Term Insurance is a protection plan which provides financial protection to the insured’s family in case of his/her unfortunate demise. After that policy period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions.
Benefits:
- Death Benefit: In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.
- Maturity Benefit: On survival to the end of the policy term, nothing shall be payable.