Life Insurance - Best Life Insurance Plans & Policies in India 2020

1
What is Life Insurance?
2
Life Insurance - Meaning

• What is life insurance - Life Insurance can be
  defined as a contract between an insurance policy
  holder and an insurance company, where the
  insurer promises to pay a sum of money in
  exchange for a premium, upon the death of an
  insured person or after a set period. Here, at
  ICICI Prudential Life Insurance, you pay premiums
  for a specific term and in return, we provide you
  with a Life Cover. This Life Cover secures your
  loved ones future by paying a lump sum amount in
  case of an unfortunate event. In some policies,
  you are paid an amount called Maturity Benefit at
  the end of the policy term.

3
What is Pure Protection Plan?

• A Pure Protection plan is designed to secure your
  familys future by providing a lump sum amount,
  in your absence.

4
Pure Term Insurance Policy

• This is the simplest type of life insurance
  policy. It pays your family a sum of money in
  case of your death, during the policy term. It
  does not pay anything if you survive the policy
  term. However the premiums on this type of policy
  tend to be low. For instance a monthly premium of
  just Rs 1,000 can get you a life insurance cover
  of close to 1 crore rupees (for a 30 year old,
  non-smoker) for 40 years.