Types of Life Insurance Policies in India

Term Life Insurance

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Whole Life Insurance

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Endowment Insurance

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Money-Back Policy

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Unit-Linked Insurance Plan

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Child-Plan Insurance

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Pension-Plan

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Types of Life Insurance Policies in India

Term Life Insurance

Provides pure life cover for a specific term. Cheapest and simplest form of life insurance with no maturity benefits.

Whole Life Insurance

Covers the policyholder's entire life and provides a death benefit payout to the nominee. Can build cash value over time.

Endowment Insurance

Offers both life cover and savings. Policyholder receives a lump sum amount as maturity benefit if they survive the policy term.

Money-Back Policy

Provides regular payouts (as a percentage of sum assured) at specific intervals during the policy term. Nominee receives full sum assured on death.

Unit-Linked Insurance Plan

Combines life insurance with investment. Policyholder can invest in a variety of funds, and returns depend on market performance.

Child-Plan Insurance

Designed to secure a child's future by providing life cover for education/marriage. Offer options for premium payment and payout.

Pension-Plan

Also known as retirement plans. Provide a regular income after retirement. Can be purchased as annuity or with a lump sum payment.

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