If you want to understand someone, know Human Humanity

If you want to understand someone, know Human Humanity

This kind of understanding of a person can be understood by all the mental aspects of a person

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Religion Desk, Ahmedabad: It is said that no one knows what is happening in someone’s mind. But this estimate is known by its gestures and reactions. Often someone gets angry at a small perspective, or is reacting differently. Because he can not show his mind. These are Human Psychology. It is not easy to understand. That is why today we have brought you some facts that are related to human psychology, through which you can learn what is going on in the mind of the opponent.
Term Insurance Plans:

These are plans which provide life cover for a fixed period of time. They can be either long-term or short-term plans, with the term ranging from a minimum of 5 years to a maximum of 60 years (or more) in certain cases. The insured individual is protected during this term, with the insurance company paying his/her nominee the sum assured on his/her death during the policy term. No protection is provided if the insured dies after the term.

These can be considered as the simplest insurance plans available. While they are affordable, they might not be the ideal option, for there is no protection after the said period of time. These plans do not provide a maturity benefit in almost all cases. One should consider these plans if he/she foresees their demise within a specific period (though it would be close to impossible to predict the accuracy). This could be viewed as ‘temporary insurance’, and is also referred to as pure life plans by certain insurers.

Unit Linked Insurance Policies (ULIPs):

Individuals looking for protection plus returns can consider unit linked insurance plans. These policies are ‘linked’ to market products like mutual funds, bonds, stocks, etc. There is a certain amount of risk associated with ULIPs, with this risk falling on the policyholder.

Most insurers invest a certain portion of the premium into market units, keeping the remaining portion aside for the base sum assured. It is important to keep an eye on the performance of the funds, for the returns could be negligible if there is a market crash. As such, the choice of insurance company is critical. ULIPs can be a smart option for the savvy investor who wishes to invest in a life insurance policy. Insurance companies have dedicated fund managers who oversee the investment.

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