Term insurance plans cover pure risk and provide a substantial life insurance cover for a nominal amount. In the industry, these plans are commonly positioned as a safeguard for the breadwinner of the family against life’s unfortunate circumstances such as death or disability. In the unfortunate event of the breadwinner’s demise, his family can use the amount received for immediate household expenses as well as for fulfilling important milestones in life such as the children’s higher education and marriage.
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