Term Insurance Plan

Simplest form of life insurance that stays in effect for a specified period or until a certain age of the insured. It pays the sum assured of the policy in case the insured dies within the coverage period (term) but pays nothing if he or she outlives it. Also it premium cost is low in younger years; it generally increases rapidly with the age.

Life is highly unpredictable and wrapped in the fog of uncertainty. This uncertain life is loaded with so many responsibilities. Nobody has a control on one’s death nor can one predict it. Two of the biggest problems of life are dying early and living too long. Death of an earning person with family to look after causes serious turbulence in the life of the family members. Thus, dying early without sufficient back up for family members is a seriously problem. Another very serious problem of life is living too long beyond your earning age. Old age without money is the most pathetic condition imaginable.