Term Insurance
Pure protection cover, a high sum assured at a relatively lower premium, with no maturity payout if you outlive the term.
View plan detailsHomeLife Insurance
IRDAI IMF Reg. No. IMF09490920250842Term, ULIP, child & retirement plansGurugram office
Life insurance advice,built around your family
Your Solis advisor helps you explore term, ULIP, participating, child and retirement life insurance plans from our partner insurers, with the cover amount, premium structure and nominee details explained clearly before you decide.
Life insurance solutions
Types of life insurance plans
Every plan below is issued by our partner insurers. Your Solis advisor can help you understand which structure fits your situation.
ULIP (Unit Linked Plan)
Combines life cover with market-linked investment in funds you choose. Returns are not fixed and depend on fund performance.
View plan detailsParticipating / Endowment Plans
Protection plus a savings component, with bonuses declared by the insurer that may add to your policy's value over time.
View plan detailsChild Plans
Designed around a child's future milestones, education or other planned expenses, with payouts structured around key ages.
View plan detailsRetirement / Pension Plans
Builds a corpus over your working years, structured to provide a regular payout stream after you retire.
View plan detailsGuaranteed-Return Plans
Non-linked savings plans structured to give a defined maturity or income benefit, subject to policy terms and premiums paid.
View plan detailsWhat is life insurance?
Life insurance is a policy under which the insurer pays a sum assured to your nominee if you pass away during the policy term, in exchange for a periodic premium. Plans range from pure protection cover to plans that combine protection with savings or market-linked investment, each structured differently and issued on the terms set out in the policy document.
At a glance
Life insurance, in six facts
- What it covers
- A sum assured payable to your nominee on death during the policy term, as defined in your policy wording, some plan types add a maturity or survival benefit.
- Who it's for
- Anyone with financial dependants, a spouse, children, or parents, or anyone with a loan, business, or long-term goal they want protected against an untimely loss of income.
- Main plan types
- Term insurance, ULIPs, participating/endowment plans, child plans, and retirement/pension plans.
- Premium payment
- Insurers typically offer regular pay, limited pay, or single pay, the options available vary by plan and insurer.
- Nominee & claim
- You name a nominee at proposal stage; on a valid claim, the death benefit is paid as per the policy terms and insurer's claim process.
- What your Solis advisor does
- Walks you through cover adequacy, plan structure and the claim process for each option, and helps you choose a plan matched to your situation.
Figures and descriptions above are general, for context only. Exact terms, charges and benefits are set by each insurer and confirmed in your policy document.
Understanding the difference
Term insurance vs ULIP vs participating plans
This table shows how the three main structures are built, not which one performs better, the right fit depends on your goals, timeline and risk appetite.
| Structure | Term Insurance | ULIP | Participating / Endowment |
|---|---|---|---|
| Primary purpose | Pure protection, income replacement for your nominee | Protection combined with market-linked investment | Protection combined with a savings component |
| Maturity payout | None, if you outlive the policy term | Fund value at maturity, based on market performance | Sum assured plus any bonuses declared, as per policy terms |
| Investment risk | Not applicable, no investment component | Borne by the policyholder; fund value can rise or fall | Managed by the insurer; bonuses are not fixed in advance |
| Typical use case | Maximising cover for dependants at a given budget | For those comfortable with market-linked risk who also want life cover | For those who prefer an insurer-managed savings element |
| Charges & disclosures | Simpler charge structure, set out in the policy document | Fund management, mortality and administration charges disclosed in the fund fact sheet | Charges built into the premium structure, set out in the policy document |
A ULIP's returns are subject to market risk, see the ULIP disclosure near the bottom of this page before considering that option.
How to choose
How to choose the right life insurance plan
What are you protecting against?
Pure income replacement points toward term insurance; a savings goal alongside protection points toward ULIPs or participating plans.
How long do you need the cover for?
Match the policy term to your dependants' timeline, until children are financially independent, or a loan is repaid, for example.
What's your comfort with market-linked risk?
ULIPs carry investment risk borne by you; term and participating plans don't ask you to take on that risk directly.
Who are your dependants?
A spouse, children's education, ageing parents, or a co-signed loan all affect how much cover makes sense.
Is your nominee detail current?
An outdated nominee name or relationship can complicate a claim later, worth checking on any existing policy too.
Does the payment structure suit your income?
Regular, limited or single pay each affect your cash flow differently, your Solis advisor can walk through the options.
Cover adequacy
How much life cover do I need?
There's no single fixed figure. A sensible sum assured is usually sized around what your dependants would need to replace your income and clear major obligations.
- Your current annual income and expected income growth
- Outstanding loans, home, vehicle, or business
- Number and age of financial dependants
- Future goals, children's education, a spouse's retirement
How Solis Insurify helps
From your first question to a policy that fits
Share your situation
Your age, income, dependants and what you're looking to protect against.
Explore relevant plans
Your Solis advisor lays out suitable options from our partner insurers, with clear, professional guidance.
Choose, with the details explained
Cover amount, premium structure, nominee details and charges explained clearly before you decide.
Claim support for life insurance
Standing with your nominee when it matters most
A life insurance claim is usually handled by your nominee at a difficult time. Your Solis advisor can guide your nominee through the documentation and process with the insurer.
Death Claim, Nominee Process
- 1Inform the insurer and Solis Insurify, with the policy number on hand.
- 2Submit the claim form, death certificate and documents specified by the insurer.
- 3The insurer reviews the claim and settles it as per the policy terms.
Maturity & Survival Benefits
- 1The insurer typically reaches out as the policy approaches the benefit date.
- 2Confirm updated bank and KYC details ahead of the payout.
- 3The benefit is credited as per the policy terms; your advisor can help track the timeline.
Your Solis advisor helps your nominee understand which documents are needed and follows up through the process. Claim approval and the amount settled rest with the insurer, in line with your policy's terms and conditions.
Why Solis Insurify
Why choose Solis Insurify
Exceptional service and tailored solutions that meet your needs.
Client-Focused Approach
We put your needs first, providing personalised service and solutions tailored to your specific requirements.
Competitive Rates
We work with multiple insurers to secure the best coverage at the most competitive price available.
Dedicated Support
Our team of experts is available to provide guidance and assistance whenever you need it.
Simplified Claims
We make the claims process straightforward and efficient, so you receive prompt settlements.
Our office is in Sector 44, Gurugram, with in-person appointments available on request. Wherever you're based, your Solis advisor is reachable by phone, video call or WhatsApp.
What clients say
Real experiences, from real families
★★★★★
“I was looking for the right life insurance cover and Leena Ma'am was very helpful throughout the process. She understood my requirements, explained the options clearly, and was always available whenever I had a question.”
★★★★★
“My experience with Solis Insurify has been very positive. The guidance during my life insurance purchase was clear and practical. I especially appreciate their ongoing support after the policy purchase, including timely renewal reminders.”
Shared with client consent. Individual experiences vary by policy and circumstance.
Frequently asked
Life insurance questions people ask us
What is life insurance and how does it work?+
Life insurance is a policy under which you pay a premium and the insurer pays a sum assured to your nominee if you pass away during the policy term. Some plan types also offer a maturity or survival benefit if you outlive the term.
What's the difference between term insurance and a ULIP?+
Term insurance is pure protection, with no payout if you outlive the term. A ULIP combines life cover with market-linked investment, so its maturity value depends on fund performance and is subject to market risk.
How much life cover do I need?+
There's no single fixed figure. A sensible sum assured is generally sized around your income, outstanding loans, number of dependants and future goals like a child's education.
Are life insurance premiums and payouts eligible for tax benefits?+
Premiums may qualify for a deduction under Section 80C under the old tax regime, and payouts may be exempt under Section 10(10D), both subject to conditions set out in the Income Tax Act.
What documents are usually needed to raise a life insurance claim?+
Typically the claim form, original policy document, death certificate, and the nominee's identity and bank details. The exact list can vary by insurer and cause of death.
Can I add riders to a life insurance policy?+
Many insurers offer optional riders, such as critical illness or accidental benefit riders, usually at an additional cost. Availability and terms vary by insurer and base plan.
Who needs life insurance?+
Anyone with financial dependants, a loan, or a business obligation that would fall on someone else in their absence generally has a reason to consider life cover.
Is a ULIP's return guaranteed?+
No. A ULIP's premium is subject to investment risk, and the fund value can go up or down depending on market performance. Past performance is not indicative of future results.
Can I change my nominee after buying a policy?+
Yes. Most insurers allow you to update nominee details during the policy term. Keeping this current is worth checking after a major life change.
Explore further
Related insurance solutions
Important, Unit Linked Insurance Plans (ULIPs)
Unit Linked Insurance Plans are different from traditional life insurance products and are subject to market risk. The NAV of units may go up or down based on fund performance and factors influencing capital markets. Solis Insurify does not offer investment advice. Please read the sales brochure, fund fact sheets and policy wording carefully before purchasing a ULIP.
On tax treatment: Premiums may qualify for a deduction under Section 80C under the old tax regime, and payouts may be exempt under Section 10(10D), both subject to conditions. Please ask your Solis advisor or a tax professional to confirm what applies to your policy, as tax laws are subject to change.