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What is Life Insurance Policy?

Description

The ultimate purpose of buying any of the types of life insurance plans in India is to provide life cover to you and financial protection to your family members. To make sure that you have the best possible insurance coverage, you can first calculate premium for term insurance using term plan calculator.

 

When you calculate premium for term insurance, you get a overview of what you insurance plan looks like, what customization or add-on options are available, as well as realize your affordability – all of this helps you invest in the best types of life insurance policies, be it whole life insurance or term insurance, to name a few.

While you calculate premium for term insurance, you just need to follow a few easy steps, and you get an understanding about what premium you need to pay, then you can compare plans, and choose the best one.

With insurance policy in India adorning your portfolio, you can ensure that your family members receive the sum assured as defined under the policy terms.

 

Choose the Best Life Insurance Policy in India for Adequate Coverage

Choosing one of the types of life insurance policies in India is not easy. It is because the decision forces you to think about the unfortunate events that may occur in your life. Then, there is a financial aspect of investing in various types of life insurance plans.

You might have assumed you need to choose a life insurance policy in India from the array of available variants. However, the decision of the insurance policy must depend upon how much life cover you need. 

For instance, if you want to ensure financial security of your family in your absence, then you need to purchase a term insurance policy, after carefully evaluating the financial needs and various factors relating to the insurance policy . 

 

 

A. Following are the different types of life insurance policies that are available in India:

• Term Insurance
• Term insurance with return of premium
• Unit Linked Insurance Plans
• Endowment plans
• Moneyback policy
• Whole life insurance
• Group life insurance
• Child Insurance Plans
• Retirement Plans