Accident Insurance, Health Insurance and Term-Plan Insurance
Sum assured is payable against injuries/disabilities/death/other related expenses caused by accident, subject to exclusions and individual limits. Premium amount is cheaper compared to other policies. Premium is fixed on the basis of nature of job and/or work profile.
Sum is available for hospitalisation expenses during the life of the insured. Premium is relatively high. Premium is fixed on the basis of age, health history, lifestyle, etc.
Sum assured is payable only on death of the insured. Sum assured is huge and taking this into account, the premium is reasonable. Premium is fixed on the basis of age, nature of job and/or working conditions, health history, lifestyle, etc.