What is it?
Life insurance pays a sum assured to nominees on the policyholder's death. Some plans also include savings or maturity benefits.
Key Features
- Endowment, ULIP, whole-life and more
- Nominee benefits
- Riders for added protection
Potential Benefits
- Family financial security
- Possible tax benefits under prevailing laws
- Long-term savings discipline in some plans
Risks
- Savings plans may offer modest returns
- Surrender charges on early exit
- ULIPs carry market risk
Who May Consider It?
- Earning members with dependants
- Individuals seeking protection plus savings
Frequently asked questions
1. Life vs term insurance?
Term insurance is pure protection; other life plans may combine protection with savings.
Related in Protect
Disclaimer: Investments are subject to market risks. Information provided on this website is for educational and informational purposes and should not be considered investment advice or a recommendation to buy or sell any financial product. Past performance does not guarantee future results.