Term Insurance: Overview

Term insurance is the oldest form of insurance and is the least expensive plan to purchase the death benefit. It is a no return plan just like your mediclaim or car insurance cover. If claim comes within the insured period, the nominee will get the full sum assured or otherwise there is no maturity value or cash value of the plan. Term Insurance provides coverage for a specific period or term say 10,15,20, 25 years. Term insurance is the simple type of life insurance and easiest to understand. You need not have to calculate the charges and returns in this plan, as you know from the day one that premium paid by you is not going to come back.

Life Insurance                                General Insurance

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