Term Life Insurance
Content
Term Life Insurance
M Co m -2 nd Semester
Term Life Insurance ?
Term- “a limited period of time” Benefit is payable only if the insured dies during a specified period. Coverage is provided for a period of time called policy's term. Term can vary to a period of 5,10,15,20 years. If the insured dies during the term the policy's face amount will be paid to the beneficiary
Term life insurance - Definition
“ Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. “
Term Life Insurance - Benefits
Less Expensive. Payments are fixed. Temporary or Short term coverage. Return of Premium feature. Fits best for Youth. Length of the term can be selected. Untimely death, your dependents will be compensated. Can be personalized.
Term Life Insurance - Limits
More Older – More Premiums No Benefits like Cash Value / without profit It doesn't give you life coverage past 75 or 80 Your term contract may expire Coverage only lasts for a certain period No many riders as other life insurance Your premiums usually cannot be lowered Seniors aren't usually covered
Term Life Insurance -Beneficiaries
Extra protection for short duration Young business men during initial stages Key man Insurance A father during education of his child Any one who wants to be insured for a short period
Term Life Insurance - Types
Yearly Renewable Term. Decreasing Term Life Insurance. Increasing Term Life Insurance. Level Term Life Insurance. Renewable Term
Term life Insurance –Market Players
LIC
Two Year Temporary Assurance Policy The Convertible Term Assurance Policy Anmol Jeevan-I Amulya Jeevan-I
ING
ING Term Life ING Term Life Plus
Reliance
Reliance term plan Reliance simple term plan Reliance term + health term plan
Term life Insurance –General Terms
Minimum entry age : 18 years Maximum entry age : 65 years Maximum maturity age : 75 years Policy Term :10-30 years Regular Premium, Limited
Premium(3-5years),Single Premium
M Co m -2 nd Semester
Term Life Insurance ?
Term- “a limited period of time” Benefit is payable only if the insured dies during a specified period. Coverage is provided for a period of time called policy's term. Term can vary to a period of 5,10,15,20 years. If the insured dies during the term the policy's face amount will be paid to the beneficiary
Term life insurance - Definition
“ Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. “
Term Life Insurance - Benefits
Less Expensive. Payments are fixed. Temporary or Short term coverage. Return of Premium feature. Fits best for Youth. Length of the term can be selected. Untimely death, your dependents will be compensated. Can be personalized.
Term Life Insurance - Limits
More Older – More Premiums No Benefits like Cash Value / without profit It doesn't give you life coverage past 75 or 80 Your term contract may expire Coverage only lasts for a certain period No many riders as other life insurance Your premiums usually cannot be lowered Seniors aren't usually covered
Term Life Insurance -Beneficiaries
Extra protection for short duration Young business men during initial stages Key man Insurance A father during education of his child Any one who wants to be insured for a short period
Term Life Insurance - Types
Yearly Renewable Term. Decreasing Term Life Insurance. Increasing Term Life Insurance. Level Term Life Insurance. Renewable Term
Term life Insurance –Market Players
LIC
Two Year Temporary Assurance Policy The Convertible Term Assurance Policy Anmol Jeevan-I Amulya Jeevan-I
ING
ING Term Life ING Term Life Plus
Reliance
Reliance term plan Reliance simple term plan Reliance term + health term plan
Term life Insurance –General Terms
Minimum entry age : 18 years Maximum entry age : 65 years Maximum maturity age : 75 years Policy Term :10-30 years Regular Premium, Limited
Premium(3-5years),Single Premium
