About Term Insurance
Term Insurance is a type of life insurance that provides financial protection for a fixed period (term) for example, 10, 20, or 30 years.
The policyholder pays a premium to the insurance company and If the insured person dies during the policy term, the sum assured is paid to the nominee.If the policy term ends and the insured person is alive, no maturity benefit is paid.It offers high life coverage at a low premium.
Key Features:
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High coverage at low cost
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Simple and transparent
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Ideal for income replacement, family protection, loan coverage
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Tax benefits (in many countries)
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Riders (optional) can be opted : Accidental death, critical illness, waiver of premium