1. All in One (Package)
In every ILP, we need to have basic coverage which is the Life. Every insurer may allow you to have different Life Insurance Coverage Amount/Sum Assured subjected to their underwriting guideline. No matter what is the amount, this life coverage is a must. Other benefits in an ILP will be categorised as riders. Example of riders are Hospital & Surgical benefit which is more commonly known as medical card, hospital income and etc. Others are Critical Illness, Personal Accident, Waiver of Premium and more.
Note that while there are a lot of different riders available from insurers, they could be easily categorised into four categories as listed. We invite you to survey with products available and try to identify yourself.