💨 Abstract

Life insurance policies can be a valuable addition to wealth management, offering life insurance and financial resources. Four main types exist: term, whole life, endowment, and Unit-Linked Insurance Plans (ULIPs). Term insurance provides coverage for a specified period, while whole life insurance offers lifetime coverage with a savings component. Endowment plans combine insurance and investment, and ULIPs invest premiums in equity or debt markets for wealth creation.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖