What Is Term Insurance and How Does It Work?
Term insurance is a type of life insurance that provides financial protection to the policyholder\'s beneficiaries for a specified period. Unlike some life insurance products that may include savings or investment features, term insurance primarily focuses on providing a life cover for the selected policy term. If the insured person dies during the policy period, the death benefit may be paid to the nominee according to the policy terms and conditions. Because of its straightforward structure, term insurance in India is widely considered when people look for affordable life protection.