How to choose the Best Term Insurance Plan for your family.
Introduction Term insurance is a type of life insurance that provides a lump sum amount to the nominee or beneficiary in case of the death of the policyholder during the policy term. Term insurance is also known as pure protection plan, as it does not have any maturity or survival benefit. Term insurance is one of the most affordable and effective ways to secure the financial future of your family in your absence. Term insurance can help you to: - Replace your income and support your dependents - Pay off your debts and liabilities - Cover your children's education and marriage expenses - Achieve your long-term goals and dreams - Leave a legacy for your loved ones Status Term insurance is gaining popularity and awareness in India, as more and more people realize the importance of financial protection and planning. According to a report by CRISIL Research, the term insurance segment grew by 17.4% in FY 2020-21, despite the challenges posed by the COVID-19 pandemic. The report also pr