Life Insurance Jargon Buster

Overview:

Know and Understand the keywords related to the insurance world.

  1. Life Assurance or Life Insurance:

It is a financial commodity that provides levels of financial protection to your family in case you die during the insurance term.

  • Cover

The cover indicates the security provided by the insurance company.

  • Critical Illness Cover

A Critical Illness Cover is a special type of life insurance that provides a payout in case the policyholder is diagnosed with a critical illness included in the policy terms and conditions.

  • Level term insurance

In the case of level term insurance, a fixed amount (level) cover is provided to the family of the policyholder, should he or she die during the insurance terms. 

  • Decreasing term insurance

Also known as Mortgage Protection, the value of the payout in case of decreasing term insurance gradually decreases over time.

  • Premium

It is the term used to define the monthly payments that are made by the policy-holder towards his or her insurance policy.

  • Income Protection Insurance

This insurance makes sure you are provided with a monthly income in case you are unable to work regularly due to illness or injury.

  • The whole of Life Insurance

Also known as ‘permanent life insurance’, this insurance covers you for a lifetime and provides your family with a payout no matter when you die.

  •  Joint Life Insurance

This type of life insurance protects two people under one policy.

  1.  Policy Papers

This is a document that will be provided to you once you have purchased an insurance policy. These policies (documents) will include all the terms and conditions of the policy as well as your policy details and schedule.

We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00

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