Insurance(Term/WholeLife)
Definition
Term insurance provides pure life cover for a specified period at affordable premiums — if the policyholder dies during the term, the nominee receives the sum assured. Whole life insurance covers the policyholder for their entire life and includes a savings/investment component, but premiums are significantly higher than term plans.
Example
A 30-year-old can get Rs 1 crore term cover for approximately Rs 10,000-15,000 per year, whereas a whole life policy for the same cover would cost several times more.
Acornia Investment Services Pvt Ltd (ARN: 192746) is an AMFI Registered Mutual Fund Distributor & SIF Distributor. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Investments in Specialized Investment Fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility. Please read all investment strategy related documents carefully before making the investment decision. The information on this website is for general informational and educational purposes only and does not constitute financial advice or a recommendation.