  does a complete study on his health reports and
  plans with the team whether to insure the person
  or not.

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Life Insurance Tips
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Consult Your Friends

• Usually, many people believe in the power of
  insurance policies and definitely your many
  friends must have opted for some plan.
• Immediately consult your friends on this Ask
  them which insurance company is good to rely on,
  what are the multiple benefits that will help
  you, how long they have been associated with a
  particular policy and company, etc.

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Online Insurance

• Bang on! Online insurance is definitely the best
  track route about multiple insurance companies.
• You can find all the relevant information about
  any company, their plans, their branches, etc.
• You can compare their insurance plans, get free
  quotes, speak to their agent online.

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Take Good Care of Your Health!

• As mentioned earlier, medical records are very
  important while getting insured.
• The better you are in health, the cheaper your
  rates will be.
• So, quit smoking, tobacco chewing and get in
  shape.
• Monitor your eating habits daily. The more you
  are in shape, the more you will enjoy healthy
  lifestyle.

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Buy Your Life Insurance Early

• In the young age, we never get time to wonder or
  think about things like insurance.
• However, this is the best time to buy a life
  insurance policy for yourself.
• The younger you are, cheaper are your policies.

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Renew Your Coverage on Time

• If someone is already using a life insurance
  policy, then, make sure that you renew your
  coverage periodically.
• You never know when the circumstances and
  requirements of your life changes.

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Ask About Payment Discounts

• Instead of paying your insurance premiums
  monthly, check whether your company offers you
  discounts for paying them annually.
• Normally, many companies do and one should grab
  this opportunity.

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Know The Different Life Insurance Plans

• There are multiple life insurance plans available
  across multiple insurance companies.
• They offer term life, whole life or universal
  life.
• As part of your duty, it becomes important that
  you do proper inquiry on all the plans available.
• Basically, every plan is designed to cater
  multiple needs and requirements. So depending on
  your current need opt for the right plan.

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Contact Details
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• For more information on eligibility criteria and
  other health benefits
• Call 1800 209 9090
• SMS GUARANTEE to 56677
• www.aegonreligare.com
• Centers spread across 118 cities in India.

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Thank You