Since 2001, Indian Insurance landscape has changed big time and for good.

The insurance industry has been a dynamic one ever since the gates were thrown open to the private players. A lot has happened in terms of product innovation, product training, customer focus and the like. Not only India now is a lucrative home to return to but also a place for smart investments and retirement. Insurance Regulator (IRDA), Insurance Companies and Insurance intermediaries (Brokers / Agents alike) are active to spread the virtues of Insurance for Risk mitigation and Wealth creation. Both in Life as well as Non-Life Insurance space, now we have very innovative products that will suit your needs. Every business line / segment of Insurance, you will have multiple options now. There is a high chance that you may get the cover, far cheaper than your host stay country. Case is point is Travel Insurance, Liability Insurance, Motor Insurance, Marine Insurance and may be to an extent Life Insurance too.

I work for Bonsai, an Indian company with business interests also in United States. Bonsai is the only Indian company with Insurance Broking License in both the countries. Thus, we are better placed to give you a balanced & neutral view on the best of both worlds. As a matter of fact, some of the products available in India are really great and true value for money. I take this opportunity to quickly touch upon product options available for NRI’s to pick from Indian Insurance market. You are welcome to Compare and BuyNow your choice plans at http://www.insurancemall.in/. Bonsai guarantees the best product in the given premium segment.

Types of Indian Insurance for NRI’s

1. Indian Endowment Life Insurance Policy
2. Indian Whole Life Insurance Policy
3. Indian Term Life Insurance Policy
4. Indian Money Back Life Insurance Policy
5. Indian Joint Life Insurance Policy
6. Indian Group Life Insurance
7. Indian Unit Linked Insurance Plans (ULIP)
8. Indian Pension Plans / Annuity or Retirement Life Insurance plans
9. Indian Health Insurance Plan / Mediclaim
10. Indian Travel Insurance (also known as Visitors Insurance or Overseas Mediclaim)
11. Indian Home Insurance Plan (also known as Householder policy)
12. Indian Liability Insurance for Business / Corporate

Life Insurance

In broad term Life Insurance covers you for death risk. Life is very fragile and death is a certainty. We cannot control the uncertainties of life. But, we can cover the risks surrounding us. Here is a quick list of Life Insurance types available in India for NRI’s.

• Indian Endowment Life Insurance Policy

An endowment policy covers risk for a specified period, at the end of which the sum assured is paid back to the policyholder, along with the Interest bonus accumulated during the term of the policy. Endowment life insurance pays the face value of the policy either at the insured’s death or at a certain age or after a number of years of premium payment.

Life Insurance Corporation (LIC), Bajaj Allianz Life, Kotak Life, ING Vysya Life has some smart Endowment Life Insurance products in India. Compare and BuyNow at
https://www.insurancemall.in/Forms/frm_G_Life_Insurance.aspx

• Indian Whole Life Insurance Policy

A whole life policy runs as long as the policyholder is alive or up-to age 100. As risk is covered for the entire life of the policyholder, therefore, such policies are known as whole life policies. In a whole life policy, the insured amount and the bonus is payable only to the nominee of the beneficiary upon the death of the policyholder. There is no survival benefit as the policyholder is not entitled to any money during his / her own lifetime, unless he crosses age 100.

Life Insurance Corporation (LIC), Tata-AIG, Bajaj Allianz Life, Max New York Life, ING Vysya Life has some smart Whole Life Insurance products in India. Compare and BuyNow at
https://www.insurancemall.in/Forms/frm_G_Life_Insurance.aspx

• Indian Term Life Insurance Policy

A term plan is a pure risk cover without any maturity benefits. This is because there is no savings or interest element in the premium being charged to the individual; hence maturity benefits do not accrue. NRIs may want to compare the term life insurance premium rates in their adopted countries of residence vis-à-vis Term life insurance premium rates in India. For sure, American Term Life Insurance is far more competitive that Indian Term Life Insurance. In last decade, due to maturity of market and higher life expectancy rate, the Term Insurance Rates have crashed in America.

Life Insurance Corporation (LIC), Tata-AIG, Bajaj Allianz Life, ICICI Prudential, Birla Sun life has smart Term Life Insurance products in India. Compare and BuyNow at
https://www.insurancemall.in/Forms/frm_G_Search_Page.aspx?qsInsr=L&qsInsrTypId=IT0003

• Indian Money Back Life Insurance Policy

Money back policy provides for periodic payments of partial survival benefits during the term of the policy, as long as the policyholder is alive. An important feature of money back policies is that in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which may have already been paid as money-back components. The bonus is also calculated on the full sum assured.

Life Insurance Corporation (LIC), Bajaj Allianz and ICICI Prudential Life Insurance have smart Money Back Life Insurance products in India. Compare and BuyNow at http://www.InsuranceMall.in

• Indian Joint Life Insurance Policy

Joint life insurance policies are smart endowment policies. It covers two lives simultaneously, thus offering a unique advantage say, for a married couple or for partners in a business firm. Under a joint life policy the sum assured is payable on the first death and again on the death of the survivor during the term of the policy. If one or both the lives survive to the maturity date, the sum assured as well as the vested bonuses are payable on the maturity date. The premiums payable cease on the first death or on the expiry of the selected term, whichever is earlier.

Life Insurance Corporation (LIC) and ICICI Prudential Insurance have smart Joint Life Insurance products in India. Compare and BuyNow at http://www.InsuranceMall.in

• Indian Group Life Insurance Policy

Group insurance offers Term life insurance protection under group policies to various association or homogenous groups. Due to the risk gets spread over a large member base; Group insurance plans have low premiums. These include employer-employee groups, associations of professionals (such as doctors, lawyers, chartered accountants etc), members of cooperative banks, welfare funds, credit societies or weaker sections of society.

Life Insurance Corporation (LIC), HDFC Life, Kotak Life has some smart Group Life Insurance products in India. Compare and BuyNow at http://www.InsuranceMall.in

• Indian Unit Linked Insurance Policy (ULIP)

Unit (Market) linked insurance plan (ULIP) is life insurance solution that provides for the benefits of protection and flexibility in investment. ULIP invests the premium money in various proportions in the Equity (Stock) and Debt (Bond) markets. In effect, the returns on such plans are linked to the performances of the markets. ULIPs
come in various forms like endowment ULIPs, child plan ULIPs and retirement ULIPs
While ULIPs have been a rage with majority Indians including NRIs, it is prudent to carefully read the policy documents about the expense structure. The expenses incurred by the ULIP ultimately impact its returns - the lower the expenses the higher will be the returns and vice versa. IRDA is watching ULIP growth with careful eyes as it has huge potential for losses for individual less informed about stock and financial markets. ULIPs should not act as a pure investment vehicle but should go hand in hand with other investment instruments like mutual funds and bank deposits. You should diversify your portfolio with a careful balance between ULIPs and other investment avenues available in India.

• Indian Child ULIP plans

An NRI may have plans to work abroad but may want his children to be brought up in India. In such a case, a child policy will help in planning for his children’s future in terms of education, marriage or seed capital for a business venture. A regular child plan comes in various options such as money-back plans, traditional endowment child plans and unit linked plans. Child plans offer the NRI an opportunity to earn market-linked returns, which from a 10-15 year perspective can prove very lucrative.

Life Insurance Corporation (LIC), Bajaj Allianz, ICICI Prudential, ING Vysya Life has some smart ULIP products in India. Compare and BuyNow at
https://www.insurancemall.in/Forms/frm_G_Life_Insurance.aspx

• Indian Pension Plans / Annuity or Retirement Life Insurance plans

Annuities or Pension Plan works opposite of Life Insurance Principals as an annuity does not provide any life insurance cover but, instead, offers a guaranteed income either for life or for a certain period.

A pension plan or an annuity is an investment that is made either in a single lump sum payment or through installments paid over a certain number of working years, in return for a specific sum that is received every year, every half-year or every month, either for life or for a fixed number of years.

While an NRI may have chosen to go abroad to work, he may wish to spend his golden years in India. This makes a case for him to plan for a hassle-free and financially independent retired life in India. This is where pension/retirement plans come in.
Again; pension plans offer a variety of options to NRIs. Regular as well as unit linked pension plans are available. Individuals can invest in a pension plan, which suits their risk profile and long-term objectives best. The NRI can also consider buying an insurance plan in the name of his parents or his wife/children to secure their financial future.

Life Insurance Corporation (LIC) has best pension products in India. Compare and BuyNow at
https://www.insurancemall.in/Forms/frm_G_Life_Insurance.aspx

• Indian Health Insurance Plan / Mediclaim

NRI can or should buy Health Insurance for their parents. Health expenses are growing every year and so is the life expectancy, which must be planned well in advance. Medical cost, Preventive cost or cost related to Old Age Care (OAC) are going to mount up like Western World soon, hence is imperative that NRI’s must look at taking Health Insurance for Parents with Critical Illness rider.

Bajaj Allianz General Insurance, Apollo DKV, Star Heath and Reliance General Insurance has best Health Insurance products in India. You may want to Compare and BuyNow your choice policies at https://www.insurancemall.in/Forms/frm_G_Health_Insurance.aspx

• Indian Travel Insurance (also known as Visitors Insurance or Overseas Mediclaim)

Though NRI’s stay abroad but their heart and feelings are with India and family members. Every year parents and family members Travel Abroad and it is important that NRI’s must buy Travel Insurance before the travel. Indian Travel Insurance covers up-to age 70 and most of the plans are good and competitive.

Bajaj Allainz, Tata-AIG, HDFC and ICICI Lombard has best plans in this category. Incase, you are interested to Compare and BuyNow American Plans, you could do that at http://USA.InsurandceMall.in (Click Visitors Insurance). American Travel and Health Plans for NRI’s are available till age 99 without any medical check.

• Indian Home Insurance Plan (also known as Householder Policy)

Most of the NRI’s has link back to India. In-fact, young professionals are exploring to come back home as India now presents a bigger and better work environment for Non Resident Indians. Every body has a dream to own a property in India for a rainy season. Even NRI’s explore buying property in India from Investment point of view that must be insured.

Bajaj Allianz and ICICI Lombard have best Home Insurance plans in the category. You may want to Compare and BuyNow your choice policies at
https://www.insurancemall.in/Forms/frm_G_Search_Home_Insr.aspx?qsInsr=L&qsInsrTypId=IT0007

• Indian Liability Insurance for Business / Corporate

Many successful NRI’s are setting up business in India particularly in the IT field with risk exposure in United States or Europe. It is imperative for Indian businesses to take Directors and Officers Liability (D&O) plus Errors and Omission (E &O) Liability cover, if one is in IT, KPO, BPO or Exports business. NRI’s may explore taking Indian Liability Insurance as it is far cheaper than what is available in USA or Europe.

Tata AIG / Bajaj Allianz and Govt. of India Insurance companies like National, Oriental or New India has best Liability plans, Indian entrepreneurs or NRI could explore. For Fee Free risk assessment of your Corporate Insurance needs, Bonsai Insurance Brokers would be happy to quote for you. A quick access link for queries - https://www.insurancemall.in/Forms/frm_G_I_Want.aspx

So, as a summary, we see that Indian Insurance is getting matured fast. Practically every month some lateral Products come out in the market to cover your risks. In conclusion, I must admit that over all Premium of Indian Insurance will be 30% cheaper than what is available abroad hence Non Resident Indians (NRI’s) may want to explore it before purchasing their next Insurance Plan.

Manish K. Jaiswal
USA

for

Insurance Mall I Opener

Swan Telecom acted as front for Reliance Telecom: CAGCAG noted that at the time of applying for UAS licence, the equity stakes of Reliance Telecom Ltd in Swan Telecom Pvt Ltd was 10.71%.

It has been experienced whenever anyone was offered rental car insurance, they straightforwardly answer ‘no’—but there are always exceptions to the rule. 

When You Shouldn’t Buy  When you have already good auto insurance and you rent a vehicle for a vacation, or because your vehicle is being repaired or serviced, or for some other reason, you’re already covered. Unfortunately, most of the people aren’t aware of this and often wind up buying the insurance offered by the car rental agency when it’s completely unnecessary. 

When You Should Buy Maybe critic would try to convince you that purchasing insurance for that rental car is a bad idea, don’t eat this. Indian auto insurance companies are generally good about taking care of their customers when traveling at home, in some cases their hands are tied when those same customers travel outside the country.  

It’s usually a problem in the countries like, Mexico, if you do not have Mexican insurance and are involved in an accident, you can wind up in a very bad situation. This is also the case in other countries. If you are planning to travel abroad and are thinking of renting a motor vehicle during your stay, contact your insurance company as well as the issuer of any credit cards you may use to pay with and find out ahead of time whether or not you are covered. 

How You Can Avoid Buying You Don't Need? When you make the decision and ready to rent a vehicle, check your auto and homeowners or renters policy to get an idea of what coverage you have while in the rented vehicle. Don’t even forget to take some time to find out exactly what rental car company offers. Most important, you should compare those coverages to the ones you already have. That’s can be the guiding path for what you can avoid buying you don't need.

Now, if you want to understand the nuances of different types of policies and its price, feel free to seek the help of InsuranceMall to select the right products based on your need.  

InsuranceMall is the leading and first online insurance broker in India. With the motto to make our customer delighted and proud about their decisions, we’re always there to help them with best possible policy. 

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Investment limit in Indian Insurance shall be raised to 49% now

 

 

‘The union cabinet today gave its approval for introduction of the Insurance (Amendment) Bill 2008 for amendment to Insurance Act, 1938, General Insurance Business (Nationalization) Act, 1972 and Insurance Regulatory and Development Authority Act (IRDA), 1999 in the Rajya Sabha in the basis of the recommendations made by a GoM (group of ministers),’ Chidambaram said. These bills will enable the raising of the FDI cap among private players from 26 percent to 49 percent, he added.

Through another bill, the equity of the state-owned Life Insurance Corporation LIC) will be raised from Rs.50 million to Rs.1 billion, Finance Minister P. Chidambaram told reporters after a cabinet meeting chaired by Prime Minister Manmohan Singh. This bill will raise the equity of the LIC from Rs.50 million to Rs.1 billion.

‘The amendments will remove archaic and redundant provisions in the legislations and incorporate certain provisions to provide IRDA with flexibility to discharge its functions effectively and efficiently,’ FM P. Chidambaram said.

Indian Insurance at a glance by Mahavir Chopra

 

 

News and Reviews – Indian Insurance, typically is divided into 2 parts. The Bigger chunk is Life Insurance. And the second part is any thing that is not Life Insurance. Or in other words Non Life Insurance. This definition is easy to remember and grasp. But, can we really say that Indian Insurance is so simple to present. The answer is NO. Like International Insurance particularly Western World, Indian Insurance is also complex in nature with some serious overlap in Policies, Program and Players. For Example – Health Insurance in India was always sold by traditional Non-Life Insurance Companies which is now being serviced by Life Insurance Companies too. This is not necessary a bad news for consumer as more players means better product and greater saving. However, for simplicity and quick grasping sake, we take liberty to divide Indian Insurance into 5 major segments:

1. Personal Lines
2. Rural Lines
3. Industrial Lines
4. Commercial Lines
5. Life Insurance

Click to read on for the Insurance Policies falling into each segment….

PERSONAL LINE POLICIES IN INDIA

1. 2 Wheeler Policy – 2 Wheeler Policy indemnifies bona fide owner of the Auto, used for personal purposes against the loss due to damage / theft / burglary of vehicle or any part there of, electrical accessories and also includes cover against liability towards third party personal injury and property damage.

2. Householders Policy: Policy covers risks of different types and protects the house as well as personal effects and household goods.

3. Personal Accident Policy: Policy compensates individuals against accidental injuries resulting in disability or death.

4. Critical Illness Policy: Policy provides exclusive benefit to individuals in the age group 20-65 years who are unexpectedly diagnosed for treatment of critical ailments like Coronary Artery Surgery, Cancer, Renal Failure, Major Organ Transplant, Stroke or Multiple Sclerosis.

5. NRI Accident Policy: Policy covers Non-Resident Indians and family against loss arising from accidental injuries including death.

6. Amartya Siksha Yojana Policy: Policy covers cost of education of student/students in the age group of 4 to 25 years in the event of death of Parent/Guardian thus providing for continuation of studies.

7. Rajrajeshwari Mahila Kalyan Yojana Policy: Specially designed to protect the welfare of women mainly in rural and semi-urban areas.

8. Bhagyashree Child Welfare Policy: Policy provides protection to the girl child in the event of death of either or both the parents.

9. Traffic Accident Policy: Policy provides hospitalization expenses up to Rs. 1 lac and Personal Accident Benefits up to Rs. 1 lac in case of road/rail accidents resulting in injuries/death.

10. Niwas Yojana Policy: Policy insures repayment of housing loan in case of accidental death/Permanent Total Disablement of loanee and also covers residential building and the owner’s permanent fixture and fittings against Fire and allied perils including Flood, Storm, Earthquake etc.

11. Baggage Policy: The BP indemnifies individual or a party against loss/damage to personal effects such as clothing etc carried as baggage during travel.

12. Mediclaim Policy: Provides protection to individuals, families, employers, employees and welfare bodies against heavy financial burden for treatment in hospitals for illness, disease or accident, whether involving surgery or not.

13. Motor Policy: Private Car Policy indemnifies bona fide owner of Motor Car, used for personal purposes against the loss due to damage / theft / burglary of vehicle or any part there of, electrical accessories and also includes cover against liability towards third party personal injury and property damage.

14. Professional Indemnity: The Policy covers liability on account of Errors and Omission of doctors / professionals / CAs / Insurance Agents / Architect etc while rendering professional services.

15. Star National Swasthya Bima Policy: Star National Swasthya Bima policy is a unique Health Policy designed especially for the Account holders of Bank of India. The entire family consisting of the account holder, spouse and two dependent children upto the age of 21 years can be covered under this policy. This policy covers Hospitalization expenses for account holder and family. In case of hospitalization Expenses, the entire family is covered for the Floater Sum Insured as opted for, i.e., either one or all members of the family, as stated above, can utilize the Sum Insured during the policy period.

16. PARIVAR–Mediclaim for Family: This is a Family Floater Health Insurance Policy wherein entire family will be covered under single Sum Insured. The Policy covers reimbursement of Hospitalization expenses for illness/diseases contracted or injury sustained by the Insured Person. In the event of any claim becoming admissible under the policy, the Company either pay directly to the insured if TPA service is not availed by the insured or pay to the Hospital/Nursing Home through TPA the amount of such expenses subject to limits as would fall under different heads mentioned below, as are reasonably and necessarily incurred in respect thereof anywhere in India by or on behalf of such Insured Person but not exceeding Sum Insured (all claims in aggregate) for that family as stated in the Schedule in any one period of insurance.

17. VIDYARTHI-Mediclaim for Students: VIDYARTHI-Mediclaim for Students is a unique policy designed to provide Health and Personal accident cover to the students. It also provides for continuation of insured students education in case of death or permanent total disablement of the guardian due to accident.

18. VARISTHA Mediclaim for Senior Citizens: This policy has been designed to cater to the needs of our Senior Citizens. It covers Hospitalization and Domiciliary Hospitalization Expenses under Section I as well as expenses for treatment of Critical Illnesses, if opted for, under Section II. Diseases covered under Critical Illnesses are as under: • Coronary Artery Surgery • Cancer • Renal Failure i.e. Failure for both kidneys • Stroke • Multiple Sclerosis • Major Organ Transplants like kidney, Lung, Pancreas or Bone marrow • Paralysis and blindness at extra premium.

RURAL LINE POLICIES IN INDIA

1. Cattle / Livestock Insurance Policy indemnifies against loss sustained due to loss of life of cattle / livestock.

2. Sheep and Goat Insurance Policy indemnifies against loss sustained due to loss of life of Sheep or Goat.

3. Elephant Insurance Policy provides indemnity to insured for the loss sustained by him due to death of his elephant used for commercial/religious purpose. Policy does not provide cover to circus elephants.
4. Dog Insurance Policy covers death of pet dogs of Cross-bred and exotic breeds between the age group of 2 months to 8 years.

5. Brackish Water Prawn Insurance Policy covers Total loss of prawns, Nursed seeds in hatcheries owned by state Government, FFDAS, State Fisheries Corporation, MPEDA or such other organizations.

6. Silkworm (Sericulture) Insurance Policy covers total or partial loss due to death of silk worms of different variety due to disease or accident.

7. Janata Personal Accident Insurance Policy Covers individuals in the age group of 10-70 years against death or total / partial disablement.

8. Horticulture/Plantation Insurance Policy covers Loss or Damage to the Insured tree / plant due to fire / lightning / storm / hailstorm / cyclone / tempest.

9. Kisan Agriculture Pumpset Insurance Policy covers centrifugal pump sets (Electrical and Diesel oil) submersible pump sets up to 25 HP used for agricultural purposes against Electrical/Mechanical Breakdown, Fire /Lighting, Theft and Burglary, Riot/Strike/Malicious damage etc.

INDUSTRIAL LINE POLICIES IN INDIA

1. Erection All Risks Insurance (EAR): Erection All Risk Insurance provides cover for projects involving equipment and other similar erections.

2. Contractors All Risks Insurance (CAR): Contractors All Risks Insurance caters to the need of projects which predominantly involves civil work like construction of multi storied buildings, flyovers, bridges etc.

3. Machinery Insurance (MI): Machinery Insurance provides insurance protection to both rotating as well as static equipment while at work or at rest against mechanical and electrical breakdown and also human error and negligence.

4. Electronic Equipment Insurance (EEI): Electronic Equipment Insurance caters to the peculiar needs of the electronic equipments which are not only extremely sensitive to the slightest changes in ambience conditions but also are characterized by having a large value concentration in a relatively compact set ups.

5. Consequential Loss (Fire) Policy: Consequential Loss (Fire) policy provides the most commonly sought after protection for business interruption triggered by fire and allied perils.

6. Standard Fire and Special Perils Policy: Fire Insurance provides cover against a host of perils ranging from fire, lightening, explosion/implosion, aircraft damage etc as well as act of God perils.

7. Workmen Compensation Insurance: This policy provides indemnity to the Insured against liability to pay compensation if any employee in the Insureds service sustain bodily injury by accident or contracts disease arising out of and in the course of his employment.

8. Product Liability Insurance: The policy indemnifies the insured against legal liability to third parties for death / bodily injury or damage to property arising out of use of the product sold to them.

9. Public Liability Insurance: This policy indemnifies the insured against legal liability to pay compensation to third parties for death /bodily injury or damage to property arising out of accidents out of insured’s business

COMMERCIAL LINE POLICIES IN INDIA

1. Burglary (Business Premises) Policy: Covers loss due to theft and burglary of movable properties like stock-in-trade, plant and machinery, furniture, fittings etc followed by virulent and forceful entry or exit.

2. Shopkeepers Policy: This policy is specifically devised for small shopkeepers having building and stock value limited to less than or equal to Rupees ten lacs. The policy covers host of risks like stock in trade, building, furniture, money-in-transit, business interruption etc. and indemnifies the insured loss due to any of the perils covered.

3. Bankers Indemnity Policy: This Policy is specially designed for banks to provide indemnity against direct loss suffered by them (excluding Non Banking Financial Institutions). The policy covers loss of Money and/or Securities inside Bank or while In Transit, Forgery or Alteration, Dishonesty of employees etc.

4. Office Package Policy: This policy provides a package of various covers required by an office establishment including cover for buildings, the Landlords Fixture and Fittings, Boundary Walls and Fences, Canteen etc. Office contents, equipments, cover for employees, Public Liability etc all built in one policy.

5. Glass Insurance: The policy covers loss due to accidental breakage of plain and ordinary glazed glasses without embossing, silvering, lettering, bending or ornamented fitted to doors, windows, show-cases, counters and shelves. Crockery’s are not insurable under Glass Insurance.

6. Money Insurance Policy: indemnifies insured against loss of Cash, Currency Notes, Coins, Securities, Postal Orders, Stamps, Cheques etc. whilst in transit or in locked safe.

7. Jewelers Block Policy Covers loss of or damage to the stock in trade and also cash and currency notes while contained in the premises where the insured’susiness is carried on or at other premises where the property insured is deposited.

8. Extended Warranty Policy: Policy provides extended warranty to prospective buyers of vehicle, over and above the normal warranty provided by Manufacturers / Authorized dealers of vehicles like cars and two wheelers.

9. Directors and Officers Liability Policy: Policy indemnifies legal liability to third party due to wrongful act by Directors and Officers of any company but excludes dishonest, fraudulent, criminal or malicious act, personal guarantee, libel and slander and damage to property and pollution damage.

10. Fidelity Guarantee Policy: The term ‘Fidelity Guarantee Insurance’ embraces policies indemnifying employers against financial loss on account of forgery, defalcation, embezzlement and fraudulent conversion by employees. The object is to provide protection in respect of the default of an individual acting in some capacity such as Cashier, Accountant, Store-keeper etc. The cover may be required in respect of a single employee or a number of employees.

LIFE INSURANCE POLICIES IN INDIA

1. Children Policy
2. Handicapped dependent Policy
3. Endowment Policy
4. High Net-worth (HNI) Policy
5. Money back Policy
6. Money back Policy for Women
7. Whole Life Policy
8. Term Life Policy
9. Joint Life Policy
10. Mortgage / Home Loan Policy

By

Mahavir Chopra
CEO - Bonsai Insurance Broking
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