the insurance elapses and you get nothing



the insurance elapses and you get nothing

Postby windqkik » 10 Sep 2019, 03:51

Posted by ankitagore on January 20th Wholesale NFL Jerseys Online , 2017


Choosing the correct life insurance policy does need due diligence. What may seem like a mammoth task, can be simplified by asking yourself- What are the goals that you want to achieve in life?


What are your priorities- securing the future of the dependant family in worst case scenario of your passing away, child education insurance Wholesale NFL Jerseys From China , marriage, buying a house, car Wholesale NFL Jerseys China , holiday abroad every year, supporting parents, retirement planning.


Next step is to understand various policies available. Broadly Wholesale NFL Jerseys , the various policies can be categorised as:


Term insurance is purely a life insurance cover to provide for the dependant family members in case of untimely death or critical illness of the earner. It pays out only on the death or illness of the policy owner. If the insured survives the policy term, the insurance elapses and you get nothing. The premium in this type of policy is the lowest than of other insurance policies.


Endowment plans are those that combine investments and insurance cover. Depending on the terms of the policy payments are made both if death occurs or on maturity of the plan. Premiums paid are invested by insurance companies generally in safe bonds. As you are guaranteed bonuses, the premium in such policies is higher than in term insurance.


Unit Linked Insurance Plan [ULIP] is a dynamic life insurance product offering both risk cover and investment options. It differs from endowment plans because here you choose how to invest your money. One portion of the money is set aside for mortality risk cover and the remainder is invested in debt- equity markets according to your preference. ULIPs command a high premium but also provide good returns with wise investing.
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