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For ensuring complete coverage of the future requirements of your loved ones, taking out a specific insurance plan is very essential. A traditional life insurance plan is the one that offers sum assured i.e. main plan benefits to the policy holder’s nominee(s) in the event of her/his demise during the policy term. In addition, there are extra maturity benefits in the event of the policy holder’s survival of the policy term. Therefore, there is a specific insurance cover and additional benefits in case of maturity of the policy term. In contrast to this, a term insurance plan only offers coverage against demise of the policy holder during the policy term and does not guarantee any additional benefits upon maturity of the policy term.
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ARN: ED/12/19/17049
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