Life Insurance
Life insurance is an irreplaceable part of a sound financial plan. It helps in securing your
family's financial future in case of an unfortunate event like your untimely death. It also
provides you with a financial backup in case of an accident or any other event which may cause
temporary or permanent disability and therefore loss of income.
Life insurance also helps as an investment tool. It builds your wealth in a planned manner to
meet your financial goals and future expenses such as buying a new house, marriage, child's
education or retirement. Future Generali India Life Insurance Company Limited offers a variety
of simple-to-understand life insurance plans. These plans will help meet your various life needs
such as protection, savings, investments, child's education, health etc.
* Investment plan provides an optimal mix of insurance and investments, thus protecting your
family against any odds and building a corpus for your future.
* Child insurance plans have traditionally played an important role in securing the child’s
future. Child plan is specially designed to meet the increasing educational and other needs of
growing children.
* Term insurance plans are pure form of insurance. It is low-cost insurance that is valid only
for a stated period of time and has no cash surrender value. You can avail high insurance with
very low premiums.
* An endowment policy is a combination of insurance and investment. Under a plain vanilla
endowment plan, the policyholder pays regular premiums for the policy term. If the policyholder
dies during the policy term, the nominee gets the death benefit i.e. the sum assured and
accumulated bonus.
* Money back policies provide for periodic payments of partial survival benefits during the term
of the policy so long as the policyholder is alive.
* A whole life policy provides coverage for the entire life of the policyholder (provided he/she
continues to make premium payments). When the policyholder dies his/her beneficiaries receive
the death benefit.
* A Unit Linked Insurance Plan (ULIP) is a life insurance policy that provides a combination of
risk cover and investment. Since investments are linked to the dynamics of the capital market,
client has risk attached to such investments.
* Keeping in view growing number of High Networth Individuals (HNIs), many insurance companies
have come out with a wide product range for this promising segment.
Non Life Insurance
The definition of non-life insurance is, the losses that are incurred from a specific financial
event are compensated to the insured this is called non-life insurance. General insurance,
property insurance and casualty insurance are other names of non-life insurance. It can be
defined as any insurance that is not related to life insurance. People, legal liabilities and
properties are covered under a non-life insurance policy.
The benefits of a non-life insurance policy are:
1. In case of health insurance, financial help is provided at the time of a medical emergency.2. It is mandatory by law to buy a third-party motor insurance policy. It can take care of the compensation to be paid to the third party in case of damage to property or life.
3. Home insurance covers the residential property of the policyholder against many unforeseen incidents, like fire, burglary, natural calamities, riots, etc.
4. Travel insurance plans offer insurance coverage to senior citizens and children as well. These help with issues like loss of baggage, accidents, loss of documents, etc. in a foreign land.
5. Commercial insurance benefits the businesses with policies like employee benefits insurance, shopkeepers insurance, property and marine insurance, etc.
The types of non-life insurance policies in India are:
*Marine insurance*Home insurance
*Travel insurance
*Health insurance
*Motor insurance
*Commercial insurance