Life Insurance

Life Insurance FAQs

What is the importance of Life Insurance?

It is important as

It allows systematic long term savings which are low in nature but grow compoundingly
Can be used for transferring wealth though estate planning
To give adequate cover to key executives of the business, for its continuity
Short term death benefit
To substitute loss of income source in case of death
Help supplement retirement income in case there is no other retirement coverage

Are there any advantages in buying insurance at an early age?

Yes. The premium that you pay on your insurance policy is mainly dependant upon two things - your age and the tenure of the policy. The younger you are, the lower is your insurance premium amount. At younger age, you would be physically sound and may not be suffering from illnesses / medical. This would entitle you to a lower premium on the policy. Therefore it is advisable to buy insurance at an early age to reduce the cost of insurance.

I know I need life insurance, but cannot afford the coverage I need. Can I do anything to lower the cost?

How is annuity different from insurance?

Annuities differ from all other forms of life insurance in one fundamental way - They do not provide any insurance cover but offer a guaranteed income for a certain period or for life. Typically annuities are bought to generate income during one's retired life, which is why they are also called Pension Plans.

Annuities are an investment that offers you an income that you cannot outlive and provides a solution to the biggest financial insecurity of old age that you will outlive your income.

If I decide to take out life cover will I need to go for a medical?

What is face amount?

What is cash surrender value?

What is surrender charge?

What is partial withdrawal?

Can I take a policy loan?

If the policy has a surrender value you can avail of a policy loan up to 90% of the surrender value subject to minimum availability of Rs. 3,000. The policy loan can be taken for regular as well as single premium policies, any time after completion of two policy years. However, please note that no policy loan is available in case of term policies, Flexi Retirement Pension Plan, Flexi Single Premium Bond and ClassicLife Plan.

Is change in mode of premium payment allowed?

What is a rider?

Disclaimer

Deutsche Bank AG, India (“Deutsche Bank”) is a licensed corporate agent of *Aditya Birla Sun Life Insurance Company Limited, Niva Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company, Tata AIG General Insurance Company Limited and HDFC ERGO General Insurance Company Limited under the composite license number CA0020.

Insurance products are obligations only of the Insurance company. All insurance products are underwritten by the respective insurance company and are subject to the terms and conditions of the relevant policy issued by that insurance company. They are neither bank deposits nor constitute obligations of or guaranteed by Deutsche Bank or any of its affiliates or subsidiaries or any governmental agency. This communication shall not be construed as investment advice and all decisions to purchase the policy shall be the personal judgement of the customer arrived at after due consideration. All claims under the policy will be solely decided upon by the Insurance Company. The tax benefits on your Policy would be as per the prevailing provisions of the Income Tax Act, 1961 and Income Tax Rules, 1962, as may be amended, modified, or substituted from time to time.

This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. Neither this document nor anything contained herein shall form the basis of any contract or commitment whatsoever. You should take all relevant factors including independent expert advice into account before making any investment or other decision by using the content of this publication.

Deutsche Bank does not guarantee or make any representation, express or implied, with respect to the fairness, correctness, accuracy, adequacy, reasonableness, reliability, usefulness, viability or fitness for any particular purpose or completeness of any information in this email and is not responsible for any errors or omissions or for results obtained from the use of such information. Deutsche Bank also disclaims all liability in respect of use of any third-party information or offering, whether proprietary or otherwise. Deutsche Bank is only an agent and not an advisor in offering the insurance products. All insurance products are underwritten by the respective insurance company and are subject to the terms of the relevant policy issued by that insurance company. You are requested to familiarize yourself with the terms and conditions of each individual policy to make well-informed investment decisions. Deutsche Bank hold no warranty and do not make any representation about the insurance, the quality of claims processing and shall not be responsible for claims, recovery of claims, or for processing of or clearing of claims, in any manner whatsoever.

Insurance is a subject matter of solicitation. The premium paid in unit linked life insurance policies are subject to market and investment risks. NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital and money markets. Yield or a fund’s past performance should not be considered as an indication or guarantee of future yield or results. There is no assurance or guarantee that the objectives of the products will be achieved, and the insured is responsible for his or her decision to invest. The customers are advised to please refer to the respective product brochures and sales illustrations for details of each product and risk factors before concluding any sale. Participation by the bank's customers in an insurance product is purely on a voluntary basis.

Deutsche Bank hereby confirm that the insurance is offered as an ancillary product along with its other existing products. Deutsche Bank further states that none of it’s employees have compelled the customer to necessarily buy the insurance product through Deutsche Bank and neither customer are forced to buy insurance through Deutsche Bank only.

*Deutsche Bank AG is a Licensed Corporate Agent (License no. CA0020) of Aditya Birla Sun Life Insurance Company Limited, Registered Office: One World Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Toll Free No. 1-800-270-7000 Website: www.adityabirlasunlifeinsurance.com IRDAI Reg No.109 CIN: U99999MH2000PLC128110. Aditya Birla Sun Life Insurance and plans offered are only the names of the company and policy respectively and do not in any way indicate their quality, future prospects or returns. The name of the funds offered in this plan does not in any indicate their quality, future prospects or returns.

Deutsche Bank AG is a Licensed Corporate Agent (License no. CA0020) of Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration No. 145). Registered office: C-98, First Floor, Lajpat Nagar, Part 1, New Delhi-110024; CIN NO. U66000DL2008PLC182918. Website: www.nivabupa.com. Fax: + 91 11 41743397. Customer Helpline No.: 1860-500- 8888. For more details on terms and conditions, exclusions, risk factors, waiting period & benefits, please read sales brochure carefully before concluding a sale.

Deutsche Bank AG is a Licensed Corporate Agent (License no. CA0020) of Aditya Birla Health Insurance Co. Limited., IRDAI Reg.153, CIN No. U66000MH2015PLC263677. Address: One World Centre, Tower 1, 9th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Website: adityabirlahealthinsurance.com, Email: care.healthinsurance@adityabirlacapital.com, Telephone: 18002707000, Fax: +91 2262257700. For more details on risk factors, terms and conditions please read terms and conditions carefully before concluding a sale. Trademark / Logo Aditya Birla Capital is owned by Aditya Birla Management Corporation Private Limited and Trademark / Logo Health Returns TM, Healthy Heart Score and Active Dayz are owned by MMI Group Limited. These Trademark / Logos are being used by Aditya Birla Health Insurance Co. Limited under licensed user agreement(s). Deutsche Bank AG does not underwrite the risk or act as the Insurer.

Deutsche Bank AG is a Licensed Corporate Agent (License no. CA0020) of HDFC ERGO General Insurance Company Limited. IRDAI Reg No: 146, CIN: U66030MH2007PLC177117. Reg Office: 1st Floor, HDFC House, Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai - 400020. Phone: 1800-2666-400, 022-6234-6234, email: care@hdfcergo.com. The Contract of insurance is between HDFC ERGO and the Insured only and Deutsche Bank is not a party to the said contract. Participation by customer to buy insurance policy is purely voluntary. For more details on coverage, terms and conditions, please read the sales brochure carefully before concluding a sale.

Deutsche Bank AG is a Licensed Corporate Agent (License no. CA0020) of Tata AIG General Insurance Company Limited (IRDA of India Registration no. 108 CIN: U85110MH2000PLC128425), Registered Office: Peninsula Business Park, Tower A, 15th Floor, G.K.Marg, Lower Parel, Mumbai - 400 013, Maharashtra, India. The insurance products are underwritten by Tata AIG General Insurance Company Limited. The benefits and features of the products and services are purely indicative in nature. The purchase of a Tata AIG General Insurance Company Limited product by Deutsche Bank customers is purely on a voluntary basis. For clarifications, customers can call on 1800 266 7780 or write to customersupport@tataaig.com.

This information is given by Deutsche Bank AG whose registered office is at Frankfurt.

IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call number.