Life Insurance

Module Units

1. Introduction
2. Why Is Life Insurance Necessary?
3. Who Needs Life Insurance?
4. Definition Of Risk
5. Classification Of Risk
6. Insurable Risk
7. Features Of Life Insurance Contracts
8. Life Insurance –Required Cover
9. What Should Be The Duration Of Your Policy?
10. How Much Cover Is Needed?
11. Life Insurance Plans & Riders
12. Term Plan
13. Whole Life Insurance
14. Endowment Life Insurance
15. Money Back Policy
16. Children’s Policy
17. Pension And Annuities
18. Need For Pension And Annuities
19. Unit-Linked Insurance Plans (ULIPs)
20. Types Of Unit-Linked Insurance Plans (ULIPs)
21. Charges, Fees And Deductions In ULIP
22. How Much Of The Premium Is Used To Purchase Units Of ULIP?
23. Pradhan Mantri Jyoti Bima Yojna (PMJJBY)
24. What Is A Rider?
25. Insurance Regulatory And Development Authority Of India (IRDAI)
26. Policyholders Interest Regulations, 2002
27. Rules Regarding Policyholders’ Servicing
28. Grievance Redressal Mechanism
29. Must Know Concept And Terms Part 1
30. Must Know Concept And Terms Part 2
31. Practical Matters
32. Accumulation / Payout Stage
33. When Should You Exit A Life Insurance Policy You Don’t Need Anymore?
34. When You Should Hold On To The Policy?
35. Conclusion

Children’s Policy

What is Children’s Policy? Explain its features.

These types of policies are taken out on the life of the children where the parent is the proposer. Through such policies the parent can plan to get funds when the child reaches various stages in life.

These plans carry high premiums and low returns for the policyholders.

These so called children plans are just a separate category aimed at children’s life but in reality they are either a money back policy or endowment policy or even a combination with some other market linked structure.

The only good thing about such plans is that they offer waiver of premiums in case of unfortunate death of the parent/proposer during the term of the policy.

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Units 16/35

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