There are two main types of life insurance:
-
There are two main types of life insurance:
1. Pure Protection (Term Insurance):
This is not for profit — it’s like a safety net.
You pay a small premium to protect your family with a large cover (like ₹1 crore).
If something happens to you, your family gets the full amount.
There’s no cash-out here — just peace of mind.
Best for: Maximum protection at lowest cost
RE: https://www.threads.com/@bhai.22__/post/DKZFAjZzbhv -
There are two main types of life insurance:
1. Pure Protection (Term Insurance):
This is not for profit — it’s like a safety net.
You pay a small premium to protect your family with a large cover (like ₹1 crore).
If something happens to you, your family gets the full amount.
There’s no cash-out here — just peace of mind. Best for: Maximum protection at lowest cost
RE: https://www.threads.com/@bhai.22__/post/DKZFAjZzbhv 2. Savings + Protection Plans (e.g. Endowment, ULIP, Guaranteed Return Plans):
These combine life cover and wealth-building.
You get a maturity payout at the end of the policy term (5–20 years).
ULIPs even let you invest in market-linked funds (like mutual funds) with insurance. You can’t “cash out” in just a few months — these are long-term plans (usually 5+ years), meant for serious saving goals like:
Buying a home
Child education
Retirement -
2. Savings + Protection Plans (e.g. Endowment, ULIP, Guaranteed Return Plans):
These combine life cover and wealth-building.
You get a maturity payout at the end of the policy term (5–20 years).
ULIPs even let you invest in market-linked funds (like mutual funds) with insurance. You can’t “cash out” in just a few months — these are long-term plans (usually 5+ years), meant for serious saving goals like: Buying a home Child education RetirementSome plans may allow partial withdrawals or loan options after a few years (depending on the policy).
Think of insurance like a seatbelt and a savings locker — you need both.
If you want short-term “cash out,” mutual funds or SIPs are better.
If you want long-term security + guaranteed returns + life cover, insurance is the smarter choice.
-
There are two main types of life insurance:
1. Pure Protection (Term Insurance):
This is not for profit — it’s like a safety net.
You pay a small premium to protect your family with a large cover (like ₹1 crore).
If something happens to you, your family gets the full amount.
There’s no cash-out here — just peace of mind. Best for: Maximum protection at lowest cost
RE: https://www.threads.com/@bhai.22__/post/DKZFAjZzbhv
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