Describe briefly the various policies issued by life insurance corporation.
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Answer:
Term Plan
Unit linked insurance plan (ULIP)
Endowment Plan
Money Back
Whole Life Insurance
Explanation:
Term Plan – pure risk cover.
Unit linked insurance plan (ULIP) – Insurance + Investment opportunity.
Endowment Plan – Insurance + Savings.
Money Back – Periodic returns with insurance cover.
Whole Life Insurance – Life coverage to the life assured for whole life.
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