insurance

Life Insurance Plans

Loan Lelo Life offers a variety of life insurance plans and policies designed to meet your customized individual insurance needs and requirements. It is indeed quite a serious decision. Knowing that you hate to get into technicalities, we have simplified it for you.
The main features of Loan Lelo Life are-

• All our unit linked policies have a lock-in period of 5 years and so you will not get any liquidity during this period. A traditional policy also will not give you any value if you surrender your policy in 2 to 3 years.
• Right to deny claim in first 2 years
  The life insurance company has the right to deny the benefits in the first 2 policy years, on grounds of misrepresentation in the application form.
• Bonuses on your policy
  The bonus amounts in traditional policies are not guaranteed and are paid at the discretion of the company.
• Waiting period
  Your critical illness or health policy may have a waiting period during which the claim will not be processed.
• Investment risk
  If you have bought a unit linked policy, you are exposed to market-related risks. There are chances of losing money during difficult market conditions.
• Suicide exclusion
  In case the Life Assured commits suicide within the first year from the start or revival of the policy, the insurance benefit is lost.
• More conditions
  If your policy covers accidental death, disability, or critical illness, certain exclusions get added to the 'fine print'. For example, if you meet with an accident while driving a car under the influence of alcohol, it can annul your benefit paid under the accidental death cover.

Health Insurance Plans

With the exponential rise in health care costs, it has become imperative for everyone to be covered under a good health plan. A medical emergency can strike anyone, anytime and at any age. A complete family health insurance and an individual mediclaim policy help to safeguard you against the risk of a sudden and unforeseen hospitalization and related expenses. It is the best way share the financial burden of an uninvited surgery or illness.
Our insurance policies come with exceptional features with its individual and family floater health insurance plans. Safeguard your entire family’s health by purchasing our family floater mediclaim policy
Buy a mediclaim policy for your entire family to keep the risk of a financial tragedy at bay. In addition, to get the most affordable health insurance plan, ensure you compare policies that suit your needs as well as your budget. Stay ahead of the healthcare expenses by purchasing our unique Health Insurance plans now!
Additionally, we also offer Personal Accident Insurance which takes care of your family in case of your accidental death or disablement.

Term Insurance Plans

Term Insurance Plans are temporary insurance plans that provide a potential death benefit for a fixed period or ‘term’. This is commonly a flat premium for say, 5, 10, 15, 20, or 30 years. After the end of the term the policy no longer provides a death benefit. The other common characteristic of term life is there is generally no cash accumulation, which helps keep the cost relatively low. Benefits of Term Insurance are:

• Simplicity
• Flexibility
• Competitive Pricing
• Tax Benefits
• Lowest Premiums

Contact Us for your kind of Term Insurance Plan.

General Insurance Plans

Life often throws unexpected surprises at us. The good ones are always welcome, but the nasty surprises often catch us unawares and set us back.
General Insurance helps us protect ourselves and our valuables from the financial impact of risks, big and small – from fire, flood, storm and earthquake, to theft, car accidents, and 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.
General Insurance works by spreading the cost of unexpected risks among a large number of people in the same region who share similar risks.
If things go wrong, your insurer may either repair or replace the items that have been lost or damaged, depending on the terms of your policy. You may also have the choice of receiving a cash settlement for the amount of money agreed in your policy.

Pension Plans

To enjoy life in a laid back way, in the prime of your life and fulfill your dreams and aspirations, we offer pension/ retirement plans that suit every need. We offer Individual, Participating, Non Linked, Traditional Pension Plans, which provides complete safety from market volatility, by providing you a secure future and a joyous retirement.
Key Features:

• Guaranteed Bonus: Guaranteed simple reversionary Bonuses for first 5 years; @ 2.50% for first three years and @2.75% for the next two years, of the Sum Assured.
• Vesting (Maturity) benefit: Sum Assured plus vested simple reversionary bonuses plus terminal bonus, if any. The sum assured carries an implicit guaranteed interest rate of at least 0.25% p.a. compounding annually on the total premiums.
• Death Benefit: Higher of total premiums paid accumulated at an interest rate of 0.25% p.a. compounded annually plus vested reversionary bonus plus terminal bonuses, if any or 105% of total premiums paid.
• Life Cover: Option of additional life cover through SBI Life - Preferred Term Rider (UIN: 111B014V02).
• Flexibility: You can defer the vesting date up to age of 70 years or extend the accumulation / deferment$ period of your policy.