Insurance And Investment

Perhaps the title of the article may be confusing for many as they can be under the impression that these two words have nothing in common and fairly represent two totally different ideas or thoughts.
It was quite true in India a few years ago when the insurance was not opened to foreign investors and economic reforms have not been implemented. In the pre reform era there was only one life insurance company in India - LIC, Life Insurance Corporation of India. It had a monopoly in the industry and the public funding and support.
Being the only player on the market, it was nothing special in the kind of politics - as a product. Whatever was available, at what price and in whatever form, was sold and bought? It has no options, and customers were required to purchase these products.
At the time, especially long-term plans, life, long-term plans - known as long-term measures or whole life policies are mainly sold by the LIC. It had a strange term that ranges from 20-35 years. The only thing special about LIC plans was that they were available at the meager cost, very low monthly payments, etc. They were quite within reach of the average person. So people did not buy them with eagerness, but for having no insurance, or in many cases not even knowing the reason purchases. There was only one aspect of saving some money, without thinking about the return on it.
Natural as the insurance was never intended as an investment avenue, there was no one big return on it. People were happy with what 6 -7% return they were given during the course of 20-35 years. Therefore, insurance has never been considered as an investment option in India recently.
Financial reforms in India, including insurance reform opened the doors for foreign investors and the Indian market was flooded by the number of experienced, developed, world-known insurance players from the world.
This reform process has benefited greatly from the Indian customers in different ways.Entirely new types of plans, tested around the world were made available to them.Competition in the market, improved customer service to LIC forced into bankruptcy.Access to several products that made it possible to compare benefits and cost structure, which was unknown to them until now. Before the insurance reform hardly any known costs for LIC policies, and no one cared about it too.
The most important factor to change was the introduction of unit-linked policies. These are the new products can be where people think of earning higher returns, even more than the fixed deposit rates of the nationalized banks in India in the medium to long term plans. As unit-linked policies offer higher returns, of course, that means greater risk, too.But no one can think of high returns without risk. These are related to the stock market and the high volatility and the volatility of an impact on the valuation of the units - called NAV-net asset value. But experience teaches us that despite the costs and risks in it, there will be more profitable for the investor. Investor can look at insurance as a way to earn higher returns, as an investment avenue. It can easily be integrated in the investment portfolio of common man.
ICICI Prudential Life Insurance Company, the leader and the Number One private insurance companies, since its inception, has maintained its leadership in the industry in India because of its best products, efficient service, customer-friendly approach, prudent investment policy and so many other factors. The policyholders of ICICI Prudential Life Insurance has been rewarded with high and reliable yield. Therefore, today in India now even the common man's idea to make sure the policy is also changing. It is not only regarded as coverage of the risk of death, but also estimates of the premium paid over the term of their lives, so that he can enjoy the benefit of insurance for life. There is no use of it to the mover after his death.
So ICICI Prudential life insurance provides convincing high yield of pleasure in life - "Enjoy the wealth generated during Lifetime" 

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