In life insurance market, common types of policies widely available are Endowment,Money back, Whole life, Term insurance and health insurance. You can choose as per your suits-liking - body types and in view to your budget pocket and money available. Again we are repeating that once you buy life insurance premium policy once then you have to pay Premium money amount on regular basis per annum or mode of payment - frequency in yearly basis. 

Endowment type:- As specified and read - To Endow means gifting to self or to other one whom do you want to give in form of life insurance policy. Premiums are fixed but need to pay premium till the term of policy. Currently GST on default premium adding. Service tax for first and second year are differences but customer need to pay premium with GST service tax thru out the period Term of policy. Endowment is commonly selected as bonus added to your premium you pay to insurer. In maturity, you will get final maturity amount. Maturity meaning policy gets over and you will get final amount in hand. Life insurer give you Risk coverage called as sum assured and bonus on premium which you are paying to life insurer company. Endowment is most traditional way to get life insurance. Bonus added in chosen period of premium. One of the ideal way and conventional simplified way of life insurance. 

Money back plans:- In every five years you are getting money back till term of plan exist. This is also oldest traditional plan. Finally, at the time of maturity, all term bonus added. Money back is also called as Survival benefits. Means amount only you will get thru neft bank mandate way. Now days remake of all earlier few decades past , insurance plans are coming in new form now and give some changes only. 

Whole life plan:- This is had oldest plan history of back. And bonus which your are getting is more than any other plans but maturity period is longest life till in 80 years onwards you will get money till survive for longer period. One of the best values of life but need to keep for longer term of life. Also gives kind of coverages. Better to take one with less premium and less sum assured to get protected till Life time. If survive till life expectancy long period of life, you will get good kind amount in low value of premium amount. Advisable to have in portfolio in low value of premium amount and less risk coverage for better work in life time effectively. We, trust and like this plan. In new form of whole life plan is available in Insurance Market now. Name could be different but type is of whole life only. Also gives returns money back after some period of time till longitivity. 

Term insurance :- We don't sell this plan although it's having less amount of premium and gives more risk coverage sum assured. You require mastery to handle claim if it happens. Because if death happens then scrutiny verification paper works and authentic documents need to furnish as you can't cheat life insurer. For hazardous profession where death can occurance chances their to safeguard life of family members , can take this plan but only genuine fact-finding and natural tendency where majority of death happens there it goes correctly not for everyone. Only types of hazardous profession people only entitled to have this Term insurance plan. 

Health insurance:- If you are knowledge based person and you know insurance terminology, what way health insurance claim settlement happens on branch office level then think of but you requires understanding of various diseases, hospitable charges , cash less or any charges, form of mediclaim sort of but you should know better of health insurance claim settlement in branch level. We don't know anything about health insurance as we don't have any information on branch office level claim settlement also if patient get discharge and if health insurance policy holder getting cash less facility or not that true truth we don't know. What way health insurance claim settlement happens that really don't know.