Salary Protection Insurance.. Opting for this insurance plan will cover the entire monthly salary to the family even after your death.
This salary protection insurance is also known as income protection insurance. Through this insurance plan, the employees will receive a monthly salary amount for the chosen years for the death of the employees.
Those who want to take this insurance plan should keep a few things in mind. It is only a term policy. There will be no maturity benefits. If you choose a term policy for 15 years.. if you die after opting for the insurance.. the family will get the money every month for the rest of those years. However.. if one survives the entire term period.. there will be no maturity benefits.
ఈ నాలుగు ఆకులు తింటే చాలు. రక్తం, కాలేయం క్లీన్ అయిపోతాయి
The policyholder can also decide how the insurance money will be distributed to the family. That is.. when he dies.. he can decide that the whole amount will come or that it will come monthly. Also.. he can also decide how much money to get to the family every month.. that means now he can fix whether it is equal to the salary or less.. this policy is getting good reception in recent times... more people are joining the policy.
1. Salary protection insurance secures your loved ones in your absence.
If you earn a regular income and have family members dependent on it for their living, salary protection is the perfect solution. It ensures that they do not have to look for other ways to make ends meet in your absence. It does this by providing a guaranteed payout on your demise that helps them stay afloat during turbulent times. Moreover, it aids them in fulfilling life’s milestones like:
1. Paying for a child’s education or marriage
2. Adding to funds for a spouse’s retirement
3.Buying a new home/ setting up a business
4. Paying off any debts/ loans left by you
2. Salary protection insurance helps maintain the lifestyle of your loved ones.
Apart from giving a fixed payout on your demise, salary protection insurance also gives out regular payouts that help your family maintain their usual standard of living. With it, they do not have to compromise on their spending. Moreover, these steady payouts take off the burden of managing a lump sum amount and prevent a large pool of funds from running out quickly. Small and regular income payouts help to make it easy to manage money and meet needs from time to time.
HIGH SCHOOL తరగతి వారి ( CLASS 6-10 ) సబ్జెక్టు వారి మోడల్ LESSON PLANS
An assured death benefit (sum assured) in a lump sum.
❏ This benefit amount is equal to 12 times the monthly income of the insured and compounded at the rate of 6% per year
❏ The total death benefit amount and increased monthly payouts are 10 times the annual premium, or;
❏ 105% of the total premiums paid until the date of the insured’s demise
➢ A monthly income payout of the remaining benefit amount/ sum assured
➢ A monthly income increase by 6% per policy year to negate inflation
➢ The option to add an accidental disability guardian benefit rider
➢ Regular and limited paying premium terms
➢ A policy term ranging between 10 – 30 years
➢ Tax benefits under section 10 (10D) and 80C of the Income Tax Act, 1961
➢ A free-look period of 15 days
With salary protection insurance, you get the necessary peace of mind knowing that your near and dear ones will not have to compromise on their financial needs. With it, you can continue to support them, even when you are not around
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