Life Insurance
Life Insurance, Offered Through Bajaj Capital Insurance Broking Limited
A life insurance policy is a promise to pay your family a sum of money if you are no longer there to provide for them, in exchange for the premium you pay while you are. This page explains what that means and how the relationship works; get in touch for what is currently available to you.
Insurance is offered through Bajaj Capital Insurance Broking Limited, for whom Prabhakar S M acts as a Point of Sales Person (POSP No. POS7192, Composite).
What Life Insurance Is
You pay a premium, regularly or as a lump sum, and in return the insurer promises to pay a sum — the sum assured — to the people you nominate if you die while the policy is active. Life insurance products vary in structure: some are built purely around that protection, others combine it with a savings or investment element, and terms range from a fixed number of years to your whole life.
Plan Types
How Life Insurance Is Usually Structured
These are general categories that exist across the market, not a list of what is confirmed available through this appointment.
Traditional Plans
A conventional plan with the premium and the sum assured fixed at the outset; some also add bonuses the insurer declares over the policy term.
ULIP Plans
Unit Linked Insurance Plans combine life cover with an investment component — part of the premium buys protection, part is invested in market-linked fund options you choose between.
Term Plans
Pure protection for a fixed number of years — a sum is paid to your nominees if you die within that term, with no payout if the term is outlived.
Pension Plans
Also called a retirement or annuity plan — built around a corpus during your working years, paid out as income after retirement, for a fixed period or for life depending on the plan.
Life Insurance Available Through Bajaj Capital Insurance Broking Limited
Frequently Asked Questions
What does a life insurance policy actually pay out?
A life insurance policy pays a sum of money to the people you nominate if you die while the policy is in force, in exchange for the premiums you pay. That is the one thing every life insurance policy has in common — the details of how, and how much, vary by plan.
Is life insurance the same as a mutual fund or an investment?
No. A mutual fund invests your money with the aim of growing it; a life insurance policy exists to pay a sum to your family if you are no longer there to provide for them. Some life insurance products do carry a savings or investment element alongside the cover, but the two are answering different questions.
How much cover do I actually need?
A common starting point is a multiple of your annual income, adjusted for what your family would need to replace — outstanding loans, future expenses like education, and years of regular income. It depends on your situation, and is worth a proper conversation rather than a rule of thumb applied blindly.
Is the payout to my family taxable?
Life insurance payouts are generally exempt from tax under Section 10(10D) of the Income Tax Act, subject to conditions that depend on the premium paid relative to the cover. For how this applies to a specific policy, we would point you to a chartered accountant rather than guess.
Which specific plans can I buy through you?
That depends on what is confirmed as available through Bajaj Capital Insurance Broking Limited at the time — get in touch and we will tell you exactly what applies to you right now, rather than publish a list here that could go out of date.
Want To Know What Is Currently Available To You?
Send a message and we will walk you through the options that apply right now.