Life Insurance Advisory
Life insurance advice — cover amount, policy type, riders, nominee and claim-readiness, compared across insurers on terms not just price.
- Estimate Cost
- ₹2,000 – ₹15,000
- Typical duration
- 3 days
Service overview
Life insurance advisory helps you choose the right life cover to protect your family's financial future and meet long-term goals. WCP professionals cover term, whole life, endowment, money-back, child and retirement plans, along with riders and nominee planning.
Who needs it? / When is it needed?
- Earning members with dependants or loans.
- Parents planning a child's education or marriage.
- Individuals planning retirement income.
- When you marry, have a child, buy a home or change income.
What to expect from the WCP Professionals
- Needs analysis based on income, liabilities, goals and existing cover.
- Unbiased comparison of plans, returns, riders and insurer claim settlement ratios.
- Review of existing policies, including surrender value and continuation advice.
- Help with proposal forms, medicals, nominee and MWPA options.
Key deliverables
- Life cover requirement calculation.
- Plan comparison and recommendation report.
- Issued policy with a benefit summary.
Standard turnaround time
- Advisory and comparison: 3–5 working days.
- Policy issuance: 1–4 weeks, depending on medical tests and underwriting.
Government fees, timelines & key outcomes
- No government fee.
- Individual life insurance premiums are exempt from GST from 22 September 2025.
- Premiums may qualify under Section 80C (old tax regime), and maturity benefits may be exempt subject to conditions.
- Key outcome: adequate protection and goal-linked savings for your family.
Forms & filings involved
- Insurer proposal form with health and lifestyle declarations.
- Medical examination forms.
- Nominee or MWPA declaration.
Documents required
- PAN, Aadhaar, age proof and photographs.
- Income proof (ITR or salary slips).
- Medical reports, if any.
- Existing policy copies for review.
What we need from you
- Honest disclosure of health, habits and income.
- Attending medical tests when required.
- Regular premium payment.
Important conditions
- Non-disclosure can lead to claim rejection.
- Surrendering early usually results in lower returns.
- Returns on traditional and market-linked plans are not guaranteed unless stated.
Additional information
- Most life policies have a free-look period to return the policy if it does not suit you.
- Lapsed policies can usually be revived within the period the policy allows.
- Related services: Term & Whole Life Policy Planning, ULIP Advisory.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
How much life insurance do I need?
Enough to replace your income for dependants and repay debts — commonly 10–15 times annual income.
What is the claim settlement ratio?
The share of death claims an insurer settles in a year; it is one useful signal of reliability.
Are life insurance premiums taxed?
From 22 September 2025, individual life insurance premiums are exempt from GST.
Why is full disclosure important?
Non-disclosure of health or habits can lead to claim rejection, so answers on the proposal form must be accurate.