A term plan or a term insurance policy is a pure life cover plan which secures the future of the policyholder’s loved ones or family members or nominees in case of his/her untimely demise. The policyholder pays a decided premium amount either on a monthly or yearly basis. As the awareness with respect to term plans is increasing, more and more people are buying them.
Buying a term insurance policy is a simple thing. There are several insurance companies, such as Tata AIA Life insurance and many others, that are offering different life insurance and term plans to meet the diverse requirements of people. The term plan can be applied to anyone irrespective of being a senior citizen, working woman, salaried person, married couple, young individuals, etc. There is no limitation. However, there are set eligibility criteria that the applicant should meet to buy a term plan.
But, the main …