Term Insurance are the pure life insurance plans providing basic protection to safeguard your family financially against the untimely death of yours. The Term Life Insurance plan is a form of a life insurance cover, it provides coverage for a specific period of time, and if the insured dies during the term of the policy, then the nominee receives a comprehensive lump sum amount, called as the sum assured, in the event of unfortunate death of the life insured. Term insurance plans offer an opportunity to get the financial protection for your family at an exceptionally affordable cost.
Term Life Insurance Plans are cheaper as compared to other life insurance plans because such plans only intend to provide a death benefit and are pure insurance plans. Online term plan or online term insurance plans allow additional discount on premium by the insurer. The insurance companies charge only mortality cost apart from the nominal administrative charges. There is no element of saving or investment present in this plan which makes the premium cost low.