Feb 18, 2023
Term Plans
A term plan is a specific type of life insurance policy that provides protection for a definite period of time or ‘term’. In the event of the unfortunate demise of the insured person during the specified term, the insurance company pays the beneficiaries of the insured a pre-determined sum of money.
Term plans are the most economical plans out of all life insurance policies as they provide life cover at cheaper premiums. It provides coverage for a defined period in exchange for a specified premium amount.
