Term insurance plan is a life insurance policy which offer you financial coverage in case of loss of life during the term. You pay a yearly premium against the policy to the insurance company.
A level term insurance plan is simple. There is a fixed sum assured during the term. This sum is offered to the family if the insured dies within the policy tenure.
The coverage of an Increasing term insurance plan increases every year. Whereas the coverage for decreasing term insurance plan decreases every year.
A term insurance plan with a return of premium options is when the entire premium paid towards the term insurance plan is returned to the insured by the insurance company, at the end of the policy tenure, provided the insured survives.
A single-life is a regular Individual term insurance plan. A Joint Life Term Insurance plan is best suited for couples with children. They offer the same advantages and benefits to both the policyholders.
Death Due to Natural Causes
Death Due to Accident
Death by Suicide
Death while participating in a malicious activity
Death due to consumption of drugs/alcohol
Non-disclosure of Material Fact
High Coverage at Low Cost
Safety for Loans and Liabilities
Claims Payout Option
Waiver of Premiums
Covers Critical illness
Premium paying mode