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Life Insurance

Life Insurance Basics

It is an agreement between two parties i.e. insured and insurer where in insurer agrees to indemnify insured in event of any contingency leading to death and injuries.

Types of Life Insurance

There are various types of life covers available to an individual depending upon the sole motive of insurance in order to meet contingencies. Below are types of life cover options available to an individual:

Term Life Protection Plan

Term life protects an individual from any contingency for a specific tenure and it is not hard on your pockets as well as premiums are very low. They offer maximum coverage and secure your family's future. They don't pay you anything back at the time of maturity if the person survives for the tenure of the whole policy which is the demerit linked with term plans.

Term Insurance Investment Plan

Term insurance investment plans serves dual person for an individual. It provides you life cover and helps your money to grow as it can be invested in various investment avenues. Investment avenues range from high risk to low risk depending upon your investment allocation.

Life Insurance Coverage

It is the sum assured to an individual in the event of any contingency. This coverage depends upon many factors like age of the insured, coverage of the policy and the policy opted by an individual. The risk group also decides the life coverage of an insurance policy.


 

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