https://www.exidelife.in - Life insurance is an investment that primarily secures the life of the investor, also called the policyholder. It provides a sum assured to the nominee of the insured person, in the event of death of the insured. The life insurance company provides financial assistance and stability to the family of the insured, in case of an unfortunate event. Life insurance is important to protect your loved ones from difficult situations arising from your untimely death.

1. TYPES OF LIFE
INSURANCE
PLANS YOU MUST
KNOW!

2. Life insurance is an investment that primarily secures the life of the investor, also called the
policyholder. It provides a sum assured to the nominee of the insured person, in the event of
death of the insured. The life insurance company provides financial assistance and stability to
the family of the insured, in case of an unfortunate event. Life insurance is important to protect
your loved ones from difficult situations arising from your untimely death.

3. Life insurance products have evolved over a while
and now provide a range of investment
opportunities coupled with an inherent life
cover. They are designed and executed to
secure the long-term financial requirements of
the insured and his family along with
providing a life cover during the policy term.
Certain types of life insurance products in India
can be listed as follows:

4. Term
Insurance 01

5. Term insurance is the most conventional form of life insurance. It grants a life cover
of the insured up to a certain age and the sum shall be received by the family
members of the insured at the time of death.
The annual premium for a long-term plan is not very expensive and provides
security to the family members from any loss of income. Term plans now come with
features like the return of premium, wherein the sum assured along with the entire
premium paid is provided to the family of the life insured.
The premium of these policies having a feature of return of premium are slightly
higher than the regular term plans.

6. Endowment
plans 02

7. Endowment plans are long-term wealth creation ideas. An investor who wishes to
receive a fixed inflow of money after a certain age or time can invest in an
endowment policy.
These policies provide regular inflows of guaranteed tax-free money without any
risk associated with the market for a long period of time. These plans help the
investor plan for their retirement planning or events that may require a sum of
money at a large time like child education or marriage.
These plans also come with the option to receive a lump sum money at the end of
the policy term instead of regular inflows every month or year.

8. Unit Linked
Insurance Plan
(ULIPs) 03

9. As the name suggests, ULIPs are insurance plans that invest in marketable units or
funds like mutual funds. They involve a life cover till the policy is in force and
provide market-linked returns to the investors. ULIPs are tax-free in nature, have a
lock-in period of 5 years, and deliver returns in sync with the market.

10. Moneyback
plans 04

11. These plans provide a certain percentage of the sum assured to the insured during
the policy term, unlike other life insurance products that provide the guaranteed
amount after the end of the policy term. This helps in improving the liquidity
requirement of the investor.

12. Retirement or
pension plans 05

13. Pension plans are life insurance that provide a cover along with regular pensions to
the investor. These pensions are taxable in nature and help cover retirement
planning and a safe inflow of money.

14. Thank You