A Participating Policy Is An Insurance Contract That Pays Dividends To The Policy Holder. Dividends Are Generated From The Profits Of The Insurance Company That Sold The Policy And Are Typically Paid Out On An Annual Basis Over The Life Of The Policy
LIFE INSURANCE!
The most cherished wealth in someone’s life is their family. One can go to various lengths for their
family’s happiness and security. For the same reason, their financial security should be intact even in your
absence.
This is where life insurance comes into picture. It is a cushion for your family that will protect them in
case of your unfortunate demise. It will act as an income replacement so that their lifestyle remains intact
even after you.
There are two main types of Life Insurance Plans:
- Term Insurance
- Investment Plans
What Are Investment Plans?
We Are Here To Provide A Safe And Secure Medium To Compare Investment Plans
At Different Stages Of Life, We Need Funds Whether It Is For Child’s Education, Child’s Marriage, And
Retirement Or Emergency Situations.
Investment Plans Are Such Plans Which Focus On Securing Your Future. They Are Simple Ways To Build Wealth
Over Time. In Layman’s Terms, Investment Plans Are Plans Where Your Money Grows While You Sit Back. Besides
Being A Great Option For Saving For Future, It Is The Best Method For Increasing Wealth.
It Can Not Only Help You Create A Lump Sum Of Money But Also Provide A Security Cover That You Need.
Life Insurance Companies Offer Various Investment Plan Or Wealth Creation Products Options To Choose From
Securely Plan Your Next Investment For
- Dream Home
- Child’s Education
- Child’s Marriage
- Retirement
- Wealth Accumulation
- Tax Savings
Benefits Of Investment Plans
- Wealth Creation
Investment Plans With Life Insurance Can Accumulate Wealth Over A Period Of Time. One Can Choose The Plan That Suits Their Individual Need Based On Risks, Returns And Disposal Amount. In The Future, When There Is A Need For Funds, Investment Plans Can Provide You A Lump Sum Amount.
- Financial Protection
Life Insurance Policy With Investment Plan Options Provides Financial Aid To The Family As Well As Survival And Death Benefits. At The Time Of Maturity, The Policy Holder Receives The Returns With Profit Which Provides Long-Term Financial Security To The Family. While An Unfortunate Incident Of Policy Holder’s Death Occurs Before Maturity, The Sum Assured Is Paid To The Nominee. And This Provides Financial Protection To The Family.
- Small Investment
Investment Plans Help In Achieving Bigger Financial Goals While Investing Small Amounts Of Money Over A Period Of Time.
- Death Risk Coverage
Investment Plans By Life Insurance Offer Death Risk Coverage. This Way The Needs Of The Family Are Taken Care Of Even In The Absence Of The Policy Holder.
- Retirement Savings
Investment Plans Help Create Funds For Retirement. One Can Build Funds That Can Be Used At A Later Stage In Life.
TYPE OF LIFE INSURANCE
Term Life
Term Life Insurance, Also Known As Pure Life Insurance, Is Life Insurance That Guarantees Payment Of A Stated Death Benefit During A Specified Term
Whole Life
Whole Life Insurance Provides Coverage For The Life Of The Insured. In Addition To Providing A Death Benefit, Whole Life Also Contains A Savings Component Where Cash Value May Accumulate.
Endowment Plans
An Endowment Is A Donation Of Money Or Property To A Non-Profit Organization, Which Uses The Resulting Investment Income For A Specific Purpose.
IMPORTANT TERMS OF LIFE INSURANCE
A Non-Participating Life Insurance Plan Is One Where The Policyholder Does Not Receive Any Bonuses Or Add-Ons In The Form Of Dividends Declared By The Insurer From Time To Time. As The Name Suggests, The Insurer Does Not “Participate” In The Insurance Company’s Business.
A Rider Is An Insurance Policy Provision That Adds Benefits To Or Amends The Terms Of A Basic Insurance Policy. Riders Provide Insured Parties With Options Such As Additional Coverage, Or They May Even Restrict Or Limit Coverage.
A Death Benefit Is A Payout To The Beneficiary Of A Life Insurance Policy, Annuity, Or Pension When The Insured Or Annuitant Dies.
A Gross Premium Is The Total Premium Of An Insurance Contract Before Brokerage Or Discounts Have Been Deducted.
The Policy Term Is The Lifetime Of An Insurance Policy.
Premium Paying Term Is The Total Number Of Years For The Policy Holder To Pay The Premium
