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What is Term Insurance?
A term insurance plan or a term plan is a type of life insurance plan which provides cover to the policyholder only for a specific period of time. Since protection is offered for a specific time period, these plans are also known as protection plans. Provided the policy is in force and all successive premiums have been paid, if something happens to the policyholder, the policy will provide death benefits to the…Continue
What is a term insurance policy?
Term insurance plans are especially designed to offer a pre-decided sum assured to the policy’s beneficiary on the unexpected death of the policyholder during the policy tenure. This is known as the Death Benefit. In case the policyholder survives through the policy tenure, the insurance company is not liable to pay the sum assured to the policyholder or the beneficiary when the policy matures. This means that term insurance…Continue