Know The Types Of Deaths Covered And Not Covered By A Term Plan

One of the main reasons why people buy term insurance plans is to secure the financial future of their family ones in case of their untimely demise. Under the terms of this plan, the insurance company promises a fixed amount of money (called the sum assured) to the policyholder’s nominee (also known as the beneficiary) in case the life assured (policyholder) dies during the course of the policy tenure. The beneficiaries can file a claim after the death of the policyholder to receive the sum assured. However, not all deaths are equal. You should know about the different types of death covered and not covered under a term plan –

Read More →
Replies: 0 / Share: