Life insurance is something that protects your family in your absence. The best thing about this is that it provides a definite amount of money to your loved ones when you are not around to take care of them. Usually these types of policies provide a huge financial relief to your family when they need it the most. There are many insurance companies in India that offers different types of life insurance policy to their consumers. Best life insurance policies also act like a flexible money saving plan.

There are numerous life insurance policies in India. Different forms of policies serve customers with different beneficial features. Their coverage and policy term period also varies. There are many well known companies that are offering top life insurance policies. Before choosing any life insurance policy, you must compare top plans as well. Life insurance policy is divided into two different parts- -Pure protection plans – Investment plans. In India, majorly life insurance has been used more for investment purposes than other forms of the same. 

Types Of Life Insurance Policies In India

Whole Life Insurance: This form of life insurance policy provides a lifelong coverage. Under this the consumers have to pay the premium on a yearly basis.

Endowment Plans: Under this policy the insurance company has to pay a lump sum amount to the policyholder when he dies or at the maturity time. There are some policies available that also offer coverage in case of critical illnesses.

Money Back Plans: This plan is a form of investment that offers good returns in the future for multiple purposes.

Term Life Insurance: This plan provides a fixed amount to the nominee or beneficiary as per stated in the document after the death of the insured so that his/her family can maintain their lifestyle as it used to be.

ULIPs: Ulips or Unit Linked Insurance Plans offers the dual benefits of investment and insurance coverage as well. It allows consumers to select the investment option on its own.

Best Life Insurance Plans – The New Year has dawned and concept of life-changing resolutions is in full force. If you are planning to invest this new year for enhancing your savings and assign it to the well-being of your family’s financial future, purchasing a good life insurance policy should be on top of your to do list.

If you are searching for the best life insurance policy, then your search for the best options ends here as we provide you with a complete list of the 5 best life insurance policies in India. 

Source: https://www.policyx.com/blogs/top-5-life-insurance-policies/