Life insurance, from origin to present, need, reason, benefits, type and other informative things, get here.

1. LIFE INSURANCELIFE INSURANCE
From origin to presentFrom origin to present

2. The story of insurance is probably as old as the
story of mankind.
Even name of Life Insurance Corporation of India's
corporate headquarters, is derived from the Rig
Veda.
Oriental Life Insurance Company, the first life
insurance company on Indian soil started
functioning in 1818.
After that “Bombay Mutual Assurance Society” was
formed in 1870.
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Know its HistoryKnow its History

3. Why you need life insurance?Why you need life insurance?
To ensure that your immediate family has some financial
support in the event of your demise
To finance your children’s education and other needs
To have a savings plan for the future so that you have a
constant source of income after retirement
To ensure that you have extra income when your earnings
are reduced due to serious illness or accident
To provide for other financial contingencies and life style
requirements

4. Protection
Liquidity
Tax Relief
Money when you need it
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5. How much you need this?How much you need this?
How much you need this is dependent on-
How many dependants you have
What kind of lifestyle you want to provide for
your family
How much you need for your children’s education
What your investment needs are.
What your affordability is.

6. Types of Life InsuranceTypes of Life Insurance
Four major types of non-variable life
insurance coverage are:
Term Life
Whole Life
Guarantee Universal Life
Index Universal Life

7. Term Life InsuranceTerm Life Insurance
Sum assured is payable only in the event of death
during the term.
In case of survival, the contract comes to an end at the
end of term.
Term Life Insurance can be for period as long as 40
years and as short as 1 year.
No refund of premium
Non-participating policies
Low premium as only death risk is covered.
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8. Permanent(Whole) Life InsurancePermanent(Whole) Life Insurance
Whole life plans are another type of endowment plan, which
cover death for an indefinite period.
When the policy holder dies, the face value of the policy,
known as a death benefit, is paid to the person or persons
named in the life insurance policy
It can be with or without profits.
If you cancel the policy after a certain amount of time has
passed, the insurance company will surrender the cash value
to you.

9. Guarantee Universal LifeGuarantee Universal Life
InsuranceInsurance
Guarantee Universal life (GUL) insurance policies provide a death
benefit as well as the opportunity to build policy cash value.
This coverage is different from term and whole life insurance because,
within policy limits, you can vary the amount and timing of your
premiums.
Typically, you can also increase or decrease your death benefit (based
on your insurability).
Your cash value in a GUL policy is determined by the amount of
premiums you pay, the declared interest crediting set by the insurance
company, and policy charges.
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10. Index Universal LifeIndex Universal Life
InsuranceInsurance
Index universal life (IUL) insurance includes the premium
flexibility and adjustable death benefit that typical UL
coverage provides.
IUL can provide the potential for greater policy value growth
than UL, with less risk to you than a Variable Universal Life
policy.
Insurers offering IUL policies credit interest at rates that are
linked to the percentage change of a selected index
With IUL, your policy value can be credited with higher
interest rates than whole life and UL policies typically provide.
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11. THANK YOU…THANK YOU…