LIFE INSURANCE

Group member:
Osama khan 12099
Muhammad Zeeshan 12399
Abdul majid 12094
Life insurance

■ Life insurance is a contract between you and an insurance company. You pay premiums,
and in exchange, the company promises to provide a lump sum payment to your
beneficiaries upon your death. It's a financial safety net for your loved ones.
■ 6 types of insurance
■ Whole life policy
■ Endowment plan policy
■ Joint life policy
■ Pension policy
Whole Life policy

■ Amount will be paid after the death of assured to nominee.

■ In this, the amount payable to the insured will not be paid before the death of the
assured.
■ The sum becomes payable only to the beneficiaries or heir of the deceased.
 Endowment plan policy

■ The endowment policy matures after a limited number of years.

■ The insurer (Insurance Company) undertakes to pay specified sum when the insured
attains a particular age or on his death whichever is earlier.
■ The sum is payable to his legal heir/s or nominee named therein in case of death of the
assured.
Joint life policy

■ This policy is taken up by two or more persons.

■ The premium is paid jointly or by either of them installments or lump sum.
■ The assured sum or policy money is payable upon the death of any one person to the
other survivor or survivors.
■ Usually this policy is taken up by husband and wife jointly or by two partners in a
partnership firm where the amount is payable to the survivor on the death of either of
the two.
Pension policy

■ Under this policy, the assured sum or policy money is payable after the assured attains a
certain age in monthly, quarterly, half yearly or annual installments’
■ premium is paid in instalments over a certain period or single premium may be paid by
the assured.
■ This is useful to those who prefer a regular income after a certain age.
Children's Endowment Policy

■ This policy is taken by a person for his/her children to meet the expenses of their
education or marriage.
■ The agreement states that a certain sum will be paid by the insurer when the children
attain a particular age.
■ The premium is paid by the person entering into the contract.
■ However, no premium will be paid, if he dies before the maturity of the policy
unit-linked insurance plan

A unit-linked insurance plan is a product offered by insurance companies that, unlike a pure
insurance policy, gives investors both insurance and investment under a single integrated
plan. Unit-linked insurance plans are long-term investment instruments with a minimum
lock-in period of 5 years.
Benefit life insurance

1. Financial Protection: Insurance provides financial support in case of unexpected events,

ensuring that you can maintain your standard of living.
2. Risk Management: Insurance helps manage risks by transferring them to the insurer,
providing peace of mind.
3. Security: Insurance offers protection against unforeseen events, giving you a sense of
security.
4. Business Continuity: Insurance helps businesses recover from losses, ensuring continuity
and stability.
Who needs life insurance ?

1 : Long-Term Planning: Insurance provides long-term planning, ensuring that you are
prepared for the future.

2: Business Protection: Insurance protects businesses from losses, ensuring continuity and
stability.
3: Protection from Uncertainty: Insurance provides protection from unexpected events,
ensuring that you are prepared for the unknown.
THANK
YOU
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