Life Insurance

What is Life Insurance 

Life Insurance can be described as an agreement between the insurance owner and the insurance company, where the insurance company promises to pay the money in exchange for the premium after the death of an insurance person or after the stipulated period. Here you pay prices for a certain period of time in ICICI Productive Life Insurance, and in return we give you a cover of life. This coverage of life takes care of your loved one by paying a fixed amount in the event of an unfortunate event. In some policy measures you find an amount mentioned at the end of the policy period.

There are two basic types of life insurance.

1. Pure protection
2. Protection and savings

What is a pure protection plan?
Fully protection plan is designed to secure your family’s future by giving a fixed amount in your absence.

What is a safety and savings plan?
The safety and savings plan is a financial tool that helps you plan your long -term goals, such as buying houses, training your children and more, while offering the benefits of life cover.

Let’s understand the terms that are commonly used in life insurance:
Life -Prof: This is the person who comes under insurance policy
Proposal: This is the person who pays policy prices. For example: If you have purchased a policy for yourself, you are both safe lives and suggestions. Similarly, if you buy an insurance policy for a family member, you are proposed and the family is a safe life.
Appointed or received: This is the person you are currently appointed to buy a policy to achieve the benefits of your insurance policy in the event of your absence.
Insurance Company: Insurance company that sells a life insurance policy is called insurance company (for example ICICI Predel Life Insurance).
Life Cover: This is the amount that the insurance company pays to your nominees in the event of an unfortunate incident.
Development for youth: Protection + savings policies, the insurance company pays a specific amount after the completion of the polyspermy. This amount is known as maturity amount.
Premium: A premium is the amount you pay to the insurance company to get the benefits of insurance policy. This payment can be made regularly during the political period, for limited years or only once, according to the available options you choose.
Price Payment Payment: The number of years of paying your price is known as the premium payment period.
Policy period: The number of years of lifetime.

Let’s understand how the Life Insurance Policy works:

In today’s era, it is imperative for everyone to have an insurance policy, as it is a great way to secure one’s future with their loved ones. There are many life insurance policies available in the market. However, before you choose someone, it is important to understand how a life insurance policy works. Let’s see an example to understand how the Life Insurance Policy works:

See an example now:

Mr. Kumar (Secure Life) pays the annual amount (Premium) to ICICI Production Life Staffing (Insurance Company) for 5 years (premium payment period) to ensure that his wife (designated ) Receives a certain safe amount (for a lifetime) in the event. At the end of the policy period, the amount of an unfortunate incident or a lump of an unfortunate incident over the end of the policy period.

Life insurance not only covers the risk that results in an unfortunate event, but also provides you with additional benefits such as tax benefits, savings and wealth creation during a certain period. The right life insurance plan of a trusted company can help anyone get savings in addition to long -term risk coverage. Two benefits of a solution.

1. Is it able to buy life insurance?

Yes, life insurance is a purchase. With finances, the benefits of attractive purchase of life insurance policies feel attractive. In the case of departure of revenue acquisition, life -related insurance policy will be a financial safety network that your loved ones pay expenses such as debt, childhood aid, education, health and many other daily accounts Will provide help. Life insurance is an economic way to save people economically.
You. How do you request a life -related insurance policy after death?
This is an easy process. You can report your needs online, through our branches, Central Office, SMS, and -through -through our call centers on or on our comfort. Physical documents should be sent to a nearby branch to start the process. The desired documents are:
Complaint description format – download

For a borrowing group

Commitment / CEO -Employee -Pission -Grapest -for the Declaration of Sabunt / For the Wanted Requirements.
The original political document
Copy of Death Certificate published by the local Municipal Authority
The applicant’s photography identification certificate and a copy of the existing address secure
Cancel of control/ copy of the bank passbowic
Copy of Certificate of Medical Legal Certificate
Mediki articles (admission notes, dismissal/ death review, intercontinental affairs, test relationships etc.)
Medical items before insured/ life -related medical items
Medical/ Hospital Certificate issued by a doctor – Download module
Employer certificate (for paid people) – download module
In addition, under the documents required for unintentional/ suicide death
Post -mortem -operating and Chemical Viserial Report
Copy of a driving license if the time of the accident at the time of the accident has led the vehicle (if it is applied to “Rider of accidents and disability”)

Our department/complaint team then evaluates the requirements and information in which more documents are sent. When the complaint is scared and the Life Insurance Company receives all relevant approval and therefore performs all the correct requirements through the check system or compensation electronics (ECS).

3. How many recipients of life can make insurance policy?

There is no limit to the number of recipients that you can include in your policy. But if the insurer is the will of the person and he indicates who should go when the amount of insurance benefits should go when he leaves, then the benefit is in the aforementioned will, regardless of, regardless of. The above appointed.
a. How long does it take to get the amount of life insurance after death?
Through the claim we are guaranteed to meet death needs within a day*and we make sure that when you need more, your family will financially support. If the delay is delayed in addition to the work day, your prescribed interest* is paid on the amount of complaint for the delay every day
To use the caller,
Politics should be active in 3 years
All Mandatory Documents of Complaint* should be presented before the Branch before 19:00 15 in the Working Day
The total amount requested for all policy should be less than £ 1.5 crore or equal
Requirements should be a matter of non -investive
Otherwise, all other statements, our average rotation time is 2.34 days ** for the solution of the need for 18-19 exercise, which is arranged by 79 % of the requirements within 3 days.

Leave a Comment