Insurance
Life insurance is a must to shield your family’s future from any untoward events. It helps you to plan your future in such a way that your family is protected against any financial crisis.
There are many types of policies of life insurance in India. Here are a few of them:
Term Plans – Term plans are pure protection plans. It is a pure risk policy where nominee is paid the sum insured amount only in case of death of the policy holder during the term of the policy. Term Plans have the lowest premium and are the most affordable of all life insurance plans.
Endowment Plans – These plans provide life cover for a specified period. At the end of this period, the policy holder gets back the sum assured along with accumulated bonus.
Money Back Plans – These plans gives a certain amount of Sum Assured back to the policy holder on specified intervals. These life insurance plans can be used as Savings Plan to plan for your long term goals like your child’s education or marriage.
Unit Linked Insurance Plans – Unit Linked Insurance Plans or ULIPs as they are more popularly known, gives you the benefit of protection and wealth creations. In ULIPs, some part of your premium in invested in equities and/or bonds as chosen by you while the remaining premium is used to provide for mortality charges and fund management expenses. The Sum Assured or Net Asset Value of investment, whichever is higher, is paid on case of death.
You can find quotes for life insurance online with the help of Premium Calculator on www.angelsecurelife.com
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