Insurance Sector

Insurance Sector

For Investing Insurance is essentially an important and prominent area of fund investing. Insurance is of various types. Main idea before insurance choice is the money security as well as life security. Mostly it provides financial security to it’s family members those who were nor earning or having no earning capacity. Mainly categories like  life insurance and investment portfolio plans. Purely life insurance plans not only provides life security but also gives well or moderate  return on their investment. But purely portfolio or Unit linked plans , main target is to earn return more and more but having less or nil life security benefit. Various plan under Life Insurance  plans are Money-back policy, Health policy, Retirement plan, Bima Gold, Child career, Double benefit plants , ULIP or Unit Linked Insurance Plans in both Growth and Dividend based are available in market.

In this Sector , you found Life Insurance Company  of India, ICICI Prudential, Met Life, HDFC Standard Life, Tata AIG, Bajaj Allianz  Life, Aviva Life Insurance, Birla Life Insurance, HSBC Canara Life Insurance, Max life , Reliance Life Insurance and many more but at the time of purchasing any plan you must verify it’s IRDA( Insurance Regulatory Authority of India) the only centralized apex  regulatory and approving authority in India for Controlling and regulating Indian Insurance Sector.

You may opt for child plan for secure future life  of your children. For Retirement   benefit you can take  pension plan. Health condition may not be same for every time , that’s why for self and family’s betterment Health Insurance or Mediclaim  insurance plan should  be purchased. In case of Investing purpose plan you have to see the features like flexibility. Means you have the option to withdrawn partial or full from the sum assured if needed.

You may take endowment plan or to money back plan. In traditional endowment plant you have to invest for a fixed period of time and after the expire the period , maturity value will be refunded at a time. But in case of money back plan at a time interval some percentage of their sum assured value will be refunded by way of money back and balance part will be matured in end. But in investment or ULIP policy some sort of risk is there as it is linked with some portfolio or share market and like share market it may grow or loose.

Your premium payment period may be cleared and regularly maintaining is a vital part. Because during locking period  policy might be lapsed due to non payment of  premium. If it is yearly premium payment option it may cheap than monthly term. For payment of premium looking the grace period you may ready to invest beforehand. Be sure, conscious and well known all about features and go for insurance.