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Term Life Insurance Plan

Term life insurance policies are the purest form of life insurance, as they do not offer any survival benefits, just death benefit. It is also the cheapest form of life insurance.

Apnainsurance.com Research Bureau

20 Dec 2007

Term life insurance plans provide insurance cover for a specified period. The defining characteristic of this type of life insurance plan is the complete absence of survival benefit i.e. on maturity (surviving the term of the policy), you receive no money from the insurance company. Term life insurance plans are pure risk cover plans where only administrative expenses and mortality charges are built into the premium costs. Thus, term life plans are the purest form of life insurance.

In some term life insurance plans, the premium paid for the entire term of the policy is returned to the insured person on surviving the policy term. Needless to say, the premiums for such policies are higher.

See also:

FAQs on Life Insurance Basics

Life Insurance FAQs on Premiums

Life Insurance FAQs on Claims

Life Insurance FAQs on Insurance Company and Insurance Agent

Children's Life Insurance Policies

Endowment Insurance Plans

Money-back Life Insurance Plan


Whole Life Insurance Plans