|Sr No.||Type of Insurance Policy||Features|
|1||Term Life Insurance||Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policyholder for a specific time period.|
|2||Whole Life Policy||The policyholder pays regular premiums until his death, upon which the corpus is paid out to the family.|
|3||Endowment Plans||Endowment plans pay out the sum assured under both scenarios - death and survival|
|4||Unit Linked Insurance Plans||ULIP is a life insurance product, which provides risk cover for the policyholder along with investment options to invest in any number of qualified investments.|
|5||Money Back Policy||The money-back plan is a life insurance product as well as an investment plan which provides life insurance cover against death of the policyholder along with periodic returns as a percentage of sum assured.|
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.