Insurance plays a vital role in financial planning and risk management insurance serves as a crucial safety net that helps individuals and businesses navigate uncertainties and secure their financial futures. If you have specific questions about types of insurance or their benefits, feel free to ask!
Term Insurance: Provides coverage for a specific term, paying a death benefit to beneficiaries if the policyholder dies during that term.
Whole Life Insurance: Offers coverage for the policyholder's entire life, with a death benefit and cash value accumulation.
Endowment Plans: Combines life coverage with savings; pays a lump sum on maturity or upon death.
Unit Linked Insurance Plans (ULIPs): Combines insurance with investment, where premiums are partly invested in the market.
Individual Health Insurance: Covers medical expenses for an individual.
Family Floater Plans: Covers the entire family under a single sum insured.
Critical Illness Insurance: Provides a lump sum payout upon diagnosis of specified critical illnesses.
Critical Illness Insurance: Provides a lump sum payout upon diagnosis of specified critical illnesses.
Third-Party Liability Insurance: Mandatory insurance covering damages or injuries caused to third parties in an accident.
Comprehensive Insurance: Covers damages to the insured vehicle as well as third-party liabilities, including theft and natural disasters.