Types Of Insurance

Well thee are many life insurance product available in market. Some of them let me explain 

Term Life Insurance

The most affordable form of life insurance, premiums of plan under this category are cheaper compared to other life insurance products.

The Sum Assured is paid out to the beneficiaries on the completion of the policy tenure

Whole Life Policy

The most affordable form of life insurance, premiums of plan under this category are cheaper compared to other life insurance products.

The Sum Assured is paid out to the beneficiaries on the completion of the policy tenure

Endowment Plan

One main difference that Endowment Plans offer from term plans is the Maturity Benefit.

This type of plan pays out sum assured along with profits under both scenarios - death & survival. The profits that are availed in such plans are the result of investment in equities & debt.

Money Back Policy

This type of policy gives out periodic payments over the policy term.

Incase of the death of the policy holder, the beneficiaries get the full sum assured and if the holder survives the policy term, he/she gets the balance amount (sum assured).