How to choose the best life insurance policy? - PowerPoint PPT Presentation


PPT – How to choose the best life insurance policy? PowerPoint presentation | free to download - id: 8943ce-MTgzN


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation

How to choose the best life insurance policy?


Read about how you can choose the best life insurance policy. Know about types of life insurance policies and also read how your life insurance premium is determined? Know more. – PowerPoint PPT presentation

Number of Views:13
Slides: 12
Provided by: ektakariya


Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: How to choose the best life insurance policy?

How to Choose The Best Life Insurance Policy?
  • Having a life insurance policy provides you with
    the much needed financial security in times of
    unfortunate death of the policyholder.

Benefits Of Life Insurance Policy
  • Protects your familys financial future
  • Provides financial help during medical emergency
  • Is an investment tool that helps you save money
    for your childs marriage, education and your
  • Helps in paying off loans and liabilities
  • Helps build retirement corpus
  • Helps you leave an inheritance

Types of Life Insurance Policies
  • Provides life insurance coverage to an individual
    till the age of 100 or as long as he survives.
  • Policyholder is required to pay premiums until
    death or till a specific period of time.
  • The nominee is paid the sum assured along with
    bonus on death of the insured.

Whole Life Insurance Policy
  • This type of insurance plan provides death
    benefit to the beneficiary only if the insured
    dies during the term of the policy.
  • It offers high coverage at low premium rates.
  • A pure protection plan does not provide any
    maturity benefit.

Term Insurance
  • It is a mix of savings and insurance that helps
    you build financial corpus while providing
  • In case of death of the policyholder, the benefit
    is paid to the nominee.
  • In case of survival, maturity benefits along with
    bonus (if any) is given.

Endowment Plan
  • This is a savings cum protection plan that
    provides a certain percentage of sum assured to
    the policyholder at regular intervals.
  • Pay-outs are generally at regular interval i.e.
    every 4 or 5 years.
  • Survival benefit is paid if the policyholder is
  • On death of the policyholder, the nominee
    receives the full sum assured along with bonuses
    (if any).

Money-back policy
  • Helps you build wealth for your childs education
    or marriage.
  • Protects your childs future in case of your
    unfortunate death

Child Plan
  • This type of plan provides you with a steady
    income flow post retirement.
  • Helps you build a healthy financially secure

Pension Plan
  • This is an investment cum insurance plan.
  • A part of the premium is invested while another
    part is used towards life insurance.
  • These plans provide market linked returns along
    with flexibilities on managing investments and

Unit Linked Plan
How to Calculate How Much Life Insurance You Need?
  • Decide whether or not you need life insurance
  • Firstly, determine whether or not you need life
  • If youre single and dont have any dependents,
    then you may not find the need to buy life
  • If youre married and have kids, then its
    advisable to buy life insurance
  • Estimate your familys living expenses

  • How much coverage do you need?
  • Depending on your income, your liabilities,
    assets, your income, your life goals like childs
    marriage and education, lifestyle, you can
    calculate the coverage you need.
  • Its a thumb rule to opt for a life insurance
    cover 15-20 times more than your income.

How is Life Insurance Premium Determined?
  • Your life insurance premium is determined by the
    following factors
  • Age
  • Gender
  • Health
  • Smoking Drinking Habits
  • Lifestyle
  • Family medical history

  • You can choose the best life insurance policy by
    keeping the above things in mind and also by
    choosing the best type of life insurance.
  • Recommended Read How to choose and buy the best
    life insurance policy in India?