Mainly there are three types - Term Life Insurance, Whole Life Insurance & Savings Plan.

Your Risk Cover should depend upon 3 things :

1. How much debt you have.
2. Income Replacement.
3. Insuring Others.

Usually the amount of insurance cover provided by the employers is guided by the terms of employment and not by the employee’s insurance requirement. Which is why, more often than not, there is a mismatch between the employee’s insurance requirement and the employer’s offer. First assess your life insurance requirement, and then check if the cover under the group policy is adequate. If it falls short of your requirement, top it up with an extra cover. Do keep in mind that if your company is trying to cut costs or if you quit, you may no longer be covered. For that reason alone, it is prudent to buy an individual life insurance policy.

Most useful riders in Life Insurance are :

1. Waiver of premium rider (In case you become totally disabled).
2. Disability Income Rider
3. Guaranteed Insurability Rider (In case you need more insurance but your health has declined).
4. Term Conversion Rider (In case you want to convert term life to permanent insurance).
5. Accelerated Death Benefit Rider (In case you become seriously ill).
6. Critical Illness Rider
7. Child Protection Rider (In case the unthinkable happens).
8. Accidental Death Benefit Rider (In case you die from an accident).
9. Return of Premium Rider (In case you outlive your term life policy).

Buying term insurance online from bankonus will have following benefits :

1. Facility to compare & choose.
2. Speed & Security.
3. Lower Premiums
4. Safer Payments
5. You will be saved from Misselling.