What is Life Insurance?
A kind of income compensation from loss of life, permanent disability or elderly of which the insurance company shall pay to the insured or the specified beneficiary for the amount as according to the insurance policy.
Types of Life Insurance
There are several types of life insurance types with different coverage and benefit. Now a day there are general life insurance and special insurance. Four types of general life insurance policies are:-
- Term Life Insurance
- Whole Life Insurance
- Endowment / Saving Insurance
- Annuity Insurance
And two types of special life insurance are
- Investment-linked life insurance
- Specific for the Elderly.
Infomotion : Life Insurance