Flipkart, an e-commerce market and Aegon Life Insurance coverage have tied-up to supply life insurance coverage insurance policies to those that are between age 18 and 65. The coverage might be a time period insurance coverage plan for a one-year interval whereby solely the demise profit is paid to the nominee if the demise occurs through the interval of insurance coverage. To purchase the coverage, one must register on the Flipkart platform and pay the one-time premium after assembly the phrases and situations.
The moment life insurance coverage cowl might be out there as a Group insurance coverage cowl and might be issued with none medical checks or paperwork. Nonetheless, you will need to undergo the phrases and situations and declare appropriately about present well being situations and ailments.
As per the web site, one can get life insurance coverage for a sum assured of Rs 1 lakh, Rs 5 lakh, Rs 10 lakh, Rs 25 lakh, Rs 40 lakh by paying a one-time premium of Rs 129, Rs 644, Rs 1288, Rs 3220, Rs 5152 respectively. Additionally, it states that one can get Part 80C tax profit on the premium paid.
If one buys the coverage, the coverage doc or the certificates of insurance coverage is obtained within the electronic mail. Make sure that, your nominees are well-recorded and are knowledgeable concerning the coverage.
Anybody with monetary dependants wants to purchase life insurance coverage. A time period insurance coverage plan is a low-cost, high-cover plan because it solely covers demise. There isn’t any maturity worth within the coverage. As a thumb rule, one ought to have a canopy of a minimum of ten instances of 1’s annual take-home revenue. The protection ought to sometimes be for a interval until one has legal responsibility and there are relations who’re financially dependant on you. Typically, maintaining a protection until age 60 helps as by that point one is free from monetary liabilities.