In today’s risky environment every person craves to secure himself and his family. There are varieties of products where you can invest ranging from Mutual funds, PPF as well as Insurance policies which have always been popular. Deciding to go for insurance policies is only half a battle won, as there are so many different types of Insurance Policies available that to choose the right one is really a daunting task.

Types of Insurance Policies

A variety of insurance policies provided by different insurance companies is available. Let us check few on broad terms to get a better idea.

Term Life Insurance: Term life insurance provides coverage for a specific time period. After the stipulated time frame, the policy holder can either close the policy or extend it. If the policy holder expires within the term period, then the nominee is entitled to receive the benefits. Normally this insurance plan is quite cost efficient and affordable and it enables the policy owner to pay a low monthly premium amount, based on the time frame and the amount of the coverage that you want.

Whole life insurance: This policy differs from the Term Life insurance in the sense it gives coverage not for a stipulated time frame but for your whole life. In this type of policy, the insured pays the premium from the date of issue till death. On death, the named beneficiary gets the face value amount. This policy can be used as an asset and some polices also allow the holder to take a loan from the amount accumulated in this policy.

Money back insurance: Money back insurance plans are now gaining popularity for those who do not wish to wait for a stipulated period or whole term period to get the amount. In Money Back policies, the policy holder tends to get periodic payments during the term of the policy even when he is alive.

Apart from these major insurance policies, the insurance market offers many other policies, ranging from Family, Children, Senior people and Business Life Insurances. There are yet others ranging from Mortgage to No medical examination or Accidental Death Insurance and Permanent, Universal and Variable Life insurances available too.

types of life insurance policies

Benefits of Term life insurance calculator

To know if you are on the right track in choosing the right policy, it is advisable to calculate to check if the policy is beneficial to you in the long run or not. These calculations can be carried out manually but with the advantage of  Internet and technology, and growing trend of shopping for insurance policies online, an impressive tool called “Term life insurance calculator” is available at your disposal.

When choosing a policy you need to know the level of coverage or the time frame and the amount of money you will be paying out in premiums annually. These used by be told to you by an insurance agent or broker but now with this impressive tool you can come to an accurate estimate and adjust your comments to recalculate as you wish.

• It operates and calculates wholly on the basis of certain answers that you give

• It is neither complicated nor takes a longer time to give us the results

• Even computer novices can run it

• The results are trusted as they are based on personal info that you give as per your income and expenditures.

• Helps you in determining your coverage needs and assure you of the decision taken.

The Term Life Insurance Calculator is really a boon ensuring that you are not wasting your hard-earned money as well as getting the right coverage which is so important in today’s times. So shop around for the right policy, use the calculator and come to the right decision.