Types of Life insurance products

1. LIFE INSURANCE
B.Ramakrishna Goud
PGD17009

2. WHAT IS LIFE INSURANCE ?
Life Insurance is an agreement between an
Insurance-Company and Policy-Holder
where the insurer agrees to pay a sum of
money (Sum Assured) upon the occurrence
of an event(DEATH)to the Insured or on
MATURITY of policy term

3. TYPES OF LIFE INSURANCE
Term Insurance Plan
Endowment Insurance Plan
Whole-life Insurance Plan
Money-Back Insurance plan
Joint-life Insurance Plan
Unit-Linked Insurance Plans

4. TERM LIFE INSURANCE
Only Death-Cover
Specified Term/Period
Low Premiums
Sum Assured is Pre-Agreed
No Surrender Value
 Based on Premium-Payment Method:
 Single-Premium
 Regular Premium
 Based on Increasing or Decreasing Amount of Premium-Payment:
 Level Term Insurance
 Decreasing Term Insurance
 Increasing Term Insurance

5. ENDOWMENT LIFE INSURANCE

6. WHOLE-LIFE INSURANCE PLAN
• Eligible Age between 15years -60years
• Only Death-Benefit
• Insurance Cover for Whole-Life of
insured
• Sum Assured+Bonus(if applicable) will
be paid to Beneficiary on Death of
insured

7. MONEY-BACK INSURANCE PLAN
• Savings & Insurance-Cover
• Percentage% of Sum Assured is returned at
Regular Intervals
• If Life assured Survives the specified term,
he/she will be paid remaining amount
• If Life assured Dies during the term then
Death Benefit is paid which is FULL SUM
ASSURED

8. JOINT-LIFE INSURANCE PLAN
• Life Cover for Two Lives
• The Sum-Assured is paid on Death of First
joint Policy-Holder or Incase of Death of
Survivor during the term
• No Further premiums have to be paid
after Death of First Policy-Holder
• Each Person will be Underwritten
separately
• Premium depends on the Age of Both the
Persons ,getting insured

9. UNIT-LINKED INSURANCE PLAN (ULIPS)
FEATURES:
Insurance-Protection
Investment
Income-Tax Benefits
PREMIUM DISTRIBUTION:
 Administrative Expenses
 Mortality charges
 Investment
The investments in ULIPS are termed as UNITS
NAV (Net Asset Value) refers to the value of each
UNIT of the Fund
LOCK-IN-PERIOD is 5 Years

10. THANK YOU