Term policy

What is Term Insurance - HDFC Life

Many of us aren't aware of what is term insurance? It is basically a type of life insurance that, provides coverage for a certain period of time or years. If the insured dies over the policy tenure a death benefit (or sum assured) is paid out. No payout is made if the insured survives the tenure. The purpose of taking life insurance is to provide life cover to the policyholder and financial security to his family. There are two ways the individual can take life insurance: 1. By opting for a pure life cover, also known as term insurance 2. By taking life cover with a savings component built-in,also called endowment insurance Term plans provide pure life cover. This means there is no savings...

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