Exide Term Insurance Plans

Term insurance is the simplest form of life insurance available. It is a non-linked product without any investment component. Pure term insurance policies offer only death benefits. It means in case of demise of the insured person during the policy term, the nominee gets the sum assured mentioned in the policy. In case, the policyholder outlives the term period, nothing is payable. However, there are certain term insurance plans that return all the premiums paid in case the policyholder outlives the policy term. These are known as term plans with return of premiums. As pure term plans have no maturity benefits (benefit paid at the end of policy term), the premiums are lower compared to other life insurance plans such as endowment policies which offer both death and maturity benefits. Term insurance provides coverage for a certain period during which regular premiums need to be paid. Offering substantial life cover at an affordable premium, a term life insurance gives financial cushion to the family in case of demise of family’s chief breadwinner. Acting as an income replacement, the proceeds received from the term policy helps the family maintain their lifestyle, repay outstanding loans and address other major life goals.
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