From Calculations to Coverage: Navigating Types of Life Insurance and Estimating Costs with a Term Insurance Calculator
Overview To provide financial security to your loved ones in case of your untimely demise, a life insurance policy plays a pivotal role. Life Insurance promises to pay a lump sum amount to the nominee, securing his/her family members’ future, in case of the demise of the insured person during the policy term. Term Insurance: One of the most convenient plans of Life Insurance, Term Insurance provides coverage for a specific duration and at a fixed rate. Money Back Plans: One of the types of Life Insurance policies, Money Back Plans provide regular payouts during the policy term.If a policyholder survives the term, then he/she receives a percentage of life insurance coverage at specific intervals.And, in case of demise during the term, the entire sum assured is paid to the nominee. One of the types of Life Insurance policies, Money Back Plans provide regular payouts during the policy term.If a policyholder survives the term, then he/she receives a percentage of life insurance coverage at specific intervals.And, in case of demise during the term, the entire sum assured is paid to the nominee.
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