What is term insurance?
Term insurance is a type of life insurance focused on protection for a selected policy term. If a covered event occurs during the policy term, the benefit is paid according to the policy's terms and conditions.
What should you compare?
- Coverage amount and whether it fits your protection needs.
- Policy term and how it relates to your financial responsibilities.
- Premium, payment frequency and applicable conditions.
- Nominee details and the claim process described by the insurer.
- Important exclusions, definitions and other policy conditions.
Who may consider term insurance?
People with dependants, long-term financial commitments or a need for life protection may want to explore term insurance. The right cover depends on individual circumstances.
Before buying
Read the policy document carefully and provide accurate information in the proposal. Do not choose a policy solely on premium; understand the cover, conditions and exclusions.
Want to discuss term insurance?
Share your requirement with AssuredPath.