Term Apper

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TERM PAPER : (Term 2 -2009-2010)

TOPIC : CARVING A WHOLE LIFE INSURANCE POLICY AND COMPAIRING IT WITH THE EXISTING POLICIES OF 2 PRIVATE AND PUBLIC COMPANIES

SUBJECT : PERSONAL FINANCIAL PLANNING

SUBMITTED BY : NANCY SINGLA

ROLL NO : RS1903A10

SUBJECT : MGT 636

SECTION : RS1903

SUBMITED TO : MR. LALIT BAHRDWAJ

Lovely School of Management…. Date: 13/11/2010

ACKNOWLEDGEMENT

I take this opportunity to present my votes of thanks to all those guidepost who really acted as lightening pillars to enlighten our way throughout this project that has led to successful and satisfactory completion of this study.

I am highly thankful to Mr. LALIT BHARADWAJ for his active support, valuable time and advice, whole-hearted guidance, sincere cooperation and pains-taking involvement during the study and in completing the assignment of preparing the said paper within the time stipulated.

Without the active participation of our teachers it would have been extremely difficult for me to prepare the project in a time bound framework.

WHOLE LIFE PLAN

Life insurance which provides coverage for an individual's whole life, rather than a specified term. A savings component, called cash value or loan value, builds over time and can be used for wealth accumulation. Whole life is the most basic form of cash value life insurance. The insurance company essentially makes all of the decisions regarding the policy. Regular premiums both pay insurance costs and cause equity to accrue in a savings account. A fixed death benefitis paid to the beneficiary a long with the balance of...