Insurance

The need of the hour

Life is full of uncertainties. You may get married, find an amazing job, and start a new life. However, you might also contract an illness. Your house might be damaged in an earthquake or a flood. Your vehicle may be involved in an accident. Instances are many and, yet, the result always has a financial repercussion.

While you can take measures to control or limit the financial losses suffered in a contingency, you cannot avoid them altogether. So what do you do?

You buy insurance, what else!
Insurance plans are designed to cover the financial risks that you might face in life. They compensate you for the loss suffered so that your finances don’t take a hit. So, if you want financial security against unforeseen expenses, insurance becomes a must. By opting for an insurance plan, you can safeguard yourself from a financial strain in an emergency.

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INSURANCE PLANS

Life Insurance

Life insurance plans primarily cover the risk of untimely demise of the insured. In case of an unforeseen demise of the insured, a death benefit is paid, which helps the family face the financial loss.

Health Insurance

Health insurance plans cover medical emergencies. So, if you suffer from an illness or an injury and you are hospitalized, health insurance plans would help pay the medical bills

Travel Insurance

Wouldn’t you like to travel safely without the bother of meeting a financial emergency? This is where travel insurance plans come to the rescue.

Motor Insurance

If you own a vehicle, a Motor Insurance Cover is a must to protect it against unforeseen damages. In India, it is compulsory by law to have a third-party insurance cover for your vehicle.

INSURANCE PLAN BENEFITS

Buying insurance can be a rewarding experience

There are various benefits of buying insurance plans covering the different types of financial risks that you can face. Do you know what these benefits are? Let’s have a look:

Financial security

Financial security

Insurance plans compensate for the financial risks that you suffer in unforeseen contingencies and provide financial security.

Safety of your financial savings

Safety of your financial savings

If you insure your losses, the insurance policy shoulders the financial burden of such losses, whenever they may occur. This safeguards your savings, allowing you to use them for their intended purposes, i.e., meeting your financial goals.

Coverage for a rainy day

Coverage for a rainy day

Sometimes you might suffer an unforeseen loss. Insurance plans act as an umbrella during such times and protect you financially.

Attractive tax benefits

Attractive tax benefits

Lastly, let’s not forget about the tax advantages of insurance plans. Life and health insurance policies have tax-saving benefits that lower your tax outgo, and that too, considerably!

Financial security

Insurance plans compensate for the financial risks that you suffer in unforeseen contingencies and provide financial security.

Safety of your financial savings

If you insure your losses, the insurance policy shoulders the financial burden of such losses, whenever they may occur. This safeguards your savings, allowing you to use them for their intended purposes, i.e., meeting your financial goals.

Coverage for a rainy day

Sometimes you might suffer an unforeseen loss. Insurance plans act as an umbrella during such times and protect you financially.

Attractive tax benefits

Lastly, let’s not forget about the tax advantages of insurance plans. Life and health insurance policies have tax-saving benefits that lower your tax outgo, and that too, considerably!

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TAX ADVANTAGES*

The tax advantage of insurance plans

As mentioned earlier, life and health insurance plans have an added tax advantage. You can reduce your tax liability by investing in these plans. Here’s how:

Section 80C

Tax benefits under life insurance plans

The premium that you pay towards a life insurance policy is allowed as a tax-free deduction from your income. This deduction is available under Section 80C.

Furthermore, the death benefit is completely tax-free, and so is the maturity benefit under Section 10 (10D). When policy benefits are concerned, there is no restriction on the maximum tax-free amount. Whatever you get would be exempted from tax.

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Section 80D

Tax benefits under health insurance plans

Health insurance policies also give you a deduction on your taxable income. The premium paid for health insurance plans, regardless of the type of policy, is allowed as a deduction under Section 80D.

The maximum limit of deduction is Rs. 25,000 if you are below 60 years of age. If you are a senior citizen, the limit is Rs. 50,000.
Additionally, if you insure your dependent parents under a health insurance plan, you can claim an additional deduction. The deduction limit is Rs. 25,000 if your parents are below 60 and Rs. 50,000 if they are senior citizens.
For life insurance, tax benefits of ₹46,800 u/s 80C is calculated at the highest tax slab rate of 31.20% (including CESS excluding surcharge) on life insurance premium u/s 80C of ₹1,50,000

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*Tax benefits are subject to changes in tax laws.

BENEFITS

Plan Pricing

Insurance plans starting at less than Re. 1 a day!

Coronavirus Insurance

697/year

Less than Rs. 2 per day!

Accident Insurance

33/year

Less than Re. 1 per day!

1-Year Term Life insurance

880/year

Approximately Rs. 2.5 per day!

BENEFITS

Why insure with us?

Here are some benefits of getting insured with us:

Curated offerings

Curated offerings

Curated offerings

You can find the best insurance plans that offer the most comprehensive coverage benefits for maximum protection.

Quick Insurance

Quick Insurance

Quick Insurance

Did you know you can get insurance in a few clicks? Get covered instantly without any hassles!

Easy access

Easy access

Easy access

All your insurance purchase related details are stored safely, making it easy for you to access your insurance document anytime, anywhere.

Safety

Safety

Safety

You no longer need to worry about security risks when getting insurance. An encrypted and completely safe platform ensures that you get the policy securely.

OFFERINGS

What we offer

Here’s a brief look at what we offer:

Claim Assistance

Just like getting or renewing an insurance plan is simple, claiming insurance is also a hassle-free process. You just need to initiate your claim process with the intermediary.

Policy Servicing

As your insurance requirements grow over time, you will be required to maintain it. Get your policy serviced at regular intervals in a hassle-free manner.

Dedicated Assistance

If you have queries related to your insurance, simply contact us and assistance will be provided to you

Insurer Comparison

Make an informed decision with the choice of multiple insurers.

Claim Assistance

Just like getting or renewing an insurance plan is simple, claiming insurance is also a hassle-free process. You just need to initiate your claim process with the intermediary.

Policy Servicing

As your insurance requirements grow over time, you will be required to maintain it. Get your policy serviced at regular intervals in a hassle-free manner.

Dedicated Assistance

If you have queries related to your insurance, simply contact us and assistance will be provided to you

Insurer Comparison

Make an informed decision with the choice of multiple insurers.

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PhonePe Insurance Broking Services Private Limited. IRDAI Direct Broker (Life & General)
Reg. 766 and Broker Registration Code IRDA/DB 822/20 Valid till 10/08/2024.

Regd. office - Office-2, Floor 4,5,6,7, Wing A, Block A,Salarpuria Softzone, Service Road,
Green Glen Layout, Bellandur, Bengaluru, Karnataka-KA, Pin- 560103

CIN: U66000KA2020FTC132814

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