MANAGEMENT

In whole life policy the insurance is effective for the whole life of assured in this policy insured amount is paid only after death of the insured the nominee or dependent of the insured will be paid with insured amount whole life policy can be classified as follow es

ordinary whole life insurance policy

in this policy the insured should pay the premium for life time after death of the insured insurance amount is paid to the beneficiary nominee of the insured policy holder does not get the policy amount as insurance company will be liable to pay the insurance amount after death of policy holder .

limited payment whole life policy

in this policy the premium amount is paid for a certain period of time but the insurance company provide s life time protection premium rate is higher for this types of policy compared to ordinary whole life policy policy amount is paid to the dependent of the police holder.

convertible whole life policy

in this policy holder has a option of converting this policy to any other types of life insurance policy after certain time period normally policy holder convert their whole life policy to endowment policy if they have option to convert the policy.

endowment life insurance policy
insurance is done for certain period and the insurance amount is paid after maturity of the period of after death of the policy holder which ever is earlier endowment policy can divided as follows