Tag: What is a increasing term insurance policy?

Term insurance is one of the simplest forms of life insurance. In case of your sudden demise, the nominee mentioned in the policy will receive a lump sum amount. This amount is known as the death benefit or the sum assured. You choose this sum assured at the time of policy purchase. Any unfortunate event can happen at any time. Hence, the sum assured you choose has to be enough to fulfill your family’s needs for years to come. However, the amount that you may think will be enough may…

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