Secure your family's financial future with comprehensive life insurance coverage
Life insurance provides financial security to your loved ones in your absence. Catalyst Financial Services offers a wide range of life insurance plans from leading insurance companies to help you choose the best coverage for your family's needs.
Pure protection plan with high coverage at low premium. Ideal for young families and breadwinners.
Combination of insurance and savings. Get maturity benefits along with life cover.
Unit Linked Insurance Plans combine insurance with investment in equity/debt funds.
Build retirement corpus and get regular pension after retirement.
Section 80C: Premium paid up to ₹1.5 lakhs per year is tax deductible
Section 10(10D): Maturity and death benefits are tax-free
Find answers to common queries about sum assured targets, term vs. endowment, and tax exemptions in Udaipur
A: As a general rule of thumb, you should aim for a term insurance sum assured that is at least 10 to 15 times your annual income. You should also add the value of any outstanding liabilities, such as home loans, personal loans, or business loans in Udaipur, to ensure your family can repay debts in your absence.
A: Term insurance is a pure protection policy with zero survival benefit. If you survive the policy term, you receive nothing, which allows premiums to remain extremely low for high coverage (e.g., ₹1 Crore). Endowment plans combine life insurance with savings, providing maturity payouts and accrued bonuses if you survive the tenure, though at a higher premium.
A: Life insurance premiums are eligible for tax deduction up to ₹1.5 Lakhs per year under Section 80C of the Income Tax Act. Furthermore, the death benefit paid to nominees or maturity proceeds received are 100% tax-free under Section 10(10D), subject to government guidelines.
A: Riders are optional add-on covers that enhance your base policy for a minor fee. Highly recommended riders include Critical Illness Rider (provides a lump sum if diagnosed with specified critical conditions), Accidental Death Benefit Rider (additional sum paid if death occurs due to an accident), and Waiver of Premium Rider (future premiums are waived if you become permanently disabled).
A: In the event of a claim, the nominee must submit the claim forms along with the death certificate, original policy documents, and KYC proofs. Our dedicated team in Udaipur will handle the coordination with the insurance company to ensure a smooth, prompt, and stress-free settlement for your family.