What is Term Insurance?

Term insurance policy is a basic form of life insurance offering financial protection for a specific period. The nominee of a term insurance policy will receive a financial benefit if you die during the policy period.
 

The purpose of term life insurance is to provide financial benefits only in the event of the policyholder’s death during the term period. This policy does not return any financial value if you survive its term. You can choose term insurance with return of premium if you wish to get your premiums back after the policy term ends.

When you buy term insurance, you pay regular premiums in exchange for a financial benefit that goes to your nominee in the event of your untimely demise.