Two good reasons why you should consider making life insurance a part of your financial plan:
To help provide financial protection for your loved ones in the event that something should happen to you.
To start building a strong and diversified financial plan.
For more information about how life insurance might fit into your financial planning, look through our products section.
What is life insurance?
A life insurance policy is a contract you establish with an insurance company that provides for a specific payment to be made to a designated beneficiary in the event of your death. Policies have specific limitations and terms that will be made clear at the time of your application.
What is a beneficiary?
Beneficiary refers to the person(s) you name as the recipient(s) of any benefits paid through your life insurance policy.
What can life insurance do for me and my family?
People commonly purchase life insurance coverage for a number of purposes, including:
Paying off loans, or credit card debt(s)
Replacing your contribution to household expenses
Setting up investment or retirement funds
Covering college and other educational costs
Paying for your final expenses
Providing a nest egg for family emergencies
For more information about how life insurance might fit into your financial planning, look through our products section.
I've never had life insurance before. Which kind should I apply for?
That depends upon your specific situation.
If you're a young adult on a limited budget, HDFCSLIC our Term plan might be right for you - it provides high coverage amounts at affordable rates, with options for "locking in" your premium costs for as long as 37 years.
To learn more about choosing life insurance options, check out our Products section.
How much coverage do I need?
The answer to this question depends upon your personal needs and preferences. To do a general calculation of how much coverage your family needs, go to choose a product. You can also learn more at our Life Stages section.
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