Meaning, Need, Functions Development of Life insurance in India.

Whole life policies/plans(with profit),the limited payment, ,The single premium limited premium payment Convertible whole life policies.

Endowment assurance policies : The endowments assurance (without profit),with profit, single premium (without profit),Limited payment with and without profit

 Combination of whole life and Endowment plans, children’s assurance plans. Distinction between endowment and whole life policies

Term Insurance: Meaning, straight term,(temporary), Renewable term, Convertible term, Term plan Vs. traditional plan .

Annuities : Definition, Need, Annuity Contract Vs.Life insurance, Classification of Annuities.

: Definition, Characteristics, Group Insurance Vs Individual insurance, Insurable groups, Principles of Group insurance, Advantages of Group Insurance scheme, Group insurance scheme of LIC

: Features of ULIP, Net Asset Value (NAV),ULIP Vs. Traditional Plans, Charges, Annuities and Pensions.