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At Capital Small Finance Bank Limited, we recognize that everyone has unique needs that evolve over various stages of life. Ensuring the security of your future becomes paramount in the pursuit of a fulfilling life. We provide a diverse range of life insurance solutions tailored to each customer, whether you’re a young individual planning for the future or an established professional preparing for retirement.
We believe that banking services should extend beyond meeting financial needs—they should also offer protection for what matters most. Be it your home, office, machinery, vehicle, or health, we’ve got you covered. We present a variety of flexible general insurance options designed to cater to every customer’s specific needs.
Life insurance is essential as it provides financial security to the family in the event of the unfortunate death of the policyholder. Life insurance enables the policyholder's family to maintain financial independence, ensuring they do not have to compromise on their lifestyle.
Additionally, life insurance policies can be used as a tax-efficient tool to pass on wealth from one generation to the next. The main categories of life insurance include Term Insurance, Traditional Insurance (par, non-par), Unit Linked Insurance, and Health Benefits-Related Insurance.
Based on the above categories, there are many life insurance plans available to cater to the varied needs and goals of policyholders. These include Term Insurance Plans, Health Insurance Benefit Plans, Whole Life Insurance Plans, Children's Education Insurance Plans, Money Back Insurance Plans, Endowment Plans, and Unit Linked Insurance Plans.
Term Insurance is the simplest and purest form of life insurance. It provides financial protection to your family at the most affordable rates. It enables you to acquire substantial life coverage (i.e. sum assured) at a relatively low premium rate.
The premium payable for life insurance is a critical factor governing purchase decisions. The affordability of term insurance is influenced by premium payment modes, making it a budget-friendly choice compared to other life insurance products.
In this option, you need to pay the premiums periodically for the entire policy period. With regular pay, you can choose to pay your premiums yearly, half-yearly or monthly.
With limited pay term insurance, you make payments for a shorter duration than the policy term, maintaining your life coverage throughout. This offers flexibility in premium payment timing, but the premium installments tend to be higher compared to regular pay term insurance.
Single-pay term insurance enables a one-time premium payment, ensuring continuous life coverage for the entire policy term. This eliminates concerns about periodic payments and potential policy lapses due to non-payment. Also, insurers often offer attractive discounts on single-payment term insurance premiums.
Zero-cost term insurance allows policyholders to option to exit the plan at a specific age and receive a refund of all their premiums, minus the GST. Simply put, a zero-cost term plan comes at the cost of a regular term plan (no extra costs) and provides the flexibility of exiting the plan early (if they wish to), getting back the premium they have paid.
Health Insurance Benefits Plans provide a lump sum payment to cover significant expenses, which is separate from your medical or health insurance policy. Health issues often come unexpectedly, and the cost of treatment can burden your family, leading to potential income loss. Typically, families use their savings, intended for education or retirement, to meet these expenses. But a critical illness benefit can offer the required funds at the right time.
Whole Life Insurance is a term insurance policy that covers you for 99 years. They are different from ordinary insurance policies which have a defined term of say 10, 20, or 30 years.
Child Education Insurance Plans ensure both protection and savings to secure your children's future. As a parent, one of your most important goals would be to make sure that your children have a bright future and lead their lives comfortably. This plan provides comprehensive protection, providing a lump sum in case of unforeseen events during the policy term. This amount can cover ongoing expenses and support your child's education, offering all-round protection.
Also, the payouts are exempt and subject to section 10 (10D) guidelines issued by the government from time to time. This facility ensures that your child’s funds are not eroded by taxation.
A money-back policy is a type of life insurance product that provides the dual benefit of investment and protection. With a money-back policy, you can receive returns at regular intervals during the policy term. A money-back policy also provides a life cover that keeps your loved ones financially protected in case of an unfortunate event.
An endowment policy is a life insurance plan that pays a lump sum amount either upon maturity or in the event of the policyholder's death. It serves as a risk-free savings tool while offering financial protection for your family. This simplicity has made it an appealing savings option over the years.
A ULIP, or Unit Linked Insurance Plan, is an insurance product that blends insurance and investment advantages into a single package. It not only fosters the growth of your wealth for future needs but also provides life coverage, safeguarding your loved ones from life's unforeseen events.
Savings plans are financial products designed to enable disciplined savings while delivering steady returns that help you achieve your financial goals. Since these plans are primarily centered around life insurance, they provide a safety net for your loved ones in case of an unfortunate event involving you.
Most people aspire to upgrade their lifestyle and secure their dreams and aspirations. Not only do you need to save your money but also grow it to fulfill your dreams.
A guaranteed return plan, as the name implies, is a reliable way to save money and ensure guaranteed returns for your future. It provides customizable income or return options to suit your specific needs.
The plan offers low-risk savings that can be used to cover varied financial goals. You can choose a sum assured based on your requirements based on which the premium is determined. At maturity, you receive your lump sum savings.
Retirement Plans are a category of life/annuity plans that are specially designed to meet your post-retirement needs such as medical and living expenses. You desire to uphold your lifestyle after retirement, considering potential rising expenses due to inflation. You would also have post-retirement dreams such as traveling the world, pursuing a hobby, starting a new venture, and more. By planning, you can be financially prepared for your retirement.
