What are the types of insurance?

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In life insurance, in case of premature death of the policyholder within the policy term, the insurance company pays the sum assured to the nominee's family.

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It is a type of insurance plan. Which provides protection for your whole life.

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Term life insurance is a pure protection plan that offers a lot of coverage at an affordable premium.

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An endowment plan is an investment and a plan of insurance in a single product to cover life as well as work towards essential life goals.

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In this plan a fixed sum of money is paid out at pre-determined intervals during the term of the insurance policy, the rest being insured with money-back policies or endowment plans.

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In this too, like endowment plans, a certain part of the premium goes towards providing life cover and the other part is invested in the markets to earn returns. READ MORE

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