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
Whole Life Insurance
Secondly, we will understand the concept of ‘Whole Life Insurance’ policy.
What is Whole Life Insurance? Explain its features.
The term 'Whole Life' itself suggests the policy covers as long as the person (insured) lives. The premium is either paid for a limited duration or throughout the lifetime but, the insurance covers the entire life of the policyholder.
The payment under the policy is assured and paid at maturity of the policy which is usually 100 years of age or earlier in the event of death.
These policies are mainly useful for planning one’s estate (succession planning) which is not the priority for most of the Indians.
But these policies are not very popular because they do not meet the expectations and changing needs of many investors, who look at insurance as an investment option.
This type of policy requires premium payment to be made indefinitely and the policyholder may find it difficult to continue the premium payment during his old age.
About the Author
Copy the URL
Leaderboard
# | Name | Score |
---|