A wide range of insurance products are available in the market. Each insurance product is different from the others having some unique attributes which are devised to meet specific needs of different individuals. However, with such a wide range of products available, it becomes very difficult for an individual to choose an insurance plan that is best suited to meet his requirements. Based on the financial plans and needs and one's affordability to pay premium, an individual can choose any of the plans available in the market. Some of those plans are listed in the table below:

Need / Purpose	Recommended Insurance Plan	Best Suited for
Savings & capital appreciation Protection (Risk cover)	ULIP	Moderate to high income Have dependents
Security to dependents Risk cover	Term policy	Young individuals Low income Have dependents
Child's future studies Child's marriage	Children plans	Couples having small kids
Retirement Benefits Risk cover	Pension plans	Persons aged above 40 Persons not having a pension provision from their employer
Risk cover Periodic payments	Money back policy	Persons having recurring financial requirements Low to moderate income
Risk cover Savings	Endowment Plans	Requirement of fixed sum after lapse of certain period