An insurance policy acts as financial safeguard against several uncertainties in life. With the correct combination of policies, insurance can be efficiently utilised to cover up your assets and life. You can get access to various types of insurance covers to secure your loved ones. Here are the different types of insurance policies that are available in India-
Life Insurance- It is a type of policy that gives protection against the insured person’s sudden demise. The nominee receives a pre-approved sum in such cases. A few variants of life insurance are:
i) Whole life plan: This provides coverage throughout the entire lifetime of a policyholder. People use this plan to create an inheritance.
ii) Term plan: Term plans render a life cover for a specific term, and no payments are to be made to the insured, in case he/she survives the tenor.
iii) ULIP: It provides a life cover along with investment in equities, debt market, etc.
General Insurance- It comprises all non-life insurance policies and are usually of shorter tenure. Some of the popular variants include:
i) Health insurance: Covers various medical & health related expenditure.
ii) Motor insurance: Covers different categories of vehicles from thefts, accidents and calamities.
iii) Home insurance: Covers your home against theft, calamities and several other disasters.
Bajaj Finserv brings you a suite of all these insurance policies under one roof to secure your family and the assets. While you cannot stop uncertainties, it is always advisable to be preventive in advance. Taking an insurance policy will secure the future of your family by providing the necessary financial support.
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