Term Insurance in India
Term Insurance is a life insurance policy that provides coverage for a specific period (term). If the insured passes away during the term, the beneficiary receives the death benefit. It is the most affordable form of life insurance.
Key Features:
- Provides financial protection to family in case of the policyholder's untimely demise.
- No maturity benefits; only death benefits are provided.
- Premiums are generally lower compared to other life insurance policies.
- Both health and term insurance are essential for securing financial well-being and mitigating risks related to health and life uncertainties.