Need A Financial Product Forums Insurance What is a term insurance plan?

This topic contains 1 reply, has 2 voices, and was last updated by  Nina Thakkar 3 years, 4 months ago.

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    Nina Thakkar

    What is a term insurance plan?


    Term Insurance plan is the very basic policy offered by the life insurance industry. In This simplest form of insurance Life insurance companies offers to pay a specific sum which is insured or the benefits of the death, in the case when policy holder expires during the term of the plan. In case the policy holder survives the duration of the plan then he won’t be entitled to any maturity, i.e. the policy holder won’t receive anything and there is no maturity benefit provided with this policy. So in other words the term insurance policy offers only the benefits of death under death cover in the event of death of the life insurance policyholder during the term of the plan. plan under term insurance are : (a)LIC’s Anmol Jeevan II (b)LIC’s Amulya Jeevan II

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