What is Term Life Insurance?
An affordable insurance plan which provides your family financial support and security at the time of your death for a specified duration of 5 to 30 years depending on your choice. The choice of premium payment basis is in your hands; you can opt for a monthly, quarterly, semi- yearly or yearly premium payment basis. At the event of your death, the insurance company pays the beneficiaries a death benefit considering that all the premiums have been settled and the death occurs during the allotted term. Term life insurance is flexible and considered much cheaper than permanent life insurance.