Insurance plans are a saviour and one should invest in life insurance wisely. - PowerPoint PPT Presentation

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Insurance plans are a saviour and one should invest in life insurance wisely.


Choose to check your EMI and eligibility before opting for any insurance plans in India. – PowerPoint PPT presentation

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Title: Insurance plans are a saviour and one should invest in life insurance wisely.

Insurance plans are a saviour and one should
invest in life insurance wisely.
What is life insurance
  • Life insurance is an investment plan that
    offers a sum of money either in the form of death
    benefits to the beneficiary or as the policy
    matures to the insured person.
  • In other definition, Life insurance policies
    are a protection cover from financial loss of
    premature death of the insured person. The named
    beneficiary receives the maturity amount as
    benefits for future financial aid.

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Types of Life Insurance
  • There are a number of life insurance plans
    available in India. A few are listed and
    carefully explained here
  • Term Life Insurance
  • Whole Life Policy
  • Endowment Plans
  • ULIP (Unit Linked Insurance Plans)
  • Money Back Policy

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Term Life Insurance
  • A Term Life Insurance is an investment plan that
    offers an assured sum as financial coverage to
    the policyholder after a certain set time period.
  • The insurance plan has three major beneficial
    features attached to it, i.e., Tax Benefits,
    Death Benefits and Maturity Benefits.
  • One can attach riders to term plans as an
    additional cover along with the promised maturity
    benefits as offered by the insured company.

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Whole Life Insurance Policy
  • A Whole Life Insurance Plan or policy is offered
    as a financial benefit to the family of the
    policyholder after the insureds demise in the
    form of corpus.
  • There is no pre-defined policy tenure in whole
    life insurance policy.
  • The main feature of the policy is that the
    policys validity is into defined hence the
    individual can avail life cover benefits
    throughout his life.
  • The insured person needs to pay regular premiums
    until death, upon which the corpus is paid out to
    the family.

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Endowment Plans
  • Endowment plans and term plans tend to work in a
    similar pattern although there is one critical
    difference between the two.
  • Unlike Term Plans, Endowment policy offers the
    sum assured in both scenarios, i.e, death as well
    as survival.
  • However, Endowment plans charge higher fees and
    are expensive comparatively.
  • Insured can avail profits from the equities and
    debts, as the premiums are invested in the same.

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Unit Linked Insurance Plan (ULIP)
  • ULIPs are considered as a variant of the
    traditional endowment policy.
  • The insured person can avail benefits on either
    death or maturity.
  • ULIPs are linked to markets.
  • The policyholder can choose the allocation of
    investment in stock or debt markets.

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Money Back Policies
  • A money back insurance plans offers periodic
    payments over the policy term.
  • A portion of the sum assured is paid out in
    regular frequencies or intervals.
  • On survival of the policyholder, the rest of the
    sum assured is delivered.
  • In case of death of the insured person, the
    beneficiary can claim the full sum assured.

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