Different Types Of Insurance Policies Aims And Objectives


Different Types Of Insurance Policies Aims And Objectives - There are two basic types of life insurance policies viz. Traditional Whole Life and Term Life Insurance. A whole life is a policy you pay till death of the policy holder and term life is a policy for a fixed amount of time.
different types of insurance policies aims and objectives
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Different Types Of Insurance Policies Aims And Objectives

About different types of insurance policies aims and objectives. The basic types of life insurance policies are:
  1. Term insurance: Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period.
  2. Endowment plans: Endowment plans pay out the sum assured under both scenarios - death and survival
  3. Unit linked insurance plans (ULIP): ULIP is a life insurance product, which provides risk cover for the policy holder along with investment options to invest in any number of qualified investments.
  4. Whole life policy: The policyholder pays regular premiums until his death, upon which the corpus is paid out to the family.
  5. Money back policy: Money back plan is a life insurance product as well as an investment plan which provides life insurance cover against death of the policy holder along with periodic returns as a percentage of sum assured. Source: hdfclife.com
An aim. Where the business wants to go in the future and its goals. It is a statement purpose. Like want to grow the business in to Europe Objectives - give the business a clearly defined target. Plans can then be made to achieve these targets. 

This can motivate the employees. also enable the business to measure the progress towards its started aims The most effective business objectives meet the following criteria: Specific -clear and easy to understand.

Example from india about different types of insurance policies aims and objectives:

The life insurance sector

The life insurance sector is one of the fastest growing finance related segments in India. There are many different products, each with a variety of offerings. 

Right from fueling investment needs to meeting different financial goals, they come with many objectives for the investor. Here are a few common types of covers, including whole life and term insurance policy.
May be you like this: How To Buy Life Insurance Wisely
  • Endowment Policy 
  • Term Insurance 
  • Money or Cash Plans 
  • Whole Life Insurance 
  • Children’s Policies and
  • Annuity Plans 
Finish, this is about different types of insurance policies aims and objectives. if you have any question. comment below.


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