The Indian arm forces are our pride. They risk their lives to protect every citizen of this country. A specifically designed life insurance plan can help fulfil their financial goals for their family if they are martyred. A regular life insurance policy may not offer adequate coverage for Armed forces personnel, special life insurance specifically designed to cater to their needs may fulfil the need. this insurance plan will be fulfil your needs and desire.
Various types of defence personnel life insurance is available but i would like to tell you about some Important plan
Air Force Life Insurance
The air force members’ life is always at immense risk. Considering this, insurance companies have developed special life insurances for them. They are offered various options such as term life insurance plan, endowment plan, child education fund, disability benefit, and wealth creation plan. like this type plan is available here.
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Navy Life Insurance
This plan is specially designed for Navy personnel. This plan provides financial coverage to the beneficiary in case the insured passes away. This plan also provides coverage for disabilities. Additionally, it provides coverage to the policyholder’s family in case of any war or a war-like situation.
Paramilitary Life Insurance Policy
This plan is for members of the Indian Paramilitary Force. This plan provides coverage for all wars and war-like situations. The plans are flexible, customizable, and available in different forms such as term life insurance, endowment, and wealth creation.
Term Insurance for Defense Personnel
Term insurance is probably the most simple and purest type of life insurance that is offered at affordable premium costs. A term life insurance plan provides financial coverage to the beneficiary of the policy in case of the policyholder’s death.
While regular term insurance plans can serve the common people well, they may not be sufficient to provide coverage for the high-risk lives of the defence people. Term plans for defence personnel are specially designed considering the high-risk factor of their life with coverage extended to wars and war-like situations.
Insurance Coverage Offered by Private Insurers compnay
life insurance plans for armed forces. Some of them have been listed below:
Aviva Suraksha
This policy is offered by Aviva India. This policy provides various options for military personnel such as investment, retirement, child protection, and wealth creation. It is designed to provide financial coverage to the family of the army personnel in case they die in any war or war-like situation. if you are not belong to military so that time this facility is not available for you.
Aviva India also provides retirement benefits for army personnel. If they buy an Aviva Income Suraksha plan, then they can get a guaranteed regular monthly payout. Policyholders can also change the monthly payouts as per needs. This policy also has tax benefits under sections 80C and 10(10D). this facility is available for all indian forcess
HDFC Life Shaurya
This policy is offered by the HDFC Life Insurance company. HDFC Life Shaurya plan is specially designed for military personnel and ex-servicemen. This long-term policy provides financial protection for the family of military personnel since their lives are at high risk. if you are not belong to specially to forces then this facility is not for you
Armed forces Personnel are eligible for this policy:
- Indian Army /Navy / Air Force /Indian Coast Members
- Paramilitary Organizations Members
- CRPF Members/CISF Members
- Special Frontier Force Members
- Border Security Force /Indo-Tibetian Border Police Members
- Sashastra Seema Bal Members
- Railway Protection Force Members
- National Security Guards Members
- Reserve Police Forces /State Police Forces Members
- Fire Services Members
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