Description

Term insurance is pure protection life insurance policy. It provides coverage for a defined period in exchange for a specified premium amount. In case of an unfortunate event during this time-frame, the insurer provides a guaranteed^# payout. It compensates your nominee for the loss of your income.

Life Insurance: Benefits Compared. Nowadays, it is very important to have insurance coverage to deal with the uncertainties of life. With the escalating need for insurance policies, there are a plethora of insurance products available in the market.

Term insurance plans provide financial security to the family of the beneficiary in case of death of policy holder and also get optional coverage for critical illnesses or accidental death. Affordable premium, life coverage with financial security and income tax benefits is an important feature of term insurance plans.

A term insurance plan will help the family to meet their day to day expenses and accomplish the long-term financial goals too. Yes, it is worth buying a term insurance policy no matter what year it is. When compared to other types of life insurance products, a term insurance policy is much beneficial.