What is life insurance?

Please read this to understand the importance of life insurance.

If your family needs you, you need life insurance.

”Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations”:

Replace Income For Dependents

If people depend on your income, life insurance can replace that income for them if you die (God Forbid). The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially.

Create A Source Of Savings

Life insurance creates a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings. Furthermore, the bonuses credited in your account are tax-free.

Create an Inheritance for Your Heirs

Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.

UN Believable returns

State Life Insurance invests its funds in a diversified manner that makes it a profitable organization. We have increased our bonuses almost every year. If you are interested in good returns then you can choose the endowment plan for a Term 20 Years.


The sum insured you select will participate in State Life’s Bonuses. Remember, 97.5% of State Life’s surplus is distributed by law to the policyholder in the form of Bonuses. The Bonuses shown here are declared based on actuarial valuation as of 31st December 2023.

Note: (Term 20 Year Plan)

  • 1-5 Years of Policy: 90% Plus (Of Premium)
  • 6-10 Years of Policy: 170% Plus (Of Premium)
  • 11-16 Years of Policy: 270% Plus (Of Premium)
  • 17-20 Years of Policy: 360% Plus (Of Premium)

Personal Loan Facility

State Life offers loan facilities on policies that have been in force for at least 2 years. We give an 80% loan of surrender value; you can borrow this loan for any personal or medical need. A medical loan is offered if the policy has been in force for 5 years this loan is interest-free.

Best Help At Retirement Age

Life insurance gives insurance on one end and helps you when you are retired, it pays you a lump sum amount that can be enough in old age. An Insurance policy is very necessary for businessmen or those who lack lacking provident fund facility in retirement.

Medical Loan (Interest-Free)

The following surgical procedures are covered, provided they were caused by disease and not traumatic injury:

  • Coronary artery bypass surgery
  • Surgery for a disease of the aorta
  • Replacement of a heart valve
  • Major organ transplant
  • Craniotomy
  • Cancer surgery

For more details, please refer to the State Life Insurance policies and terms.