Death benefit or Life cover is by far the most important benefit of any life insurance or term insurance policy. This is the pre-determined payout that the insurer provides in order to provide the financial security of the life insured individual’s family if the unexpected happens. So, the life insurance death benefits serve as a central element of every life policy, ensuring families receive monetary support after losing their loved one. In this blog, we shall talk about life insurance death benefits.

In the view of life’s uncertainties, very few would say that life insurance is not an essential need in terms of the financial security it can provide to your loved ones, if you are no longer there. Given the importance of life insurance, it is definitely important to choose your insurance provider very wisely. While there are various factors such as claim settlement ratio, your prior experience with the insurers, etc. that can help make this choice, one relatively less considered factor is the solvency ratio of an insurance company.

In this blog, we discuss the definition of solvency ratio, the ideal solvency ratio and its role in life insurance.

An insurance policy is one of the most valuable instruments that allow us to enjoy such benefits. It is crucial to realize the importance of insurance and understand how they can positively impact our lives. Depending on your life stage and financial profile, the purpose of insurance may vary. You must understand the importance of insurance and its relevance to you in particular. Let us discuss the role and importance of insurance in detail to have a better understanding.

"Hello Mr. Varun, I am calling from the IRDAI. We have a new insurance plan for you. You will have to return your existing policy so that we can send you a new one with more benefits. Let me take you through the process." said the caller. Luckily Varun was aware that IRDAI doesn't sell insurance and never calls policyholders. He knew that IRDAI only regulates the insurance industry. He reported this call to the police. However, most policyholders are not aware of these things and fall into this trap. They either end up divulging critical financial information or get duped into buying an additional insurance policy.

Life insurance is the only financial tool that offers the triple advantage of risk coverage, long term savings, and tax benefit. It offers financial protection to an individual after taking into account the present and future value of his assets and liabilities. However, consumers need to develop a better understanding of the life insurance products that they buy.

There are a number of things that you must understand regarding your life insurance policy and this document is a guide to help you check the same.

In this blog, we have mentioned below the key parameters to weigh once you receive the policy document.