Term insurance is recommended over ULIP or endowment insurance plan because term plans offer low cost, simple structure and pure protection cover with no investments linked structure. Term insurance used to offer a clear view to the insured and family that if something happens to the insured, this is the amount that the family will get. However as time passes, term plans have started losing their simplicity. Now it comes in various versions where by insured may ask for a lump sum benefit or a distributed benefit for his nominees.
Term insurance is recommended over ULIP or endowment insurance plan because term plans offer low cost, simple structure and pure protection cover with no investments linked structure. Term insurance used to offer a clear view to the insured and family that if something happens to the insured, this is the amount that the family will get. However as time passes, term plans have started losing their simplicity. Now it comes in various versions where by insured may ask for a lump sum benefit or a distributed benefit for his nominees.
Read more at: http://www.moneycontrol.com/news/insurance/optimizing-claim-settlement-optionsterm-life-insurance-plans_8568541.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/insurance/optimizing-claim-settlement-optionsterm-life-insurance-plans_8568541.html?utm_source=ref_article
