Life insurance is important in all ways. It protects your family in their time of need. Individual life insurance helps you when you retire or you are no longer insured by your employer. We have listed down some of the individual State life insurance plans. We hope that this will help you out in selecting your policy.
1) Whole Life Assurance
Whole life assurance is a combination of protection and savings at a very economical premium. If someone dies before the age of 85, this policy terminates the payment of premiums and the sum insured becomes payable. Moreover, bonuses also become payable.
Furthermore, the policy becomes mature in the case of survival of the policyholder till the age of 85 years and the person gets the sum insured plus bonuses as well. In this policy, the rates of bonuses are much higher than the other plans. You can get further details on the website of State Life Insurance.
2) Endowment Assurance
The surest and safest method of guaranteed cash provision is endowment assurance. By using this policy, you can get the sum insured and bonuses at the end of a specified number of years or the death of the life insured if earlier. Furthermore, premiums are payable for the specified number of years or till death. This policy serves the family of a policyholder in various ways.
3) Sadabahar Plan
Sadabahar policy also offers certain benefits at different stages during the premium-paying term or on earlier death. Moreover, this policy has a built-in Accidental Death Benefit (ADB). You can use this policy in your time of need.
4) Anticipated Endowment Assurance
A modified form of endowment assurance is called Anticipated Endowment Assurance. This policy is also named “Three Payment Plan”. This policy fulfills both the long-term and short-term financial needs of the policyholder. You can get further details by visiting the website of State Life Insurance.
5) Shad Abad Assurance
Another policy introduced by State Life Insurance is Shad Abad Assurance.
Under this policy, the sum insured plus bonuses are payable on completion of the term of the policy.
However, the death benefit consists of the double sum insured including bonuses.
Please visit the website of the State Life Insurance to get more detail.
6) Jeevan Saathi Assurance
As its name suggests, Jeevan Saathi Assurance covers the lives of two partners. This is a joint life plan in which premiums are payable till the end of the specified term. Under this policy, you can get extensive benefits. Get further details on the website of the State Life Insurance.
7) Child Education And Marriage Plan
Parents usually seem worried about the future of their children. Child Education and Marriage Plan has been introduced by the State Life Insurance just for them
Through this policy, parents get lump sum benefits when the child attains a predetermined age of 18, 21, or 25 years. Parents can select a specific age considering their financial needs such as for higher education, marriage, or setting up businesses. For further assistance, check out the website of State Life Insurance.
8) Child Protection Assurance
Child Protection Assurance is a joint life insurance plan. This plan covers the lives of the child and either of the parents.
Sum insured and accrued bonuses become payable when both the policyholder and the child survive the full term of the policy.
If the policyholder dies before the completion of the term of the policy, then the child gets the payment of premiums per annum. Get more details on the website of the State Life Insurance.
9) Sunheri Policy
If you are looking for an innovative life insurance plan, so Sunehri policy is your best choice. This plan is flexible and secure. Moreover, this policy meets the challenges of inflation in a better way.
This policy has a special feature under which the premium increases by 6% per annum without providing any evidence of instability. Furthermore, the Sunehri policy has the death benefit as well.
This policy is best for individuals who have started their careers.
10) Shehnai Policy
Shehnai policy is also for parents who are concerned about higher education, marriage, and other expenses of their children. Under this policy, the lump sum benefit becomes payable when the child attains the age of 25 years.
11) Nigehban Plan
The Nigehban policy is an innovative plan that offers insurance coverage for a period of 5 to 10 years. However, survival benefits, surrender values, maturity benefits, loan values, etc don’t cover under this policy. The sum insured is payable after the death of the policyholder.
12) Muhafiz Plus Assurance
Under Muhafiz Plus Assurance, the policyholder gets a substantial sum of the amount on maturity. Moreover, the policyholder also gets sum insurance bonuses.
However, In case of the death of the policyholder, the dependants get the basic sum insured plus bonuses immediately.
You can install the SLIC application for more details at your mobile phone.