Explore plan types
Understand protection, savings and linked options.
LIFE INSURANCE
A Brighter
Tomorrow for
the People You Love
Plan today for the people who count on you. Explore life cover that supports your family's financial needs and the future you want to build.
Financial security
For those who depend on you
Life-stage choices
For changing responsibilities
Explore your options
Compare benefits and commitments
Today
for their
tomorrow
Why choose MagikPolicy for life insurance?
Compare the commitment
Consider premiums alongside the benefits.
Clear conversations
Ask about terms before making a decision.
Helpful support
Get guidance for your next step.
PROTECTION WITH A PURPOSE
Think about the life
you want them to keep living.
Life insurance is a contract that provides specified benefits in exchange for premiums. A death benefit can help loved ones meet financial responsibilities when the insured person is no longer there.
Start with the practical picture: everyday expenses, outstanding loans, education goals and existing resources. Separate the need for family protection from any savings or investment goal.
CHOOSE BY PURPOSE
Different plans meet different needs
Term protection
Life cover for a defined period. Pure term plans generally do not provide a survival payout; check any return-of-premium option separately.
Endowment and money-back
Combine life protection with specified savings benefits. Compare payout dates and distinguish guaranteed amounts from non-guaranteed bonuses.
Unit-linked plans
Combine life cover with investment funds. Fund values can rise or fall; the policyholder bears investment risk. Review charges and exit conditions.
Whole-life cover
Designed for longer-term protection, up to the age or duration stated in the contract. Check premiums and the applicable benefit structure.
Child-focused plans
May combine protection with benefits timed around future goals. Check who is insured and what happens if that person dies.
Retirement and annuity options
Focus on later-life income. Compare payout choices, survivor benefits and access to your money before committing.
LOOK AT THE FULL COMMITMENT
Six questions to ask before choosing
What needs protecting?
List dependants, debts and essential goals. Review existing policies and savings before deciding how much additional cover to explore.
For how long?
Consider when your financial responsibilities may reduce. Compare the cover duration with the premium payment term.
Can I sustain the premiums?
Look beyond the first payment. Choose a commitment you can review against your household budget over time.
Which benefits are guaranteed?
Read the personalised benefit illustration. Keep contractual guarantees separate from projections, bonuses and market-linked outcomes.
What if my plans change?
Check surrender, withdrawal, paid-up and revival conditions. Leaving early can affect benefits and the amount you receive.
What must I disclose?
Answer proposal questions accurately, including health, occupation, habits and existing insurance. Ask the insurer to clarify anything uncertain.
ADDITIONAL COVER, SPECIFIC CONDITIONS
Understand what a rider adds
Benefits to explore
Depending on the product, riders may offer additional benefits for specified accidents, disability or critical illness, or waive future premiums after a qualifying event.
Details to confirm
Check the extra premium, definitions, exclusions, waiting or survival conditions and rider duration. A rider does not make every illness or event payable.
A THOUGHTFUL NEXT STEP
From your first question to your policy
- Share your priorities
Request a quotation conversation. Keep your age, financial responsibilities and existing cover details ready.
- Review the proposal
Compare benefits and complete the insurer's disclosures and any medical or document requirements.
- Keep your family informed
Check the issued policy, nomination, payment schedule and start date. Store the documents where they can be found.
HELP WHEN IT MATTERS
Make the claim process easier to navigate
Contact the insurer
The claimant should notify the insurer and request the relevant claim form and checklist. Requirements depend on the policy, benefit and circumstances.
Gather the documents
A death claim commonly requires policy details, a death certificate, claimant identification and bank details. Medical records or additional evidence may be requested. Keep copies and the claim reference.
CLARITY FOR YOUR DECISION
Your life insurance questions, answered
How is life insurance different from health insurance?
Life insurance pays the benefits specified for death or other insured events. Health insurance generally helps with eligible medical expenses. One does not automatically replace the other.
Does every life plan give money back at maturity?
No. Pure protection plans generally pay only for the insured event. Savings and other plans may have survival benefits, according to their terms.
Are ULIP returns guaranteed?
Investment returns in unit-linked funds depend on market performance. Illustrated values are not promises. Review fund risks, charges and the separate insurance benefits.
How long do I need to pay premiums?
The premium payment term can differ from the duration of cover. Confirm the payment schedule, due dates and consequences of missing a payment before applying.
What should my nominee know?
Tell them where the policy is stored, how to contact the insurer and where to find the claim checklist. Keep nomination and contact details current through the insurer.
Does requesting a quotation activate cover?
No. The form requests a conversation with MagikPolicy. Cover begins according to the policy issued by the insurer after its application requirements are met.
Start with the people who matter most.
Tell us a little about yourself to begin the conversation.
Benefits, eligibility, exclusions and claims depend on the insurer and policy terms. Review the policy wording and benefit illustration before buying. Investment risk in linked funds is borne by the policyholder. Consumer resources: IRDAI life insurance information.