Life Insurance

Protection & Savings
For Every Family

Life insurance gives your family a guaranteed payout — and returns your money if you survive the policy term. Protection and savings in one plan.

Death Benefit GuaranteedMaturity PayoutTax-Free Returns
Who Needs Life Insurance?

Protection For
Every Life Stage

Our Commitment
If you are not eligible for a term plan due to age or health conditions — we ensure you are not left unprotected. A life insurance savings plan provides equivalent family coverage with the added benefit of maturity value.
👴 Seniors (50–70 years) — Term may be expensive or unavailable. Life insurance savings plans provide affordable coverage.
🏥 Health Conditions — Diabetes, BP, heart history can disqualify term plans. Life insurance still covers you.
💰 Savings + Protection — Want guaranteed returns? Life insurance combines savings discipline with family protection.
Tax Benefits
✓ Premium deductible u/s 80C (up to ₹1.5L/yr)
✓ Maturity proceeds tax-free u/s 10(10D)
✓ Death claim always 100% tax-free
✓ Loan against policy after 3 years
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Documents Required

Life Insurance Checklist

👤Identity & Age Proof
Aadhaar Card (identity + address)
PAN Card (mandatory)
Age proof: birth certificate / passport / 10th certificate
Passport-size photographs (3)
💰Income & Financial Proof
Last 3 years ITR (for high sum assured)
Latest salary slip (salaried)
Bank statements (6 months)
Business financials (self-employed)
🏥Health & Medical
Medical examination reports (if required by insurer)
Existing medical records (for pre-existing conditions)
Proposal form (filled & signed)
Nominee details: Aadhaar + relationship proof
FAQs

Life Insurance Questions

What is the difference between term and life insurance?
Term Insurance: Pure protection — pays only on death. No maturity benefit. Very low premium for very high cover. Life Insurance (Endowment/Whole Life/Money Back): Protection + savings — pays on death AND at maturity. Higher premium but you get money back. Choose based on your need and eligibility.
Who should choose a life insurance savings plan over term?
(1) People with health conditions that disqualify them from term plans, (2) Those above 65 where term may be expensive, (3) Those who want guaranteed savings + protection in one product, (4) People uncomfortable with 'no return if I survive' concept of pure term.
Is life insurance maturity amount taxable?
Tax-free under Section 10(10D) if annual premium paid does not exceed 10% of sum assured (for policies issued after 1 April 2012). Death claim proceeds are always 100% tax-free regardless of amount. ULIP maturity above ₹2.5L annual premium is subject to LTCG.
What is a loan against life insurance policy?
After paying premiums for 3 years, you can take a loan against your life insurance policy's surrender value — typically 80–90% of surrender value. Low interest rate. Policy continues to provide coverage. Ideal for short-term liquidity needs.
Can I have multiple life insurance policies?
Yes. There is no restriction on the number of life insurance policies. Premium for each is eligible for 80C deduction (within overall ₹1.5L limit). For term insurance, total sum assured across all policies is underwritten based on human life value.
What happens if I miss life insurance premium?
Most policies have a 30-day grace period. Payment in grace period restores full coverage. After grace period: policy lapses. Revival possible within 2–5 years by paying arrears + interest + medical check. After 3 years of paid premiums, policy gets a 'paid-up' status.
What is the claim settlement process for life insurance?
Nominee submits: (1) Filled claim form, (2) Original policy document, (3) Death certificate, (4) Nominee's identity proof. Insurer processes within 30 days of receiving all documents. We assist nominees with the complete claim process — free of charge.

Srikara Financial Services assists individuals in accessing insurance products from all leading registered insurance providers. Insurance policies are issued by the respective insurance companies. Premiums are indicative. Tax benefits based on applicable Income Tax Act provisions. Please read the policy document before purchase.

Important Legal Notice

For your guidance and assistance only. Srikara Financial Services is an independent financial guidance and assistance platform. We help individuals understand and access loan and insurance products offered by banks, housing finance companies, and registered insurance providers. We do not lend money, we do not underwrite or issue insurance policies, and we do not make credit or underwriting decisions of any kind.

All loan sanctions, disbursals, and credit approvals are made solely by the respective financial institutions based on their own credit assessment policies. All insurance policies are issued solely by the respective registered insurance companies based on their own underwriting criteria. Approval is never guaranteed. Interest rates and premiums shown are indicative and subject to change.

No liability for financial outcomes. Srikara Financial Services and its representatives are not liable for any financial loss, claim rejection, policy lapse, loan default, or any other financial outcome arising from products accessed through our guidance. All financial decisions are the sole responsibility of the customer. We strongly recommend reading all product terms, conditions, and key information documents before making any financial commitment.

Insurance-specific notice. We assist you in comparing and accessing insurance products from all leading registered insurance companies. We do not guarantee policy issuance, claim approval, or any specific coverage outcome. Insurance is subject to acceptance by the insurer based on their underwriting norms. Claims are settled solely by the insurance company. We are not liable for any claim rejection, policy exclusion, or insured amount recovery issues. Please read your policy document carefully before purchase.

Tax information. Tax benefits and exemptions mentioned on this website are based on prevailing Income Tax Act provisions applicable to resident Indians. Tax rules are subject to change by the government. NRI tax treatment varies by country of residence. Please consult a qualified chartered accountant or tax advisor for personalised tax guidance. This website provides general information only and does not constitute legal, financial, or tax advice.