1:51 AM
Types
of Life Insurance Policy
1.
On the basis of Payment of Premium
1)
Single premium payment/ Lum- sum payment
2)
Multiple premium payment
(a)
Limited premium payment
(b)
Whole Life Premium Payment
2.
On the basis of Profit sharing
1)
With profit policy
2)
Without profit policy
3.
On the basis of Market value
4.
On the basis of Life Assured
1)
Single Life policy
2)
Joint Life policy
5.
On the basis of Sum Assured
1)
Single installment
2)
Multiple installment
6.
On the basis of Duration of the policy
1)
Limited period(10 year or 20 year)
2)
Whole life(till death)
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