Term Insurance

by IFSC Code on June 27, 2011

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Term Insurance Guide

Term insurance is a pure life cover low cost insurance with high risk cover at fixed payments for a limited period of time(such as 10, 20, or 30 years). When compared to permanent life insurance, initially term insurance is less expensive and high returns. By given period of time term life insurance provides a better amount of protection against the death of an individual. Peoples who are looking for insurance plan on short term basis can get more benefit from term insurance.

This policy provides temporary plan coverage, death benefit (accident or normal during policy period), high maturity amount, tax benefit etc. A few of term insurances are convertible which means it can change as permanent type of insurance without any medical exam for getting higher returns. The five types of term insurances are deposit term insurance, re-entry term insurance, renewable term insurance, convertible term insurance and non-convertible/non-renewable term insurance.


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