SERVICES WE OFFER

  1. TIN Facilitation Center
  2. Business Advisory and Consultancy Services
  3. Investment Advisory services and Management
  4. Digital Signature Certificates (DSC)
  5. Back Office Support Division
  6. Insurance Planning and Advisory Services

PLANNERS & TOOLS

INSURANCE PLANNING & ADVISORY SERVICES

Chessy provides insurance planning and advisory services in a professional manner. One of our directors is a registered advisor . We are also the channel partners of Reliance Life Insurance Co Ltd.

Life Insurance is a contract for payment of a sum of money to the person assured (or failing him/her, to the person entitled to receive the same) on the happening of the event insured against. Usually the contract provides for the payment of an amount on the date of maturity or at specified dates at periodic intervals or at unfortunate death, if it occurs earlier. Among other things, the contract also provides for the payment of premium periodically to the insurer by the assured. Life insurance is universally acknowledged eliminates 'risk' to substitute certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of the death of the breadwinner. By and large, life insurance is civilisation's partial solution to the problems caused by death.

Life insurance, in short, is concerned with two hazards that stand across the life-path of every person : that of dying prematurely leaving a dependent family to fend for itself and that of living to old age without visible means of support.

Benefits of Life Insurance

  1. Protection : Savings through life insurance guarantee full protection against risk of death of the saver. In life insurance, on death, the full sum assured is payable (with bonuses wherever applicable) whereas in other savings schemes, only the amount saved (with interest) is payable.


  2. Aid to thrift : Life Insurance encourages 'thrift'. Long term saving can be made in a relatively 'painless' manner because of the 'easy installment' facility (method of paying premium either monthly, quarterly, half-yearly or yearly) built into the scheme.


  3. Liquidity : Loans can be raised on the sole security of a policy which has acquired loan value. Besides, a life insurance policy is generally accepted as security for a commercial loan.


  4. Tax Relief under Section80C of the Income Tax Act: Considerable tax relief in Income Tax and Wealth Tax is available to an individual or a Hindu Undivided Family for amounts paid by way of premium for life insurance. Individual and HUF assesses can avail themselves of provisions in the law for tax relief. In such cases the assured in effect pays substantially lower premium for his insurance than he would have to pay otherwise.


  5. Maturity Amount is completely Tax Free A very attractive feature of a Life Insurance is that the amount received on maturity is completely Tax Free


  6. Money when you need it : A suitable insurance plan or a combination of different plans can be taken out to meet specific needs that are likely to arise in future, such as children's education, start-in-life or marriage provision or even periodical needs for cash over a stretch of time. Alternatively, policy moneys can be so arranged to be made available at the time of one's retirement from service to be used for any specific purpose, such as for the purchase of a house or for other investments. Subject to certain conditions, loans are granted to policyholders for house building or for purchase of flats.


  7. Access to the Equity Market: A unit linked insurance policy is one in which the customer is provided with a life insurance cover and the premium paid is invested in either debt or equity products or a combination of the two.In other words, it enables the buyer to secure some protection for his family in the event of his untimely death and at the same time provides him an opportunity to earn a return on his premium paid.The advantage of ULIP is that since the investments are made for long periods, the chances of earning a decent return are high.Just as in the case of mutual funds, buyers who are risk averse can buy into debt schemes while those who have an appetite for risk can opt for balanced or equity schemes.

Who can buy a Life Insurance Policy ?

Any person who has attained majority and who can enter into a valid contract can take out a life insurance policy for himself and on those in whom he has insurable interest. Policies can also be taken out, subject to certain conditions, on the life of one's spouse or children. While underwriting proposals, factors such as the state of health of the life to be assured, the proponent's income and other relevant factors are considered by the Corporation.

Related Websites:

www.reliancelife.co.in