123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Insurance >> View Article

Life Insurance In India: Products

Profile Picture
By Author: Insurance Hub India
Total Articles: 3
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Life Insurance Products in India
1. Term Insurance:
• Term insurance is one of the most basic and essential forms of life insurance in India. It provides pure protection without any savings or investment component.
• Policyholders pay a premium in exchange for a specific sum assured, which is paid to the nominee in case of the insured's demise during the policy term.
• Term insurance plans are highly cost-effective and provide financial security to the insured's family in case of an unfortunate event.
2. Whole Life Insurance:
• Whole life insurance is a lifelong insurance policy that offers coverage until the policyholder's demise.
• It provides both a death benefit and a savings component, allowing the policyholder to accumulate wealth over time.
• Premiums for whole life insurance are typically higher than term insurance but offer long-term financial security.
3. Endowment Plans:
• Endowment plans combine insurance coverage with savings and investment components.
• Policyholders pay premiums, a portion of which is invested by the insurance company, ...
... while the rest provides life coverage.
• These plans provide a maturity benefit if the policyholder survives the policy term and a death benefit to the nominee in case of the insured's demise.
4. Unit-Linked Insurance Plans (ULIPs):
• ULIPs are a type of life insurance policy that combines insurance and investment.
• Policyholders have the flexibility to choose how their premiums are invested in various funds (equity, debt, or balanced) based on their risk tolerance.
• ULIPs provide market-linked returns and offer the opportunity to create wealth over the long term.
5. Money-Back Plans:
• Money-back plans provide periodic pay-outs during the policy term, which can help meet various financial milestones.
• Policyholders receive a portion of the sum assured at regular intervals, and the balance is paid as a lump sum or survival benefit at the end of the policy term.
• These plans offer both insurance coverage and liquidity.

Total Views: 204Word Count: 280See All articles From Author

Add Comment

Insurance Articles

1. Valuation, Rare Flutes And Collectors: How To Insure A High End Flute
Author: musicinstrumentsins

2. Why A Music Company In New York Has Become The First Choice For Modern Musicians
Author: Music Company

3. Importance Of Musicians Insurance For Independent Artists And Creators
Author: Clarion

4. Protect What Matters Most With Trusted Insurance Experts In Auckland
Author: Affordable Finance

5. Vintage And Collector Saxophones In America And The Need For Insurance
Author: Michel Jordan

6. The Rise Of Independent Woodwind Musicians And The Role Of Bassoon Insurance
Author: musicinstrumentsins

7. How Digital Claims And Online Policies Are Simplifying Brass Musical Insurance For Artists
Author: victor12johnson

8. From Tiktok To Global Stages The New Generation Of Viral Cellists
Author: micheljordan4

9. How Much Does An Oboe Really Cost? Understanding Its True Value
Author: musicinstrumentsins

10. How Technology Is Changing The Way Woodwind Instruments Are Played And Preserved
Author: victor12johnson

11. The Revival Of The Fiddle In Contemporary Country And Bluegrass Music
Author: micheljordan4

12. Piccolo In Pop, Jazz And Fusion: Why This “tiny” Instrument Is Getting Big Attention
Author: musicinstrumentsins

13. Why Insurance For Appraisers Is Important For Protecting Professional Liability?
Author: victor12johnson

14. How To Start Investing With Your First Salary
Author: Joffry Daniel

15. What Equipment And Risks Are Covered By Music Studio Insurance?
Author: micheljordan4

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: