Term insurance

Q1 – What is Terms Insurance Plan?

Term Insurance Plan provides Life Insurance cover during a specified period or term and may be described as Pure Life Insurance.

Q2 – What are the benefits?

  • The Policy benefits become payable when
  • The Insured person dies during the specified term.
  • The Policy is in force at the time of death.
  • Only specified Sum Assured is payable.

Q3 – What is the State of Premium?

  • It is the cheapest form of Life Insurance cover available. Mere risk charge is payable as premium because there is no saving element in this plan.  Nothing is payable on maturity.


Q4 – What is the maximum term available for this plan?

  • The term of the policy could be for any period between 1 to 30 years but should not be above 70 years ago.

Q5 – What other benefits are there?

  • A loan can be covered by Term-Insurance. This is called as “Mortgage Redemption Insurance”.  This plan covers the balance of loan outstanding in the event of death.  This is also called as  “Loan Cover Term Insurance”.  Premiums are charged for a lesser period under this cover.

Raghunandan Insurance Brokers (P) Ltd. | Direct broker code: IRDA: DB/352

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