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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