Types of Life Insurance New Policy 2020-21

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Types of Life Insurance:- Life insurance companies have divided life insurance policies into different types keeping in view the needs and requirements of the people.

  • There are many types of insurance policies. You can avail any type of life insurance policy. The life insurance policy covers your personal expenses, education of children, disability, protection of your family even after death, etc. The information about the types of the life insurance policy. Is give in detail below.
Types of Life Insurance

Term life insurance policy

  • Term life insurance policies come under the category of protection.
  • This policy is a policy to be give for a fixed period of time.
  • Insurance policies are much cheaper than other policies.
  • life insurance policy It gives life cover without saving.
  • After the death of the insured, a fixed amount is give to the family of the insured.
  • If you are taking a policy only for accident cover or to cover any risk. Then a term life insurance policy will prove to be better for you.
  • life insurance policy is very good. As well as being affordable for you.
  • You are the head of the household. So all the responsibility of the family is on you. In such a situation, the term life insurance policy covers the needs of your family even after your death.
  • The benefit of exemption is also. Available on payment receive. Under a term life insurance policy subject to conditions under Section 10D of the Income Tax Act, 1996.

Child life insurance policy

  • Child Life Insurance Policy This policy provides coverage for your children’s future needs and their education.
  • This policy caters to the many needs of your children.
  • Although everyone dreams of living a long life. No one knows about the future. I don’t know when what will happen. In such a situation, you are justified in worrying about the future of your children, this plan provides cover for the needs of your children even in your absence.
  • This policy is mainly for life insurance cover and investment.

ULIP Life Insurance Policy

  • In most of the schemes, you do not have the option as to where you want to invest to secure your money.
  • ULIP Life Insurance Policy This policy gives you the complete right to invest your money in the right way.
  • Most people take loans to invest their money.
  • A special feature of this policy is that it gives you full rights to invest your money.
Pension life insurance plan
  • Pension Life Insurance Plan:- This plan is meant to provide security to your financial life post-retirement life.
  • There are many types of pension plans available in the market.
  • You can take advantage of this scheme according to your need.
  • You can choose any one plan to plan your retirement.
  • All these schemes are different, their benefits, their features are all different.
  • A pension life insurance plan is meant to provide security to your post-retirement life.
Hall life insurance policy
  • Hall Life Insurance Policy This is a plan to provide protection for your entire life.
  • In this plan, mainly the life assured has to pay premiums from time to time. Then after some time when the payment term ends, you also get a bonus.
  • If you pay the premium ahead of time, then you. Get some amount even before death. Along with a bonus.
  • This policy also provides cover even after the death of. The insure person due to some reason.
Moneyback Life Insurance Policy
  • A Moneyback life insurance policy is similar to an advance policy in a way.
  • In this policy, some amount is return to the insure from time to time.
  • The remaining amount is receive after the term of the policy is over.
  • Moneyback Life Insurance Policy This policy has the highest premium.
  • Bonus is also available in moneyback life insurance policy.

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