A professional who provides specialized guidance and advice for investment in various insurance schemes is an insurance advisor or insurance consultant
What is Life Insurance? Life Insurance is a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a policy premium, upon the death of an insured person or after a set period. You pay premiums for a specific term and in return, insurance companies provide you with a Life Cover. This Life Cover secures your families future by paying a lump sum amount in case of an unfortunate event. In some policies, you are paid an amount called Maturity Benefit at the end of the policy term.
A pension plan is a fund that you build throughout your life to ensure a permanent source of income after your retirement. It is an investment that grows through regular contributions. So, when you plan for your retirement at an early stage in life by purchasing the best pension plan in India, it helps secure a sizable fund.In general, there are different ways in which pension plans function. For example, an individual's pension fund may be created by sharing the contributions between their employer and themselves. In this case, the employer is usually responsible for the larger percentage of it.
A ULIP is an insurance plan that offers the dual benefit of investment to fulfil your long-term goals, and a life cover to financially protect your family in case of an unfortunate event. The premium paid towards a ULIP is divided into two parts
Read MoreKeyman insurance is defined as an insurance policy where the proposer as well as the premium payer is the employer, the life to be insured is that of the employee and the benefit, in case of a claim, goes to the employer
In case of death of the employee, the company receives the sum assured to cope with the loss and also ensures business continuity without any hiccups.The policy contributes to the company’s tax planning* - Premium allowed as business expense under section 37(1) of Income Tax Act, 1961, subject to satisfaction of the assessing officer...
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Group term life insurance is a type of term insurance in which one contract is issued to cover multiple people. The most common group is a company, where the contract is issued to the employer who then offers coverage as a benefit to employees. Many employers provide, at no cost, a base amount of group coverage as well as the ability to purchase supplemental coverage and coverage for employees' spouses and children.
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