Insurance is literally the lifeline of your family. It is a financial tool and a span to reach all types of financial goals. Sarvam Associates, also provide an Insurance Advisory service that helps you to achieve your financial objectives through systematic analysis of your future needs and wants can help you achieve those objectives.
Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries when the insured dies. The insurance company promises a death benefit in exchange for premiums paid by the policyholder.
Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified “term” of years. If the insured dies during the time period specified in the policy and the policy are active, or in force, a death benefit will be paid.
Term insurance is initially much less expensive when compared to permanent life insurance. Unlike most types of permanent insurance, term insurance has no cash value. In other words, the only value is the guaranteed death benefit from the policy.
Health insurance is a type of insurance coverage that typically pays for a medical, surgical, prescription drug, and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. The cost of health insurance premiums is deductible to the payer, and the benefits received are tax-free, with certain exceptions.
General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event.
Life is full of risks. That’s what makes it so interesting and exciting. But some unexpected events can really set you back.
General insurance helps us protect ourselves and the things we value, such as our homes, our cars, and our valuables, from the financial impact of risks, big and small – from fire, flood, storm, and earthquake, to theft, car accidents, travel mishaps – and even from the costs of legal action against us. And we can choose the types of risks we wish to cover by choosing the right kind of policy with the features we need.