Term Life Insurance Plan

As the name suggests, these policies are bought for a fixed period of time and usually carry cheaper premiums as compared to other life insurance policies because of the absence of maturity benefits. It is a kind of life insurance which provides a death benefit to the nominee only if the life assured dies within the term of the policy. If the insured one outlives his policy, no amount is payable to the nominee by the insurance company. 

The various types of Term Insurance Plans are:

The benefits of opting for a term plan are as follows:

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