Do you want to buy a life insurance policy, but are unsure which one would suit your needs?

Continue reading to find out which policy is right for you.

ARN No.: Comp-February-2022_405

Understanding different types of life insurance will help you choose the right one.

Types of Life Insurance Policy

#1. Endowment Plan

An endowment plan
Double Benefit of
Life Cover
(Death Benefit)
Savings (Maturity Benefit)

To know more,

A term plan gives payout(s) to the nominees in the event of the life assured's demise. 

#2. Term Insurance

Whole life insurance is a plan that covers the life assured for his entire life time.

#3. Whole Life Insurance

#4. Money Back Plans

Money Back Plan
Maturity Benefit
Survival Benefit/ Regular Payouts
Bonuses/ Guaranteed Additions
Life Cover

Double benefit of
Life Cover (Death benefit)
Wealth Creation (Market Linked Returns)

#5. Unit Linked Insurance Plans (ULIPs)

Payout(s) to secure the important milestones of a child’s life
Waiver of premium in case of parent(s) demise to ensure the payouts(s) are available without any future premiums.

#6. Child Plans

#7. Retirement Plans

Retirement plans
Lump sum and/or monthly income in the form of payouts to enjoy a worry-free retirement!

#8. Critical Illness Plans

It pays a lump sum when life insured is affected by a critical illness that can be used for:
• Medical treatment
• Post treatment nursing and
• As income during the affected period.

Have Queries in Mind?

Speak to our trusted financial experts and get your queries resolved.

ARN No.: Comp-February-2022_405