® 
Overview Life Insurance in Dehradun
Life Insurance is an important investment for every family. A life insurance policy protects your family financially in the case of your death. It ensures that you and your family are not concerned about fulfilling basic needs while recovering from any unexpected disasters.
Dehradun, a favourite vacation spot in northern India, is a tourism magnet. It has a population of around 16 lakhs. Tourism is the main job provider in this city. This city is an amalgamation of British era modernism and Indian tradition, creating a beautiful cultural scene.
What is a life insurance policy?
A life insurance policy is a legal agreement between the insurer and the insured that guarantees to pay the sum assured to the insured's nominees in the event of the insured's untimely death or the maturity of the policy.
Life insurance acts as a safety net for your family in the event that you are unable to provide for them financially. A life insurance policy ensures that your family's financial necessities are addressed while also realising their hopes and dreams.
Why do you need a life insurance policy in Dehradun?
A life insurance policy protects your family financially in the case of your death. It ensures that you and your family are not concerned about fulfilling basic needs while recovering from a natural disaster.
1. The risk is transferred to the insurer, who agrees to pay you a fixed amount of money if the risk happens.
2. Insurance can be purchased to protect against a wide range of risks.
3. A life insurance policy shields you from the risk of death, disease, or disability.
4. Life insurance can be customized to serve as a long-term wealth planning tool to assist you in meeting your financial goals.
Additional Read: How Much Life Insurance Do You Really Need
Types of Life Insurance Policies available in Dehradun
There are numerous types of life insurance. There are pure term policies that only pay the money assured upon the death of the insured and provide no other benefits. They have no maturity benefits but very low premiums. You can combine savings and investment features with your policy by selecting from retirement plans, children plans, ULIP plans, and so on.
Term Plans
Term insurance is the most basic, straightforward, and cost-effective type of life insurance. This life insurance policy provides coverage against the risk of death for a set length of time, and the beneficiary receives the sum insured only if the policyholder dies during that time period. No benefits will be paid to the nominee if the insured lives the term.
Endowment Plans
Endowment plans are a type of life insurance policy that combines insurance with savings. A portion is set aside for life insurance, while the remainder is invested by the insurance company. If the policyholder outlives the term period, the insurance company will pay him a maturity bonus. Prior to then, no compensation is given to the nominees. This policy protects you from the risk of living a long life. The advantages are less than those of term plans.
Unit Linked Insurance Plan (ULIP)
A Unit Linked Insurance Plan (ULIP) is a combination of insurance and investing. The purpose of a Unit Linked Insurance Plan is to promote wealth growth as well as life insurance policy coverage. The insurance company retains a portion of your contribution to maintain life insurance, while the remainder is placed in a fund that is based on equity, debt, or both and aligns with your long-term objectives.
Whole Life Insurance Plans
A whole life insurance policy, often known as perpetual life insurance, provides life insurance coverage until the policyholder's death. The sum assured or coverage is determined at the time of policy purchase and is paid to the beneficiary upon death claim - when the life assured dies.
Child Plans
Child plans are provided by insurance companies to ensure the well-being of an individual's children even when they are not present. This plan insures the life of a parent with dependent children. The underwriting is done on the parent's life, and the data of the children are submitted to the insurance company in the policy by the parent.
Retirement plans
Pension plans are retirement programmes that require you to contribute to a pool of assets set aside for your future benefit. This fund accumulation is invested on your behalf, and the proceeds from the investment provide income for your retirement.
Leading Life Insurance Policy Companies in Dehradun
LIC of India
Some of their popular life insurance products are:
- LIC's Saral Jeevan Bima
- LIC's Bima Jyoti
- LIC's New Endowment Plan
- LIC's New Jeevan Anand
- LICs Jeevan Umang
- LIC's New Children's Money Back Plan
- LIC's Jeevan Amar
- LIC's New Jeevan Shanti
HDFC Life Insurance Co. Ltd
Some of the popular Life Insurance products include
- HDFC Life Click 2 Protect 3D Plus
- HDFC Life Group Term Insurance Plans
- HDFC Life Click 2 Retire
- HDFC Life Pension Guaranteed Plan
- HDFC Life Click 2 Wealth
- HDFC Life Classic One
- Click 2 Protect Health
- HDFC Life SL YoungStar Udaan
- HDFC Life SL YoungStar Super Premium
ICICI Pru Life Insurance Co.
Some of their leading plans are:
- ICICI Pru iProtect Smart
- ICICI Pru Heart/Cancer Protect
- ICICI Pru Smart Health Cover
- ICICI Prudential Smart Kid Solution
- ICICI Pru Elite Life Super
- ICICI Pru Elite Wealth Super
- ICICI Pru Smart Life
- ICICI Pru LifeTime Classic
- ICICI Pru1Wealth
- ICICI Pru Guaranteed Wealth Protector
Kotak Life Insurance Co.
Some of their leading life insurance products are:
- Kotak Saral Suraksha
- Kotak Income Protection plan
- Kotak Term Plan
- Kotak Gramin Bima Yojana
- Kotak Sampoorn Bima Micro-Insurance Plan
- Kotak Classic Endowment Plan
- Kotak Premier Endowment Plan
- Kotak Headstart Child Assure
- Kotak Premier Pension Plan
- Kotak Lifetime Income Plan
SBI Life Insurance
Some of their most sought after products in life insurance are:
- SBI Life – eShield
- SBI Life - Saral Jeevan Bima
- Corona Rakshak Policy, SBI Life Insurance Co. Ltd.
- SBI Life - eWealth Insurance
- SBI Life Smart Platina Assure
- SBI Life – New Smart Samriddhi
- SBI Life - Saral InsureWealth Plus
- SBI Life – Retire Smart
- SBI Life – Annuity Plus
Who can take a life insurance policy in Dehradun?
A life insurance policy can be obtained by anyone who has a family to support and an income to pay the premiums.
- Life insurance coverage is offered to both Indian nationals and non-resident Indians.
- There is no upper age limit for purchasing life insurance; nevertheless, you must select a plan that is appropriate for your age. Child plans, for example, are available for children aged 1-18. Individuals over the age of 60, for example, can enrol in senior citizen policies.
- A person can acquire a life insurance policy for himself, his spouse, his children, or his parents.
- Some life insurance policies may necessitate a medical exam.
Life Insurance in Dehradun FAQs
1. Where should I apply for life insurance in Dehradun?
Life insurance companies have agents who will help you with the policy purchasing process. These days, you can also apply and buy a life insurance policy completely online.
2. What factors go into calculating the premium on my life insurance policy?
Your life insurance policy premium is mostly determined by the policy's sum assured. It also considers your age, medical history, premium payment term, and gender.
3. Do I have to undergo a medical check-up to get life insurance?
Not necessarily. You can get life insurance without any medical check-up. But if you are over 40 years and want to get term insurance, some insurers insist on a medical check-up.
4. What are the premium payment options available for my life insurance?
There are a number of ways to pay your premiums. You can pay it via netbanking, online payment, NEFT, ECS, UPI, credit/debit card, and even pay by cheque/DD at the nearest branch.
5. What are some reasons that your life insurance policy may be rejected?
Existing medical conditions (such as cancer or heart disease)
- High-risk profession (such as military service)
- Hazardous habits (like frequent skydiving or bungee jumping)
- Providing false information on your life insurance application