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Life Insurance Products
Life insurance products are usually referred as plans of insurance Basic elements of plans are: Death cover Survival benefit Term Assurance: Provide only death cover if assured dies during the covered...
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Life Insurance Products
Whole life policy: A term assurance plan with an unspecified period, under which sum assured is paid on death. This plan is mainly devised to create an estate for the heirs of the policyholder as the...
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Life Insurance Products
Joint Life Policy: Two or more lives can be covered under one policy Usually cover married couples or partners The SA is paid on the death of any of the insured persons during the term or at the end of...
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Annuity
Annuity means a series of payments made at successive periods or intervals of time is called annuity Example: salary, loan repayment, SIP Number of lives covered Single: provides the annuity to the...
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Linked Life Insurance
These plans have been of great success in recent years. It is a hybrid plan which gives an option of choosing the investment portion to the insured. It combines the benefit of life insurance as well as...
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Life Insurence Policy Selection
Before choosing any life insurance product one must consider the following: Adequacy of coverage Cash outflow/ amount of premium Duration of need Expenses of the policy Surrender charges However there...
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