1. Term Life Insurance (मियादी जीवन बीमा)
Provides pure death benefit protection for a fixed period (like 10, 15, 20 or 30 years).
If the insured dies during the term, beneficiaries get the sum assured. If they survive the term, there’s generally no payout (unless premium return variants are chosen).
Typically the most affordable life insurance.
Common variants:
Basic Term Plan
Premium Return Term Plan (gives back premiums if you survive the term)
2. Whole Life Insurance (संपूर्ण जीवन बीमा)
Provides coverage for your entire life (not just a fixed term).
Includes a cash value component that grows over time.
Premiums are usually higher than term insurance but you get lifelong protection.
3. Endowment Plans (एंडोमेंट / बंदोबस्ती योजना)
Combines insurance + savings.
Pays out if the insured dies during the policy or matures with a payout if they live till the end of the term.
Good for goals like children’s education or planned savings.
4. ULIP — Unit-Linked Insurance Plans (यूलिप)
A hybrid product: life cover + market-linked investment.
Part of your premium goes toward life cover and the rest is invested in funds (equity, debt, etc.).
Offers potentially higher returns but comes with market risk.
5. Money Back Policies (मनी बैक पॉलिसी)
You get periodic payouts during the policy term.
Also offers life cover — so your family gets the death benefit if something happens before maturity.
Useful if you want regular returns along the way.
6. Pension / Retirement Plans (रीटायरमेंट योजनाएँ)
Insurance products tailored to provide regular pension income after retirement.
Helps secure income flow later in life.
7. Child Plans (बच्चों के लिए योजनाएँ)
Designed to build funds for a child’s education, marriage, or future needs.
Offers life cover of the parent and savings for the child’s goals.
Additional Notes ::
• Within permanent life insurance (like whole life), there are specialized variants such as Universal Life, Indexed Universal Life, and Variable Life — these offer flexible premiums or market-linked cash value growth.
• Policies often allow riders (add-ons) like accidental death benefit, critical illness cover, and waiver of premium to enhance protection.
Quick decision tip ::
Want simple, low-cost protection → Term Life
Want lifelong cover + savings → Whole Life / Endowment
Want investment + insurance → ULIP
Want income back while living → Money Back
Planning retirement → Pension Plan.