Term Plans

Term Plans

Term insurance is the purest form of insurance. During the time policy is in force, the insured pays a fixed premium to the insurance company at regular intervals. This is called premium, and if during this time if the insured dies, the insurance company pays a guaranteed amount of money, known as sum assured, to the family of the insured. In case the insured survives the period of insurance, the policy terminates and nothing is payable to the insured. All the premiums paid till date go to the insurance company. Hence term insurance products offer only risk cover without any returns or any maturity value. These policies are relatively much cheaper when compared to traditional insurance products and cater to the specific needs of an individual, i.e., to cover the risk of death. Term insurance is provided by almost all life insurers.

When an individual starts earning, he is expected to earn till the time he retires and his family is dependent on his income. With his recurring income and his savings, he fulfills his various financial goals. However, life is uncertain and an unfortunate event such as death or permanent disability can cease his capacity to earn. Hence every individual is required to protect his family against any unfortunate attached to his life so that his family continues to enjoy the same standard of living even if he is not alive.

Term insurance allows individual to take huge sum assured with small premium

There are different plans available; we help you choose the right plan for you.