The penetration of Life Insurance in India is 4%. There is a still chance to penetrate into the insurance industry for the insurance providers. Term insurance will pay immediately upon the death of the policyholder during the term. It has certain features and benefits.
Some of the main features of term insurance are:
Policy Term: The term varies from 5 to 35 years.
Policy Coverage: Death Benefits and maturity benefits for the policy enrolled.
Sum Assured: Vary from policy to policy by various life Insurance companies. You can choose a policy of your choice.
Policy Revival: The policy can be revived from the 2 years of unpaid premiums if it has been in force for a minimum period of 3 years.
Grace Period: The grace period for premium payments is up to 30 days.
Plan type: Term insurance offers flexibility in terms of choosing a plan.
Age Limit: Minimum entry …Read More »