Why to have a life insurance

1. Presented By : - Alliance Insurance Associates • 301-1230 91 Street SW, Edmonton, Alberta T6X 0P2

2. What is life insurance Life Insurance can be termed as an agreement between the policy owner and also the insurance firm, wherever the insurance firm for a consideration agrees to pay a sum amount of cash upon the occurrence of the insured individuals or individuals death or different event, like terminal illness, essential health problem or maturity of the policy.

3. Type of life insurance Term Life insurance plan Term Insurance may be a life insurance plan that gives financial support to the beneficiary of the insured policyholder for an outlined amount of your time. within the event of death of term insurance policyholder during policy term, the beneficiary will claim death advantages from the insurance firm. Permanent / Whole Life insurance Plan • Permanent / Whole life insurance is another type of endowment plan, In which plan the policyholder have to pay a premium throughout his life. • There are two type of whole / permanent life insurance plan. • Ordinary whole life insurance plan. • limited payment whole life insurance plan. Endowment Insurance plan Life Insurance endowment plan, that is also known as life insurance, upon completion of insurance term, the policy pays the total add insured to the holder, if the customer dies throughout the term of the policy, then the beneficiaries are going to be given full add assured Pays.

4. Why to have Life Insurance • Protection • Liquidity • Tax Relief • Money when you need it

5. Benefits of life insurance • Peace of Mind. • Tex Benefits. • Financial support to insured family. • Create a source of Saving. • Children's Life Insurance. • Money Back Policies. • No mark fluctuations in value. • No security expenses. • increase in value. • Policy surrenders possible in case of default. • Policy assignments title easily obtainable.

6. How to Claim Life Insurance Maturity Claim • In case of Endowment type of Policies, amount is payable at the end of the policy period. • Discharge Form & Policy Document. • On receipt of these two documents post dated cheque is sent by post so as to reach the policyholder before the due date. • The gross amount consists of Basic sum assured and bonus if any Survival Benefits • Same as maturity claims, sum assured becomes payable on expiry of full term but on survival of the insured. • In policies like, money back plan for 15 years term, 1/4th of the sum assured becomes payable on the life assured on surviving 5 year, further 1/4th becomes payable after additional 5 years and rest balance at the end of 15 years

7. Death Claim • There are two Types: • Premature death claim – within 3 years • Other claim – after 3 years • Intimation of death is to be given by a proper person in writing. • Original Policy Bond • Death Certificate • Proof of relationship with the deceased person In case of Accidental Death • Post-mortern Report,  FIR Copy , Final Police Report is also required • https://www.insurancealliance.ca/ Alliance Insurance Associates • +1 (780) 490 - 0053 • 301-1230 91 Street SW, Edmonton, Alberta T6X 0P2