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LIFE INSURANCE

Life Insurance — Protection Plus Wealth Creation

Life insurance plans that combine protection with savings. Endowment, ULIP, and money-back policies offering maturity benefits, bonuses, and tax-efficient wealth creation.

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What is Life Insurance?

Life insurance encompasses a range of products that provide both life protection and savings/investment components. Unlike pure term insurance, traditional life insurance plans like endowment policies, ULIPs, and money-back plans offer maturity benefits — meaning you receive a payout even if you survive the policy term.

These plans serve dual purposes: securing your familys financial future while also helping you build wealth for goals like retirement, childrens education, or homeownership. FMC Insurance Bazaar helps you navigate the various options to find the right balance of protection and returns.

Why Buy Life Insurance?

  • Dual Benefit — Life protection plus savings/investment in a single product
  • Maturity Returns — Receive money even if you survive the policy term
  • Guaranteed Bonuses — Traditional plans offer declared bonuses that grow your corpus
  • Goal-Based Planning — Plan for retirement, education, marriage, or home purchase
  • Tax Efficiency — Premium deductible u/s 80C, maturity tax-free u/s 10(10D)
  • Loan Facility — Borrow against your policy after earning surrender value

Key Benefits

Savings Component

Build wealth over time through guaranteed additions, bonuses, and returns.

Life Protection

Provide financial security for your family with death benefit coverage.

Goal Planning

Plan for specific goals like education, marriage, or retirement.

Tax Benefits

Premium u/s 80C and maturity benefit u/s 10(10D) — tax-efficient savings.

Market-Linked Returns

ULIP plans offer market-linked returns with fund switching options.

Loan Against Policy

Borrow up to 80-90% of surrender value as a loan against your policy.

Types of Plans Available

Endowment Plan

Guaranteed returns with bonuses. Sum assured + bonuses paid at maturity. Lowest risk, moderate returns.

MOST POPULAR

ULIP Plan

Market-linked returns with insurance cover. Choose equity/debt funds. Higher potential returns.

Money-Back Plan

Periodic payouts at regular intervals (every 5 years). Ideal for planned expenses and liquidity needs.

Claim Process

1

For death claim: Nominee intimates insurer with policy details

2

Submit death certificate, policy bond, nominee ID, and claim form

3

For maturity: Insurer contacts you before maturity date with payout details

4

For survival benefit: Periodic payouts credited automatically to registered account

5

Claim processed within 30 days — nominee receives sum assured + bonuses

Documents Required

  • Identity proof (Aadhaar, PAN)
  • Address proof
  • Income proof (for higher sum assured)
  • Age proof (birth certificate, passport)
  • Medical test reports (if required)
  • Photographs

Frequently Asked Questions

Term insurance is pure protection with no maturity benefit — cheapest option for highest cover. Life insurance (endowment, ULIP, money-back) combines protection with savings, offering maturity payouts but at higher premiums for lower cover amounts.
Endowment suits conservative investors wanting guaranteed returns. ULIPs suit those comfortable with market risk seeking potentially higher returns. Your risk appetite, investment horizon, and financial goals should guide the choice.
Yes, maturity proceeds are tax-free under Section 10(10D) if the premium does not exceed 10% of sum assured (for policies issued after April 2012). Premiums are deductible under Section 80C up to ₹1.5 lakh.
Surrender value is the amount you receive if you terminate the policy before maturity. It builds after 3 years of premium payment and includes guaranteed surrender value plus bonus surrender value.
Yes, after the policy acquires surrender value (typically after 3 years), you can take a loan up to 80-90% of the surrender value at interest rates of 9-12% from the insurer.
Consider your financial responsibilities: outstanding loans, family living expenses for 15-20 years, childrens education and marriage costs, and retirement planning. For pure protection, buy term insurance; for savings, add endowment/ULIP.
IRDAI mandates a 15-day free-look period (30 days for online policies) during which you can review and cancel the policy for a full refund if not satisfied. Only stamp duty and medical test charges may be deducted.
Yes, you can buy multiple policies from different insurers. The total sum assured should be justified by your income — typically 15-20 times annual income. Multiple policies simplify claims for different nominees.

Explore More Insurance Products

Term Insurance
Critical Illness Insurance
Health Insurance
Family Floater Insurance

Get Life Insurance Quote

Compare endowment, ULIP, and money-back plans from top life insurers. Find the right balance of protection and returns.

  • Compare endowment, ULIP & money-back
  • Tax benefits under Section 80C
  • Maturity benefits + bonuses
  • Expert guidance on plan selection

Get Life Insurance Quote

Plan Your Financial Future

Our insurance experts are available to help you choose the right plan. Get a free callback now.

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