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Insurance articles & guides

Plain-language explainers to help you make confident insurance decisions.

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Insurance Basics: every term explained simply

Endowment, whole life, sum assured, bonus, surrender value and more, one short guide at a time.

Read the guides A–Z glossary

LIC & Life Insurance 2 min read

How Much Life Insurance Cover Do You Really Need?

A simple, practical way to work out the right life cover for your family, without being under-insured or over-paying.

Insurance Basics 4 min read

What Is an Endowment Plan? A Simple Guide

An endowment plan gives your family life cover and pays you a lump sum if you survive the term. Here is how it works, who it suits and its pros and cons.

Insurance Basics 4 min read

What Is Whole Life Insurance? Cover for a Lifetime

Whole life insurance keeps you covered for most of your life, often up to age 100, and some plans also pay a yearly income. Learn how it works and who it suits.

Insurance Basics 4 min read

Money Back Plans Explained in Simple Words

A money back plan returns part of the sum assured at regular intervals while keeping your family covered. Learn how payouts and the death benefit work.

Insurance Basics 4 min read

What Is Term Insurance? Pure Protection Explained

Term insurance gives your family a large payout if you die during the policy term, at a low premium. Learn why it is so affordable and which cover option to pick.

Insurance Basics 4 min read

Pension and Annuity Plans Explained Simply

Annuity plans turn your savings into a regular pension for life. Learn what purchase price, immediate and deferred annuity, and joint life options mean.

Insurance Basics 4 min read

ULIP Explained: How Unit-Linked Plans Work

A ULIP combines life cover with market-linked investment. Learn about NAV, fund choices, charges and the 5-year lock-in, and why the investment risk is yours.

Insurance Basics 4 min read

Child Insurance Plans Explained for Parents

Child plans help you save for your child's education and future. Learn the difference between insuring the child and insuring the parent, and how premium waiver works.

Insurance Basics 4 min read

Sum Assured, Policy Term and Premium Paying Term Explained

Basic sum assured, sum assured on death, policy term, premium paying term and entry age, explained in plain words with LIC examples.

Insurance Basics 4 min read

LIC Bonus Explained: Reversionary, Final Additional & Guaranteed Additions

What LIC bonuses are, how simple reversionary bonus and final additional bonus work, and how guaranteed and loyalty additions differ.

Insurance Basics 4 min read

Insurance Riders Explained: LIC's Optional Add-On Covers

A rider is an optional add-on to your LIC policy for a small extra premium. Here is what the common LIC riders cover, in simple words.

Insurance Basics 4 min read

Surrender Value, Paid-Up Value and Policy Loans Explained

Need money or can't pay premiums? Learn how surrender value, paid-up value and LIC policy loans work, and why surrendering early usually costs you.