Indian Insurance

Term life insurance policy covers risk only during the selected term period. If the policyholder survives the term, the risk cover comes to an end. Term life policies are above all calculated to meet the needs of those people who are at first not capable to pay the larger premium required for a whole life or an endowment pledge policy.

No give in, loan or paid-up values are granted under term life policies because reserves are not accumulated. If the premium is not paid within the grace period, the policy lapses without acquiring any paid-up value.