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Knowledge Base Life Insurance
Life Insurance
Life Insurance

Life insurance is a contract between the policy owner and the insurer, where the insurer agrees to reimburse the occurrence of the insured individual's death or other event such as terminal illness or critical illness. The insured agrees to pay the cost in terms of insurance premium for the service. Specific exclusions are often written in the contract to limit the liability of the insurer, for example claims related to suicide, fraud, war, riot and civil commotion is not covered.

This New Year, IRDA has amended regulations for the Life insurance policies. Making life insurance more transparent and consumer friendly, IRDA has stated a set of rules to equalize all non-linked and market-linked plans. Here is a brief of what’s changing to help you understand the procedure in a better…
Life Insurance – Riders and Benefits There are many nooks and corners on the road to understanding life insurance. It is an intricate financial product and the bitter fact is that a basic plan is just not enough to cover these intricacies. That’s where riders and benefits take the stage.…
Term Return of Premium - A Cleverer Look Term Return of Premium (TROP) is a variant of the term insurance plan. It is similar to a pure term plan in most of the features. The only difference being that unlike a pure term plan, a TROP involves refunding the sum…