Life insurance is a form of insurance  between an insurer & insurance policy holder, in which a insurer makes regular payments to an insurance company, in return for a sum of money to be paid to them after a period of time, or to their family if they die.  The greatest benefits of life insurance is to provide for those you leave behind. This is especially important if you have a family that is dependent on you. 

Term Plan : It is the most basic type of insurance.- It covers you for a specific period.- Your family gets a lump-sum amount in the case of your death.- If, however, you survive the term, no money will be paid to you or your family. 

Endowment Plan : Like a term policy, it is also valid for a certain period. - A lump-sum amount will be paid to your family in the event of your death.- Unlike a term plan, you get the maturity proceeds after the term period. 

ULIP : ULIPs provide a life cover, along with investment in equities, debt market, and others. In case of the insured person’s demise, the nominee gets the sum assured or fund value, whichever is higher.