Life Insurance vs. General Insurance: Understanding the Differences
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Table of Contents
Understanding Life Insurance
Understanding General Insurance
Scope of Coverage
Policy Duration and Premiums
Investment Component
Purpose and Benefits
Regulatory Framework
Flexibility and Customization
Claim Settlement
Complementary Nature
Conclusion
About Author
FAQs on Life Insurance vs General Insurance
for Salaried Individuals¹
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Disclaimer
ABSLI Salaried Term Plan (UIN:109N141V01) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
# Provided all due premiums are paid.
1LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Premium paying term: 10 years, Annual Premium: ₹ 5900/- ( which is ₹ 491.66/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
ADV/11/23-24/2592
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