Decoding Term Insurance: Is It the Right Choice for You?
Term insurance is a popular choice for its affordability and substantial coverage, but it’s essential to understand if it suits your needs.
Key Features
- Affordable Premiums: Lower premiums compared to other life insurance policies.
- High Coverage: Substantial sum assured to cover financial liabilities.
- Flexible Terms: Coverage available for various terms, from 5 to 40 years.
Comparison
Term vs. Whole Life: Term insurance offers pure protection, while whole life combines protection with savings. Term vs. Endowment: Endowment plans include savings and investment components, leading to higher premiums.
