| Term Insurance | -It is the most basic type of insurance. -It covers you for a specific period. -Your family gets a lump-sum amount in the case of your death. -If, however, you survive the term, no money will be paid to you or your family. |
| Whole Life Insurance | -It covers you for a lifetime. – Your family receives a certain sum of money after your death. -They will also be entitled to a bonus that often accrues on such amount. |
| Endowment Policy | -Like a term policy, it is also valid for a certain period. -A lump-sum amount will be paid to your family in the event of your death. -Unlike a term plan, you get the maturity proceeds after the term period. |
| Money-back Policy | -A certain percentage of the sum assured will be paid to you periodically throughout the term as survival benefit. -After the expiry of the term, you get the balance amount as maturity proceeds. -Your family gets the entire sum assured in case of death during the policy period. This is regardless of the survival benefit payments made. |
| Unit-linked Insurance Plans (ULIPs) | -Such products double up as investment tools. -A part of your premium goes towards your insurance cover. -The remaining amount is invested in Debt and Equity. -A lump-sum amount will be paid to your family in the event of your death. |
| Child Plan | -This ensures your child’s financial security. -In the event of your death, your child gets a lump-sum amount. -The insurer pays the premium amounts after your death. -Your child will continue to get a certain sum of money at specific intervals. |
| Pension Plans | -This helps build your retirement fund. -You can get a regular pension amount after retirement. -In the case of your death, your family can claim the sum assured. |
