Term insurance plan is just the right scheme for those wanting pure risk cover at cheap rates
Death is perhaps the most devastating experience to cope with. But you can definitely make life easier for your loved ones by opting for adequate insurance. Especially if you are a single earner, and have a family to take care of, it makes sense to ensure that your dependents are at least financially secure in the event of your untimely demise. And this security can come to you at a minuscule cost. Among the different categories of insurance policies, term insurance policies serve the purpose best.
Unlike other products like the endowment policy, money-back policy and whole-life plan which also serve as saving instruments, term plans are purely meant for life insurance. And since they charge only for the risk, they are the cheapest insurance plans. These plans offer no survival benefits. In case death occurs, the sum assured is paid to the beneficiary. However, in order to attract customers some plans return the premium paid. Such plans can
