Type of Insurance Policies

Type of Insurance Policies
Term Plans
Pure Insurance Cover. No Maturity Value. Lowest Premiums. Like Vehicle Insurance
Anmol Jeevan (for SA Below 25 Lacs) Amulya Jeevan (For SA above 25 Lacs)

Endowment Plans
Payment of Sum Assured + Bonus either on Completion of Term or Death (if Earlier)

Money Back Plans
Payments at pre-specified intervals during the term of the Policy. Payment of Bonus (Interest) at the Completion of Term
On Death at any time during the tenure of Policy, Payment of Sum Assured alongwith accrued bonus without deduction of Payouts made
earlier

Children Plans
Basically of two types. For the Child (Which insures Father/Proposer) & of the Child (Which insures Child's Life).

Whole Life Plans
Maturity generally from 80 to 100 years of Age. Carries highest bonus rate. Payment term can be limited or upto Maturity.

Pension Plans
Plans which intends for creation of a Pension Fund. The term for which premiums is paid is called deferred date. The date on which pension
starts is called vesting date

ULIP
Share Market based plans

Combination Plans
Plans which are combination of 2 or more Products. For Example - Jeevan Anand