Why to have a Life insurance in Edmonton - PowerPoint PPT Presentation

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Why to have a Life insurance in Edmonton

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everyone want that is secure his family life. Life insurance is part of insurance. In which you have to pay some amount as a premium for insurance companies and insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured. – PowerPoint PPT presentation

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Title: Why to have a Life insurance in Edmonton


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  • Presented By -

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What is life insurance
Life Insurance can be termed as an agreement
between the policy owner and also the insurance
firm, wherever the insurance firm for a
consideration agrees to pay a sum amount of cash
upon the occurrence of the insured individuals or
individuals death or different event, like
terminal illness, essential health problem or
maturity of the policy.
3
Type of life insurance
Term Life insurance plan
Term Insurance may be a life insurance plan that
gives financial support to the beneficiary of the
insured policyholder for an outlined amount of
your time. within the event of death of term
insurance policyholder during policy term, the
beneficiary will claim death advantages from the
insurance firm.
Permanent / Whole Life insurance Plan
  • Permanent / Whole life insurance is another type
    of endowment plan, In which plan the policyholder
    have to pay a premium throughout his life.
  • There are two type of whole / permanent life
    insurance plan.
  • Ordinary whole life insurance plan.
  • limited payment whole life insurance plan.

Endowment Insurance plan
Life Insurance endowment plan, that is also known
as life insurance, upon completion of insurance
term, the policy pays the total add insured to
the holder, if the customer dies throughout the
term of the policy, then the beneficiaries are
going to be given full add assured Pays.
4
Why to have Life Insurance
  • Protection
  • Liquidity
  • Tax Relief
  • Money when you need it

5
Benefits of life insurance
  • Peace of Mind.
  • Tex Benefits.
  • Financial support to insured family.
  • Create a source of Saving.
  • Children's Life Insurance.
  • Money Back Policies.
  • No mark fluctuations in value.
  • No security expenses.
  • increase in value.
  • Policy surrenders possible in case of default.
  • Policy assignments title easily obtainable.

6
How to Claim Life Insurance
Maturity Claim
  • In case of Endowment type of Policies, amount is
    payable at the end of the policy period.
  • Discharge Form Policy Document.
  • On receipt of these two documents post dated
    cheque is sent by post so as to reach the
    policyholder before the due date.
  • The gross amount consists of Basic sum assured
    and bonus if any

Survival Benefits
  • Same as maturity claims, sum assured becomes
    payable on expiry of full term but on survival of
    the insured.
  • In policies like, money back plan for 15 years
    term, 1/4th of the sum assured becomes payable on
    the life assured on surviving 5 year, further
    1/4th becomes payable after additional 5 years
    and rest balance at the end of 15 years

7
Death Claim
  • There are two Types
  • Premature death claim within 3 years
  • Other claim after 3 years
  • Intimation of death is to be given by a proper
    person in writing.
  • Original Policy Bond
  • Death Certificate
  • Proof of relationship with the deceased person In
    case of Accidental Death
  • Post-mortern Report,  FIR Copy , Final Police
    Report is also required

https//www.insurancealliance.ca/
1 (780) 490 - 0053
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