What is term insurance?

Term insurance provides life insurance for a certain period of time. Your coverage pays out a lump payment if you die within this time. This form of insurance is beneficial for ensuring the financial stability of your dependents.



Unless you request a review, your level term assurance coverage remains the same and your premiums remain the same. Purchases of reviewable insurance are often less expensive.

Term life insurance comes in three varieties:

  1. Decreasing term cover
  2. Level term cover
  3. Increasing cover

We presently provide both level and declining coverage.

Original Source: https://www.quora.com/What-is-term-insurance/answer/Ranjit-Singh-3890

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