5 Types of Life Insurance Policy
Term Life Insurance:Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period
Whole Life Policy: The policyholder pays regular premiums until his death, upon which the corpus is paid out to the family.
Endowment Plans: Endowment plans pay out the sum assured under both scenarios – death and survival
Unit Linked Insurance Plans: ULIP is a life insurance product, which provides risk cover for the policy holder along with investment options to invest in any number of qualified investments.
Money Back Policy: Money back plan is a life insurance product as well as an investment plan which provides life insurance cover against death of the policy holder along with periodic returns as a percentage of sum assured.