You must have wondered what happens when you stop paying your life insurance premiums. Does the life insurance lapse right away, or do insurers offer some leniency? What happens if you don’t pay during the life insurance premium grace period as well? You often think about whether there will be a total loss of your coverage and death benefits to your beneficiaries, or some deductions for failed premiums, and if there will be any policy revival.

Life insurance is not only one of the most effective ways to secure a family’s financial future, but also a ray of hope when you are not around.  The Indian government has introduced a range of affordable life insurance schemes designed for people from every walk of society, particularly households with a lower income range. These Government life insurance schemes in India offer low premiums, all-encompassing coverage, and dependable support for millions of Indians.

What happens if you run out of money? This is a scary thought that often concerns retirees or those who are nearing retirement from their jobs. That the paychecks will stop and savings will gradually extinguish with no additional income is worrying indeed. But here’s a plan that can keep your savings intact while providing a steady source of income — an immediate annuity in life insurance.

Many people have trust issues with investment and insurance products, and adding to that, the investment brokers and the insurance agents. That’s obvious when many policies offer big promises but lesser benefits. Getting a realistic picture of how a life insurance policy or any other scheme will perform over a time period is essential. That’s where illustration in life insurance plays a role. It’s hypothetical, but a detailed projection of the potential performance of your life term policy.

Picture this: You shell out a hefty chunk of premium every year, probably for 25 to 30 years (depending on your policy term), often wondering, "If I survive the policy term, all this money I paid for these many years is lost". Back to reality: Now, you can swap that concern for a smile. Some term insurance plans return every penny you paid if you outlive the policy term. This insurance product is called Term Insurance with Return of Premium (TROP).

Riya and Akshat got married and promised each other a life filled with love, laughter, and abundant happiness. Both were young professionals with dreams of buying a home, starting a family, and building a secure future. They planned everything—from vacations to investments. But at the moment a financial advisor asked if they had a term insurance plan, they paused.