Posted: Mar 06, 2020
Sabse Pehle Life Insurance (Meaning Life Insurance First) is the first joint mass media drive of the life insurance industry aimed at increasing awareness in the country bout life insurance. The objective is to, further its penetration as well as motivate the general public to buy Life Insurance products that are best suited for them.This campaign has been launched in all major Indian languages like Hindi, Bangla, Kannada, Telugu, Malayalam, and Tamil. It will use conventional as well as digital platforms such as TV and social media to amplify its outreach. An eye-grabbing TV Ad is also being aired on various channels for this purpose.Why we need this kind of campaign?
To know about the need for a campaign like this, we need to have a look at some of the figures as per the Annual Report of IRDAI (2017-18):
The insurance penetration (percentage of insurance premium to GDP) in India is a mere 3.70 percent (2018). Though a decade earlier, we had a much better
penetration of 5.20% (2009).The insurance density in India (ratio of premium to population) has also stagnated from 2017 at 55 USD.
India's share in the global insurance market is also only 1.92 percent, though we are witnessing an increase.The unsatisfactory state of insurance penetration
is indicative of how the general public is still unaware of its innumerable advantages. Also, people are still not willing to invest with a view of securing their
future. Even those who do, do it for saving taxes. In such a scenario, launching a full-fledged campaign is indispensable.Association of Mutual Funds in India
(AMFI) has already set a precedent by launching an investor awareness campaign called Mutual funds Sahi Hai (mutual funds are the right choice), which was immensely
successful and lead to an increase in mutual fund investors by 3.2 million.Importance of Life Insurance
The value of life is best realised when we imagine the future of our loved ones without us. All of us have had this dread of leaving the people who we always
protected and cared for, alone in this rather cruel world. But no matter how much endearing is the idea of spending our lives with our loved ones,
we can never know when life takes an ugly turn. Life isn't assured, but it can definitely be insured.Benefits and Features of Life Insurance
Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.
Among other things, the contract also provides for the payment of premium periodically to the Corporation by the policyholder.
Benefits of Life insurance
Security: Life insurance secures the lives of the dependants of the breadwinner of a household. It allows the person taking the insurance to choose his/her nominees,
ensuring that the needy get the money, even after the death of the policyholder.
Protection: Life insurance guarantees a certain amount to be paid at the untimely demise of the insured, irrespective of the amount saved so far. This investment
is unlike other saving schemes where you only deposit the amount and get suitable interest on it.
No-Risk: Life insurance doesn’t have market risks as opposed to other investment plans. Also, all the terms and conditions of the policy are clear to the buyer at
the time of taking the insurance. This transparency minimises the risk of frauds or forgery.
Planning Goals: Life insurance helps you to plan your future goals like higher education, loans, marriage, debt etc. and makes you financially sound to achieve them.
There are also policies, which come with retirement plans and purchase of a house.
Low Premium: Life insurance secures yours and your loved ones’ future without having you compromise on your present. The amount of premium may be as small as Rs. 100
and thus, doesn’t burn a hole in your pocket.
Tax reliefs: The amount paid in premiums is exempted from income tax and wealth tax as it is eligible for tax deduction under Section 80C up to a limit of Rs.1.5 lakh. Assessees can also avail of provisions in the law for tax relief. In such cases the assured in effect pays a lower premium for insurance than otherwise.
Loans: Life insurance is acceptable as security for most of the loans, including commercial ones.
How to Select Life Insurance
How to select life insurance using cover360.in?
It’s just a click away. Visit our website’s Term insurance section and fill in few details regarding your age, income, cover needed and whoa! You get a list of insurance policy from an array of insurers. Not just this, you can customise your coverage, period, Pay-type, Payout, and pay frequency as per your needs.You can compare, analyse and buy a policy here and then, hassle-free! Still confused, you can call us on 97167-20000 or even contact us using WhatsApp!Our executives will help you choose your life insurance plan!
You can also check out our blog section to get a more nuanced view of insurance plans available and the ones you should go for.
The details we ask for are necessary:
Your name and gender: Of course!
Your contact: So that we can reach out to you!
Your Age: The age at which you're taking a policy is the critical factor determining your premium. The earlier you buy, the lower the premium.
Whether you smoke: Smoking is considered to be very risky, and the policy premiums for smokers are higher than non-smokers.
The coverage you want: This is the amount you wish to receive in case of any eventuality. You can edit this later while checking out the list of plans.
Your annual income: So that we can hand-pick the best options for you
A health insurance plan is an important part of your financial planning for a safe, secure and healthy life for you and your family.