Term Insurance

What is Term Insurance? 

Term Insurance is a pure protection plan. If the policyholder passes away during the policy period, the insurance company pays a fixed amount (sum assured) to the family.

If the policyholder survives the term, no money is paid back. 

Why Term Insurance is Important 

• Provides strong financial support to family
  
  

• Very affordable with high coverage
  
  

• Helps family manage daily expenses, loans, and future needs
  
  

• Ideal for income earners

Key Features of Term Insurance

• High coverage at low premium
  
  

• Fixed policy term (10, 20, 30 years, etc.)
  
  

• Money is paid only in case of death
  
  

• Simple and easy to understand

Life Insurance 

What is Life Insurance? 

Life Insurance is a plan that provides both protection and savings. It gives financial security to the family and also helps build savings over time.

In this plan, money may be paid on death or maturity, depending on the policy. 

Why Life Insurance is Important 

• Financial protection for family
  
  

• Helps save money regularly
  
  

• Can be used for future goals like children’s education
  
  

• Long-term financial planning

Key Features of Life Insurance

• Offers protection + savings
  
  

• Pays amount on maturity or death
  
  

• Higher premium compared to term insurance
  
  

• Suitable for long-term goals

Difference Between Term Insurance and Life Insurance

Which One Should You Choose? 

• Choose Term Insurance if your main goal is to protect your family with high coverage at low cost.
  
  

• Choose Life Insurance if you want protection along with long-term savings.
  
  

• Many people choose both to get complete financial security.

Term Insurance protects your family if something happens to you.

Life Insurance protects your family and helps you save for the future.

Choosing the right plan depends on your income, responsibilities, and financial goals. 

Disclaimer: Term and Life Insurance guidance is provided only through licensed insurance advisors who hold valid IRDAI registration codes in their individual names. UDIT ANKUSH does not hold an IRDAI registration code and does not act as an insurance advisor at any stage. We only facilitate customer communication with authorized insurance advisors.