Crucial Life Milestones for Reconsidering Life Insurance Cover

Important Life Stages to Reconsider Your Life Insurance Cover

Frequently Asked Questions

What do you mean by reviewing a life insurance policy?

Reviewing a life insurance policy means ensuring you have the right insurance policy and adequate coverage to safeguard your family’s financial future in your absence.

What are the components of a life insurance policy?

Any life insurance policy has two major components, premiums and death benefits. Premiums are the amount of money that the policyholder has to pay for a policy. While death benefit refers to the coverage amount that the family gets from the insurer in case of the insured’s death during the policy term.

Is Life Insurance policy maturity amount taxable?

No. The total sum you receive as the maturity benefits from a life insurance policy is tax free under Section 10(10D) of the Income Tax Act of 1961..