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Term Insurance Plans Service

Term Insurance Plans Service

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Term Insurance Plans Service.
What Is Term Life Insurance

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Sinha And Associates

New Delhi
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Location Local
Service Mode Online,Offline
Type Of Service Term Insurance Plans Service

Product Description

Term Insurance Plans Service.

What Is Term Life Insurance?

Term life insurance, also known as pure life insurance, is life insurance that guarantees payment of a stated death benefit during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the policy to terminate.

 How Term Life Insurance Works

Term life policies have no value other than the guaranteed death benefit. There is no savings component as found in a whole life insurance product. The policy's purpose is to give insurance to individuals against the loss of life. This cash benefit may be used by beneficiaries to settle the policyholder's healthcare and funeral costs, consumer debt, or mortgage debt among others. Term life insurance is not used for estate planning or charitable-giving purposes. All premiums cover the cost of underwriting insurance. As a result, term life premiums are typically lower than permanent life insurance premiums.

 Volume 75%1:31Term Life Insurance Explained Characteristics of Term Life

The basis for term life premiums is on a person’s age, health, and life expectancy, which is set by the insurer. If the person should die within the specified policy term, the insurer will pay the face value of the policy. Should the policy expire before the policyholder's death, there is no payout. Policyholders may be able to renew a term policy at its expiration, but their premiums will be recalculated for their age at the time of renewal.

Because it offers a benefit for a restricted time and provides only a death benefit, term life is usually the least costly life insurance available. A healthy 35-year-old non-smoker can typically obtain a 20-year level-premium policy with a $250,000 face value for $20 to $30 per month. Purchasing a whole life equivalent will have significantly higher premiums, possibly $200 to $300 per month. Because most term life insurance policies expire before paying a death benefit, the overall risk to the insurer is lower than that of a permanent life policy. The reduced risk allows insurers to pass cost savings to the customers in the form of lowering premiums.

KEY TAKEAWAYS
  • Term life insurance guarantees payment of a stated death benefit to the insured's beneficiaries during a specified term.
  • These policies have no value other than the guaranteed death benefit and feature no savings component as found in a whole life insurance product. 
  • Term life premiums are based on a person’s age, health, and life expectancy, which is set by the insurer.
  • If the insured dies within the specified policy term, the insurer pays the face value of the policy.
  • Should the policy expire before the policyholder's death, there is no payout. 

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Term Insurance Plans Service
Term Insurance Plans Service
Term Insurance Plans Service
Term Insurance Plans Service

Company Details


About the Company

Year of Establishment2005
Legal Status of FirmIndividual - Proprietor
Nature of BusinessService Provider
Number of Employees11 to 25 People
Annual TurnoverRs. 50 Lakh - 1 Crore
IndiaMART Member SinceOct 2011
GST07BBFPS1019E1ZY
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Seller Contact Details

Suresh Sinha

Near Main Road, Kh. No. 1/338, 4-9 Samadhi Asthal Sahabad, Mohammadpur, South West Delhi
New Delhi - 110061, India

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