Term Insurance

Purpose:
A pure protection plan designed to provide high coverage at affordable premiums.

Key Benefits:
• Coverage for a specific term, such as 10, 20, or 30 years.
• Provides financial protection to dependents in case of the policyholder’s untimely demise.
• Ideal for individuals looking to replace income or cover liabilities like loans and mortgages.
• Premiums are typically lower compared to other types of insurance.
• No maturity benefits if the policyholder survives the term unless it’s a Return of Premium Term Policy.

Purpose:
Offers the same high coverage as a regular term plan but refunds all premiums paid if the policyholder survives the term.

Key Benefits:
• Combines protection with a savings element by returning the premium amount at the end of the term.
• Provides life cover during the term, ensuring financial security for dependents.
• Returns premiums paid (excluding taxes and additional charges) if the policyholder outlives the policy term.
• Ideal for individuals who want life cover but dislike the idea of “losing” premiums in a regular term plan.