What is term life insurance? How does it work?

In simple words, to escape inevitable life situations. Term Life Insurance is a type of life insurance that provides coverage for a predetermined period. 

Term life insurance is one of the best ways to protect your family if they are financially dependent on you from an unforeseen event, and at the same time, purchasing a policy is cost-efficient. The policy offers a substantial life cover at a small premium.

If the policyholder expires during this period, the nominee of the policy will receive the death benefit. No benefit will be paid to the policyholder if he/she survives the policy term.