What are Different Types of Death Covered in a Term Insurance Plan?
Potential policy buyers looking for a no-nonsense life insurance plan will find solace in a term insurance plan. A term plan is one of the purest forms of insurances that you can buy with your money. It is a straight forward transaction between you and an insurance company. A policyholder pas the premiums for a policy and in return, the insurer will provide them with life coverage. Should anything unforeseen happen to the policyholder, the insurance company will pay the sum assured to the nominees of the policy. Though it does not count as a proper investment, it does a world of good to your financial portfolio. It ensures that your loved ones have all the financial support that they need to proceed with their lives even in your absence. The reason why it does not qualify as an investment is that a policyholder does not directly benefit from the policy. If they outlive the policy term, there aren’t any benefits for them. You essentially buy peace of mind and financial freedom