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The various insurance products available from insurance companies

BY: Deena David | Category: Business and Finance | Post Date: 2009-12-24

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   Deena David
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There are various insurance companies catering to the insurance needs of people from all parts of the world. Some insurance companies have a lot of products and these products are useful for the people from all parts of the country as they can use them to save money as the insurance is a investment. At the same time, the people can also be sure that in case of any risk, they will have a support to fall upon and get some money in return, when things go wrong in the life of the person insured. There are also some other insurance companies that do not have a lot of products, but they only have a few products, but concentrate a lot on these products.

This article lists the various insurance policies available for the person to choose from. Having a basic knowledge about all these insurance products is very essential for the person to be able to cope with the various events of life.

1. Medical insurance:

There are different types of medical insurance schemes. Some of the insurance schemes that are present are useful in helping the insured person to be able to cope with the disease financially. This is because the insurance company provides money for the insured person to pay for the expenses related to the ill health. All the diseases are not covered for a person. At the same time, the age of the person is also very important in all types of insurances because if the person is above a particular age, then they are not provided insurance.

2. Term life insurance:

The term life insurance is a type of insurance where the person has insurance for a particular period of time. There are no other things that are part of the term insurance. This is the reason for the term life insurance being called as plain vanilla life insurance. After the period for which the premium was paid expires, the insurance is not valid. At the same time, the term life insurance does not have any real investment value as part of the insurance.

3. Unit linked insurance:

One of the recent additions to the insurance products is the unit linked insurance schemes. These unit linked insurance schemes are the ones that are selling like hot cakes. There are various reasons for this to be happening. The most important factor for the popularity of the unit linked insurance scheme is the very high return that can be expected from the scheme. This is more of n investment and less of an insurance scheme. The money paid by the investor is used to purchase units in the equity market and this helps the money of the person to grow. A part of the money invested is used as premium for the insurance coverage.

These are some of the most important insurance schemes that are available. There are various modifications in these schemes with some schemes having high risk and high return for the investor and others having low risk and low return for the investor.

Article Source: http://www.saching.com

About Author / Additional Info: I have completed my Masters Degree in Paediatric Nursing. I am a writer with a passion for writing. I have been writing for some blogs and other sites. Comments are welcome at the following e mail address: deenaanddavid@gmail.com

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