PCS Insurance | Life Insurance

Sum assured is payable only in the event of death during the term
In case of survival, the contract comes to an end at the end of term
Term Life Insurance can be for a period as long as 40 years and as short as 1 year
No refund of premium
Non-participating policies
Low premium as only death risk is covered

Whole life plans are another type of endowment plan, which cover death for an indefinite period
When the policy holder dies, the face value of the policy, known as a death benefit, is paid to the person or persons named in the life insurance policy
It can be with or without profits
If you cancel the policy after a certain amount of time has passed, the insurance company will surrender the cash value to you

It has emerged as one of the fastest growing insurance products
It is a combination of an investment fund
The premium amount is invested in the stock market
Better for long-term investment options
ULIPs generally provide higher returns as a large portion of the funds are invested in equities
There is also flexibility and the assured can choose levels and extent of cover needed
There is also option of switching over from one fund to another if it does not seem to be profitable

Policy Claim

Life insurance claim can arise either

On the Maturity of the Policy

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

Lorem Ipsum is simply dummy text