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Insurance provides financial coverage against the insecurities, uncertainties and all unfortunate eventualities of life. To day insurance comes to us in
many forms and here are a few epigrammatic statements trying to view insurance from different angles.
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- Insures life, ensures protection, assures happiness
- Navigates safely across the ocean of life.
- Serves to alley the anxieties of tomorrow.
- Umbrella that is capable to become a missile
- Ready to protect and bring rare benefits.
- Any time, anywhere ready to face any unpleasant eventuality.
- Never failing, ever promising financial cover against all odds of life.
- Caring for all policy holders during and after their life.
- Ever-ready to wipe tears of the sufferers and restore smiles.
Life Insurance:-
There are;
- Traditional
- Unit Linked Plan
Traditional Plan:- Three parts;
- Endowment
- Whole life
- Money Back
Unit linked Plan:-To offer benefits of
Pension Plan:-
Funds & growth mortality & allocation transparent business growth can be achieved though five types of funds.
Type of fund & features
- Equity index fund
High Risk High rehiring by investment in Share Market
- Debt-fund by investment in govt. bonds fully secured
- Balance funds:-50% investment in debt-fund & 50% Equity Funds.
Traditional Plan:-
- Endowment
- Whole life
- Money back
- Endowment:- It is such a protection plan which insures maximum long term benefits against a limited amount to be paid as premium
- Whole Life:- This too is a protection plan under which the insured has to pay premium for a short period of 15 years and enjoys handsome returns (bonus) for whole life and after
death gets (fund value) sum assured with bonus. It is called some time premium and long time policy.
- Money back:- Under this plan the insured gets interim returns of the money paid by him. As the insured pays the premiums regularly, he gets a fixed sum back at regular intervals
from the insurance company.
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