Whole life insurance policies are very similar to term insurance plans. This is a term plan with an unlimited term. As the name suggests, a whole life policy is an insurance cover against death, where the sum assured is payable only on death, whenever it may occur.
Under this plan, the policyholder pays regular premiums until his death (till a claim arises), following which the payment is made to the nominee or the claimant. Although, in the case of Whole Life policies, the sum assured is payable only on death, many insurance companies pay the sum assured, when the life insured reaches a particular age. Earlier a lot of insurance companies used to make this payment at the age of 100 years and recently many have dropped it down to 75 years.
- Whole Life Insurance Plans from different Insurance Companies
- Bharti AXA Life Elite Secure
- Canara HSBC Oriental Bank of Commerce Life Stay Smart Plan
- HDFC Single Premium Whole of Life Insurance Plan
- Kotak Eternal Life Plans
- LIC - The Whole Life Policy
- LIC - The Whole Life Policy- Limited Payment
- LIC - The Whole Life Policy- Single Premium
- LIC - Jeevan Tarang
- Max New York Whole Life Participating
- Met 100
- Reliance Whole Life Plan
- Tata AIG Life MahaLife Gold