A life insurance policy is a document that outlines the benefits of your life insurance. This could be in the event of your death or upon being diagnosed with a terminal illness. When you or your nominated beneficiary make a claim, a lump sum payment may be provided to your family. If something were to happen to you, your family would likely be covered for some of life’s major expenses, whether that includes significant medical expenses or modifications to your home due to a disability, or potentially even funeral arrangements. Life insurance is a type of insurance that’s designed to provide you and your family with financial peace of mind. By considering all of the available information, you’ll be able to make an informed decision about your life insurance quotes. Ultimately, if you have any questions you should ask an advisor. Find out whether these shortcuts increase the cost of your premiums, or whether they have more exclusions that may affect you in the future. The shortcuts: It might initially seem convenient not having to hand over any medical details to get covered, but it can also lead to inconvenience further down the line.The ongoing cost of cover: Will the premiums stay the same each year, or will they increase depending on your age? Can you afford the insurance in the long term?.Your medical history: Do you have any pre-existing medical conditions that may not be covered, or may increase the cost of the life insurance quotes?.The inclusions and exclusions: What events or illnesses are covered by the life insurance policy? What’s not included? Is it likely to affect you?.The level of cover: How much will your provider pay should you or your family need to make a claim?.The type of life insurance cover: Are your quotes for income protection, total and permanent disability (TPD) cover or another type of life insurance?.The Australian government recommends considering the following when comparing policies: This document will contain all of the important information about your product, and will allow you to better determine whether it’s suitable for your needs. You should always read the product disclosure statement (PDS) of the life insurance products you’re reviewing. Before you select a life insurance policy, you should fully understand the product you’re purchasing, and take the time to consider your options. Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here Beware of Spurious Phone Call and Fictitious/Fraudulent Offers Beware of fake / spurious calls - DOs and DONTs " FRAUDULENT RECRUITMENT ADs: BEWARE.If you’re in the process of getting life insurance quotes, it’s important you don’t allow yourself to feel pressured into making a quick decision. Also on ALL POSSIBLE digital modes through LIC website without any service charges. App can be downloaded from play store" "Revised Working Hours of All Offices of LIC Of India from, pursuant to Notification S.O.1630(E) Dated 15th April 2021 wherein the CENTRAL GOVERNMENT has Declared Every Saturday as a Public Holiday for Life Insurance Corporation of India." "Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT Form" "PLEASE REGISTER IN CUSTOMER PORTAL FOR AVAILING ONLINE SERVICES" Basic Safety measures to fight against Coronavirus Disease(COVID-19) Breaking News : LIC premiums can now be paid at the nearest CSC centres throughout the country. "Conference Call on IEV (Indian Embedded Value) as at 31st March, 2022 on 15th July 2022 at 9 AM" "Individual Pension Policyholders/ Annuitants can submit Digital Life Certificate through mobile app Jeevan Saakshya.
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