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Life Insurance In India

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Life Insurance plans offer savings and protection to you and your family. Choose wide range of life insurance plans such as term plans, child plans & retirement plans. – PowerPoint PPT presentation

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Title: Life Insurance In India


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Life Insurance In India
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Life Insurance Plans in India
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  • Various Types of Life Insurance Plans
  • Life insurance policy offer guaranteed protection
    in the form of financial assistance to the
    policy-holder. These insurance plans offers
    protection to the insurers family as well in
    case of any unforeseen incident There are various
    types of insurance plans, each catering to
    different needs and risk profiles
  • Traditional Life Insurance Plans Traditional
    life insurance plans, also referred as
    conventional plans, offer guaranteed sum at the
    time of maturity along with bonuses, which
    depends on the plan one has opted. The investment
    is done in low risk return. However, one cannot
    choose the investment avenue the investment here
    is solely at the discretion and the strategies of
    the company. The partial withdrawal of ones fund
    is also not allowed although in some of the
    plans you get the facility to take a loan against
    your investment.
  • Group Life Insurance Plans In this, a group of
    people are covered under a single insurance plan.
    It is common amongst a group of employees or
    members of union. Here, usually an employer or
    company adds other employees under a sample
    policy.

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  • Every policyholder is provided with a legal
    certificate which acts as an evidence of their
    insurance.
  • Endowment Life Insurance Plans In this kind of
    insurance plans, the insurer pays the periodic
    premiums which are invested as per the insurance
    companys judgment. Customers usually get
    bonuses, depending on the performance of the
    funds. At the end of the policy term, the
    investor receives back the guaranteed maturity
    amount which is accompanied by bonuses and other
    benefits. In case of the policy holders death,
    the assured sum is paid to the beneficiary.
  • Money Back Life Insurance Policy In this type of
    insurance plan, the policy-holder receives a
    portion of the assured sum at regular intervals
    based on the plan chosen by him/her. This is
    often referred as the partial survival benefits.
    If in case the policyholder dies during the
    policy term, the entire insured corpus is given
    to the beneficiary, without deduction of the
    amount already paid back. If the insurer survives
    the policy term, he/she gets the remaining sum.

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  • Term Life Insurance Plans A low cost insurance,
    Term Life Insurance Plan allows the customer to
    secure corpus for his/her family after his death
    or in case of any unfortunate event. In this kind
    of insurance plans, the customer and the company
    go into a contract where the company, in case of
    insurers demise, pays the deposited amount to
    the beneficiary, after a certain period of time.
    The period can vary from 5 to 30 years. The
    premiums are quite low here.
  • Unit Linked Insurance Plans (ULIPs) In ULIPs,
    the investment is done as per insurers financial
    commitment, risk appetite and preferences. The
    investment done is subjected to various market
    risks, which are to be borne by the policyholder.
    There is also the option to invest a portion of
    the premiums in various funds such as equity,
    debt, money market or hybrid fund. This plan also
    provides the flexibility to change ones
    investment strategy . the policy-holder can
    redeem the collected units at time of maturity,
    at the then prevailing prices. Some plans also
    offer additional units or other benefits, either
    at the time of maturity or annually.

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  • Annuities and Pension Plans In this insurance
    plan, the annuitant pays a certain amount for a
    decided period of time via periodic premiums. At
    the time of maturity, he/she receives the Life
    Insurance In India amount as the form of pension,
    which can be received either as a large corpus
    annually or as monthly payment. It also serves as
    protection from various kinds of financial risks.

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