Types of Life Insurance Policies in India
In addition to life insurance policies, some of the insurance companies also offer
the Pension Plan which is a product that allows you to plan for a recurring income to meet your expenses after your retirement. Under this plan, typically you pay a premium over a specified period. Upon maturity of the policy, you receive a sum of up to 25% of the cash value of the policy as immediate income, while the remaining value can be invested in an investment fund that pays out a sum of money regularly (the periodicity can be chosen by you monthly, quarterly, half-yearly or annually) to you. This sum can be paid out perpetually (i.e. till death) or for a fixed period depending on the options chosen by you.Types of Life Insurance Policies in India
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