Term Insurance
Help Protect Your Loved Ones With Affordable Life Insurance
What are 3 benefits of term insurance?
Following are the primary benefits of term life insurance that you can avail by buying term insurance: High Sum Assured at Affordable Premium. Easy to Understand. Multiple Death Benefit Payout Options.
What is a term for insurance?
Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified “term” of years. If the insured dies during the time period specified in a term policy and the policy is active, then a death benefit will be paid.
What are 3 benefits of term insurance?
Following are the primary benefits of term life insurance that you can avail by buying term insurance: High Sum Assured at Affordable Premium. Easy to Understand. Multiple Death Benefit Payout Options.
Can you cash out term life insurance?
Term life is designed to cover you for a specified period (say 10, 15 or 20 years) and then end. Because the number of years it covers are limited, it generally costs less than whole life policies. But term life policies typically don’t build cash value. So, you can’t cash out term life insurance.
How does a term insurance work?
Term insurance is a type of life cover, which offer coverage for a pre-defined period or term. If the policyholder expires during this period, the nominee of the policy will receive the death benefit. No benefit will be paid to the policyholder if he/she survives the policy term.
What are the types of term insurance?
- Level Term Plans.
- Increasing Term Insurance.
- Decreasing Term Insurance.
- Return of Premium Term Insurance.
- Convertible Term Plans.