Term Plan In Life Insurance- An Ultimate Guide For Selection
PNB MetLife 30-12-2016 11:59:50 AM
The Term Insurance policies are a segment of life insurance policies which are gradually gaining popularity. They are touted to be the most basic form of Life Insurance Policies.Read More
The main reason for its lack of popularity is probably the lack of publicity that is given Life Insurance Companies and their agents.
The policy basically gives you coverage against sudden financial loss on account of the death of the breadwinner of the family. The amount that is given out as payout is predefined in the terms of insurance.
The Insurance can be spread out over a period of time. If the insured dies during said time period, the beneficiaries can claim the payout. On the other hand, if no claim is made, there will be no payout. These policies also come with maximum issue ages. Hence, if you are above the specified age point, you will not be eligible to take a Term Life Insurance.
Life Insurance Term Plans have no strings attached. Its basic approach and inexpensive pricing, makes it a good choice for almost everyone.