Know about All Insurance Plans and Policies in India

1. Money back plans

   Money back plans are like endowment plans but have one difference – the payment is staggered through the policy term. It offers some part of the sum assured at periodic intervals through the policy term. Since money-back plans provide larger benefits than an endowment plans, its premiums are also expensive.

2. Whole Life plans

   Unlike Term plans, endowment plans and money back plans which offer insurance cover usually till 70 years, Whole-life plans could provide cover until your death. This policy gives an option to pay premiums till a certain age or a specified period (called maturity age).Once you attain the maturity age, you will get option to continue the cover till death without paying any premium or encash the sum assured and accumulated bonuses.

3. Unit Linked Insurance Plan

   A Unit Linked plan helps you decide where you want to invest your premium and gives you control. These plans are suitable for those who understand the intricacies of the share market and are well aware of the various charges attached to ULIP.  Before you decide on buying a ULIP, you must know the fact that it is considered the most abused insurance plan in India.

4. Pension plans

   Pension plans are investment tools that help you set up a source of income after you have retired. A pension plan contract will offer you two options, either to receive the payment (called annuity) immediately after you enter the contract which is known as the immediate annuity contract, or after some years of deferment, known as deferred annuity. You need to invest your savings with an Insurance company which will charge you a nominal fee for that and use your savings to invest on your behalf. The returns you which you receive shall depends on a number of factors like what was the amount you contributed and when you bought the plan, the number of years when you want the money to come to you and at what age that starts.

HDFC LIFE offers a variety of Investment options as per your risk appetite. Go through our website and choose a policy best suited to you.

https://www.hdfclife.com/life-insurance-plans

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