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Insurance Plans Best Suited For You
Lucknow is the capital city of the largest state of Uttar Pradesh in India. The city is home to a rich culture and is also known as the Land of Nawabs. It is also a popular tourist attraction along with neighbouring cities of Agra and Varanasi attracting tourists from across the globe. Apart from being a tourist attraction, the city is also home to the best educational institutions like IIM Lucknow, IIIT Lucknow, and many other major universities of different faculties.
The population of Lucknow is also quite diverse and has the benefit of good health care facilities but there is still a long way to go. Among these scenarios, life insurance is the best bet to secure the future of the family from any uncertainty. Given below are a few pointers related to life insurance in Lucknow.
Life Insurance is the coverage provided by designated insurers, (private insurers or public insurers) to the insured person. The coverage can be for their lifetime or till the maturity of the policy. These policies also provide death benefits to the nominee or the legal heir upon the death of the insured person.
There are multiple options of life insurance that can be opted for by residents of Lucknow. These policies can help them meet their specific needs like insurance and corpus building, securing the future of their child, securing their retirement and getting regular income at such time, etc. Some of the common types of life insurance available for the residents of Hyderabad are mentioned below.
The process of buying and making a claim for life insurance has been made quite simple through online or offline modes. It is necessary to provide the required mandatory documents for each of these stages. Given below is the list of documents that are needed for buying life insurance and making a claim.
Buying a life insurance
The documents needed for buying life insurance are,
Proof of age
The documents that can be provided as proof of age are,
Proof of identity
The documents that can be provided as proof of identity are,
Proof of address
The documents that can be provided as proof of address are,
Proof of income
The documents that can be provided as proof of income are,
Making a claim
The documents needed for making a claim for life insurance are mentioned below.
Important details of the policyholder
The basic details of the policyholders that need to be provided are,
Life insurance can be taken by any resident of Lucknow for themselves or their family members. There are multiple benefits of life insurance that make it an attractive investment option even for the younger generation. Some of the benefits of life insurance are mentioned below.
1. What are the important factors considered while selecting a plan?
A. The important factors considered while selecting a plan are,
2. What are some of the riders available on life insurance plans?
A. Some of the riders available on life insurance plans are,
3. How can I buy a life insurance policy in Lucknow?
A. A person can easily buy life insurance through online or offline modes for themselves or their family members.
4. What is the maximum deduction on life insurance premiums?
A. Policyholders can claim a maximum tax deduction of up to Rs. 1,50,000 under section 80C of the Income Tax Act, 1961.
5. What is the lock-in period for ULIPS?
A. ULIPS come with a minimum lock-in period of 3 to 5 years.