Term insurance is a must buy for bread earners of the family

[debashree]

Term Life Insurance in India – essentials

Term insurance is the pure form of life insurance, wherein the policyholder pays a premium to cover his/her death risk for a particular sum of money for a particular term i.e.15, 20, 25, 30 years and so on . On demise of the policy holder within the term, the nominee (the beneficiary) is entitled to get the sum assured in lump sum or deferred manner as mentioned the policy contract. If the policy holder survives the term he is entitled to no payment/ #maturity benefits. This policy is highly recommended for the earning members of the family with dependents.

[Amol]

Term insurance is a life insurance plan offered by an insurance company that provides comprehensive financial coverage against premiums paid for a limited period to the beneficiary of the policy, this coverage is paid as death benefit upon the demise of insured during the policy term.