LIFE INSURANCE

With life insurance, you make sure that your dependents get on with their lives in a financially secure way in spite of your premature death.

The life insurance policy pays out an amount that will give your family a better chance of continuing their lives in a safe and familiar environment.

Everyone who wants to protect his or her spouse, cohabitant or children can take out life insurance. You can take out the insurance alone or in combination with your pension scheme.

Who will get your money?

You alone decide who will benefit under your scheme. If you have chosen that the beneficiaries should be your nearest relatives, they will be (in order of priority):

your spouse, your civil partner or - subject to special requirements - your cohabitantyour children and grandchildrenthe beneficiaries you have named in your willbeneficiaries under the intestacy rules

Benefits and tax

Your survivors can choose to take the life insurance benefits as a lump-sum payment or as lower regular benefits. If the money is paid as a lump sum, it will be subject to 40% tax.

Regular payments, on the other hand, will be taxed as personal income for your survivors.

You can also choose to contribute taxed funds into your insurance plan, in which case the benefits will obviously be tax-exempt.

Children’s pension

With a children’s pension plan, you can protect your children financially if you die before they come of age. You can set up a children’s pension plan either personally or under an occupational scheme with your employer.

Everyone aged 18 and above is entitled to set up a children’s pension plan. If you die prematurely, your child will receive monthly benefits up to an agreed date of expiry or the date when the child attains the age of 24 years, whichever is earlier.

Follow us on

https://www.facebook.com/bajajallianzlifeinsuranceltd

http://plus.google.com/+bajajallianz/posts

https://www.linkedin.com/company/bajaj-allianz-life-insurance-co-ltd-

https://twitter.com/bajajallianzLIC

https://www.youtube.com/user/jiyobefi kar

https://instagram.com/bajajallianzlifeinsurance

Thank You…!

Visit us to know more on Life Insurance : https://www.bajajallianz.com/Corp/life-insurance/life-insurance.jsp