Secure Your Family's Future with Life Insurance
Life insurance is a crucial financial tool that provides a safety net for your loved ones in your absence. It ensures that your family can maintain their standard of living, meet their financial goals, and handle any outstanding liabilities without financial strain. It's not just a policy; it's a promise to protect those who matter most.
Our Focus: The Pure Protection of a Term Plan
At M-Vita Services, we believe in providing clear, effective, and affordable solutions. That's why we strongly recommend a Term Insurance Plan as the foundation of your financial protection strategy.
- High Coverage, Low Premium: Get a substantial life cover (e.g., ₹1 Crore) for a very affordable premium, ensuring maximum protection without straining your budget.
- Simplicity and Transparency: Term plans are straightforward. You pay a premium, and your family receives the sum assured in case of an unfortunate event during the policy term. No complex investment calculations.
- Financial Goal Alignment: By separating insurance from investment, you can secure your family with a term plan and invest the savings in better-performing assets to achieve your long-term goals like retirement or children's education.
Analyze Your Existing Policy
Is your current insurance policy also an investment? Use our calculator to understand its real returns in terms of CAGR (Compound Annual Growth Rate).
Other Common Life Insurance Plans
Endowment Plan
A combination of insurance and savings. It provides a lump sum amount on maturity or on the policyholder's death. Premiums are higher than term plans.
Unit Linked Insurance Plan (ULIP)
A mix of insurance and investment where part of the premium goes to life cover and the rest is invested in market-linked funds (equity or debt).
Money Back Plan
A type of endowment plan that provides periodic payouts (survival benefits) during the policy term, with the remaining sum assured paid at maturity.
Our Trusted Partner: ICICI Prudential Life Insurance
We have partnered with ICICI Prudential, one of India's leading and most trusted private life insurance companies. Their commitment to customer-centricity, high claim settlement ratio, and innovative product suite allows us to offer you the best-in-class life insurance solutions tailored to your needs.
Our Simple Onboarding Process
Consultation
We understand your needs, goals, and financial situation.
Plan Selection
We recommend the most suitable plan and coverage for you.
Documentation
We assist you in completing the application and submitting documents.
Policy Issued
Your policy is issued, and your family's future is secured.
How Much Life Insurance Do You Need?
Calculate your Human Life Value (HLV) to get an estimate of the ideal insurance cover for your family.
Required Documents
When Should You Review Your Life Insurance?
Your life insurance needs are not static. It's essential to review your policy at major life milestones to ensure your coverage remains adequate.
Frequently Asked Questions
The best time to buy a term plan is as early as possible. When you are young and healthy, the premiums are significantly lower and remain fixed for the entire policy term. Delaying the purchase can lead to higher premiums.
Yes, you can have multiple life insurance policies. However, you must disclose all existing policies to the insurer when applying for a new one. The total sum assured across all policies should be justifiable based on your income and financial profile.
If you stop paying premiums for a term plan, the policy will lapse after the grace period, and all benefits will cease. For investment-linked plans, the policy might acquire a paid-up value or be surrendered, depending on the terms and conditions.
As per Section 10(10D) of the Income Tax Act, the sum assured received on maturity or death is generally tax-free. However, conditions apply, especially for policies issued after April 1, 2012, where the annual premium should not exceed 10% of the sum assured.