What is Life Insurance Policy

Let’s find out how you can protect your family’s future and ensure they remain financially secure, no matter what happens.

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Types of Life Insurance

Life insurance will care for your family's welfare if you are no longer in a position to provide them with your care. Knowing the different types makes the task of choosing the right plan for your needs a little easier. Here are the basic forms of life insurance:

Term Insurance

Term insurance is referred to as a "pure protection plan." It is the most basic type of life insurance and provides a death benefit if the policyholder dies before the end of the policy term. This gives an amount of financial security to the family and loved ones but does not come with a maturity benefit in case the policyholder survives the term.

Whole Life Insurance

This policy is always in force during the lifetime of the policyholder, and the term is usually until 100 years. When the policyholder dies within the term of the policy, the insurer pays a sum assured to the nominee. If the policyholder survives until 100 years, the insurer pays the maturity benefit to the policyholder.

Retirement Plan (Pension Plan)

It is a savings and life insurance plan that provides financial security during old age through a steady income. This enables policyholders to enjoy an independent and secure retirement.

Child Protection Plan

This is life insurance and investment combined into a product that guarantees various stages of a child's future. It provides a sum amount at the end of the policy term that can be used for education, marriage, or any other significant milestone.

Endowment Life Insurance

Savings plans combine saving and life insurance. A policyholder regularly saves money to receive a lump sum at the maturity of the policy. If the policyholder dies within the term, the insurer provides the sum assured to the beneficiary as a death benefit.

ULIP (Unit-Linked Insurance Plan)

It is a life insurance product that has an investment component also. The premium paid by the policyholder is invested in market-linked funds such as equities, bonds, or mutual funds. ULIPs are flexible and transparent and can be customized according to individual needs and goals.

Types of Life Insurance

Life insurance will care for your family's welfare if you are no longer in a position to provide them with your care. Knowing the different types makes the task of choosing the right plan for your needs a little easier. Here are the basic forms of life insurance:

Term Insurance

Term insurance is referred to as a "pure protection plan." It is the most basic type of life insurance and provides a death benefit if the policyholder dies before the end of the policy term. This gives an amount of financial security to the family and loved ones but does not come with a maturity benefit in case the policyholder survives the term.

Whole Life Insurance

This policy is always in force during the lifetime of the policyholder, and the term is usually until 100 years. When the policyholder dies within the term of the policy, the insurer pays a sum assured to the nominee. If the policyholder survives until 100 years, the insurer pays the maturity benefit to the policyholder.

Retirement Plan (Pension Plan)

It is a savings and life insurance plan that provides financial security during old age through a steady income. This enables policyholders to enjoy an independent and secure retirement.

Child Protection Plan

This is life insurance and investment combined into a product that guarantees various stages of a child's future. It provides a sum amount at the end of the policy term that can be used for education, marriage, or any other significant milestone.

Endowment Life Insurance

Savings plans combine saving and life insurance. A policyholder regularly saves money to receive a lump sum at the maturity of the policy. If the policyholder dies within the term, the insurer provides the sum assured to the beneficiary as a death benefit.

ULIP (Unit-Linked Insurance Plan)

It is a life insurance product that has an investment component also. The premium paid by the policyholder is invested in market-linked funds such as equities, bonds, or mutual funds. ULIPs are flexible and transparent and can be customized according to individual needs and goals.

Types of Life Insurance

Life insurance will care for your family's welfare if you are no longer in a position to provide them with your care. Knowing the different types makes the task of choosing the right plan for your needs a little easier. Here are the basic forms of life insurance:

Term Insurance

Term insurance is referred to as a "pure protection plan." It is the most basic type of life insurance and provides a death benefit if the policyholder dies before the end of the policy term. This gives an amount of financial security to the family and loved ones but does not come with a maturity benefit in case the policyholder survives the term.

Whole Life Insurance

This policy is always in force during the lifetime of the policyholder, and the term is usually until 100 years. When the policyholder dies within the term of the policy, the insurer pays a sum assured to the nominee. If the policyholder survives until 100 years, the insurer pays the maturity benefit to the policyholder.

Retirement Plan (Pension Plan)

It is a savings and life insurance plan that provides financial security during old age through a steady income. This enables policyholders to enjoy an independent and secure retirement.

Child Protection Plan

This is life insurance and investment combined into a product that guarantees various stages of a child's future. It provides a sum amount at the end of the policy term that can be used for education, marriage, or any other significant milestone.

Endowment Life Insurance

Savings plans combine saving and life insurance. A policyholder regularly saves money to receive a lump sum at the maturity of the policy. If the policyholder dies within the term, the insurer provides the sum assured to the beneficiary as a death benefit.

ULIP (Unit-Linked Insurance Plan)

It is a life insurance product that has an investment component also. The premium paid by the policyholder is invested in market-linked funds such as equities, bonds, or mutual funds. ULIPs are flexible and transparent and can be customized according to individual needs and goals.

FAQ

Insurance Terminologies

Premium

The amount you pay regularly to keep your insurance active. (वह राशि जो आप अपने बीमा को सक्रिय रखने के लिए नियमित रूप से देते हैं।)

Premium

The amount you pay regularly to keep your insurance active. (वह राशि जो आप अपने बीमा को सक्रिय रखने के लिए नियमित रूप से देते हैं।)

Premium

The amount you pay regularly to keep your insurance active. (वह राशि जो आप अपने बीमा को सक्रिय रखने के लिए नियमित रूप से देते हैं।)

Claim

Claim

Claim

Deductible

Deductible

Deductible

No Claim Bonus (N.C.B.)

No Claim Bonus (N.C.B.)

No Claim Bonus (N.C.B.)

Policy

Policy

Policy

Coverage

Coverage

Coverage

Understand Life Insurance Policy in a call

Imagine life insurance as a promise that your family will have financial support if you’re suddenly not there to provide for them. It’s about ensuring that your loved ones aren’t burdened by debts or living costs and can maintain their lifestyle even in tough times.

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