Pure Protection
Affordable term life insurance with pure life cover for a specified period, ensuring financial security for your loved ones.
Pure Protection
Term Life Insurance
Term plans are a type of life insurance that provides coverage for a specified period (term). If the policyholder dies during the term, the nominee receives the sum assured.
Key Features:
- Pure Protection: Focuses on life cover, no savings component typically.
- Fixed Term: Coverage for specified years (e.g., 10, 20, 30 years).
- Death Benefit: Sum assured paid to beneficiaries on death during term.
- No Maturity Benefit: Generally no payout if policyholder survives term.
- Affordable Premiums: Often cheaper vs other life insurance types.
- Level, Increasing options: Choose between level or increasing sum assured options.
- Return of Premium (ROP): A term life feature where premiums are refunded if the policyholder survives the term. Premiums are higher than regular term plans, and the death benefit is paid if the policyholder dies during the term.
How Term Plans Work
- 1Policy Term: Choose coverage period.
- 2Sum Assured: Decide coverage amount.
- 3Premium Payments: Pay premiums for chosen term.
- 4Death Claim: Nominee gets sum assured if death occurs during term.
- 5Expiry: Coverage ends if term completes without claim.
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What is Term Life Insurance?
A type of life insurance providing coverage for a fixed period (term).
Is there any maturity benefit in term assurance plan?
No maturity benefit if the policyholder outlives the term.
What are two major benefits under Term Assurance Plan?
Affordable premium and high insurance coverage.
How can I pay the premium for term assurance?
Premiums can be paid yearly, half-yearly, quarterly, and monthly.
What happens to the policy when policyholder dies within the term?
Sum assured will be provided to the nominee.