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Is term insurance policy better as compared to the other life insurance policies?
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24 Nov, 2021
by Apurva Sawant
What has grabbed my attention were the features like the claim settlement ratio, low premium amounts, add on benefits and of course the death benefits! Any professional or experienced person who can guide me here?
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Hey Apurva,
Hope you are doing well and apologies for the delay in replying to this! Term Insurance is basically a type of Life Insurance product. It is a fixed benefit insurance product that gives you a lump sum amount in the event of death of the life assured within the duration of the policy. If you survive the duration of the policy, you do not get anything back. On the other hand, all other life insurance products are a mixture of insurance and investments. This means that these plans offer a death benefit along with returns at the time of maturity. Examples of other life insurance products (apart from term life) are endowment policies, unit-linked insurance policies, moneyback policies, etc.
To understand more about Term Life Insurance, I would highly recommend you to go through our Term Insurance page in detail - read our e-books, articles, etc. Sharing the link for the same below for your ready reference
Term Life Insurance
I am very sure the content that we have on our website will clear all your doubts with respect to Term Life Insurance. Let me know if you have any questions post going through our articles and e-books.
Thanks!