Life Insurance Introduction

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Life Insurance Introduction
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Introduction For Life Insurance
Life Insurance Introduction
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Life Insurance Introduction

• Life Insurance is the essential to good financial
  planning. On one hand, it safeguards your cash
  and also on the other, guarantees its growth,
  therefore providing you with full financial well
  being. Life Insurance can be described as an
  agreement between the policy proprietor and also
  the insurance firm, where the insurer for a
  consideration consents to pay an amount of cash
  upon the occurrence of the insured person's or
  individuals' death or other occasion, such as
  incurable illness, critical illness or maturation
  of the policy.

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The Different Types of Life Insurance Policies
Life Insurance Introduction

• Term Life Insurance
• Endowment plans
• Unit linked insurance plans (ULIP)
• Whole life policy
• Money back policy

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Term Life Insurance
Life Insurance Introduction

• Term plans are the most basic form of life
  insurance. They provide life cover with no
  savings / profits component. They are the most
  affordable form of life insurance as premiums are
  cheaper compared to other life insurance plans.

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Endowment plans
Life Insurance Introduction

• Endowment plans differ from term plans in one
  critical aspect i.e. maturity benefit. Unlike
  term plans which pay out the sum assured, along
  with profits, only in case of an eventuality over
  the policy term, endowment planspay out the sum
  assured under both scenarios death and
  survival.

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Unit linked insurance plans (ULIP)
Life Insurance Introduction

• ULIPs are a variant of the traditional endowment
  plan. They pay out the sum assured (or the
  investment portfolio if its higher) on
  death/maturity.

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Whole life policy
Life Insurance Introduction

• A whole life insurance policy covers a
  policyholder over his life. The main feature of a
  whole life policy is that the validity of the
  policy is not defined so the individual enjoys
  the life cover throughout his life.

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Money back policy
Life Insurance Introduction

• A money back policy is a variant of the endowment
  plan. It gives periodic payments over the policy
  term. To that end, a portion of the sum assured
  is paid out at regular intervals.k policy

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Life Insurance Introduction