Term policies to have a larger share than earlier, say experts3 min read 09 Nov 2020, 09:02 AM IST
As demand for pure covers goes up, insurers are now pushing for them, to the benefit of policyholders
The sales of pure term plans picked up between March and June 2020 but has now started to taper off, with fewer people buying these compared to the first quarter (April-June) of the financial year. In a term plan, policyholders pay for the life cover and don’t get back any money if they survive the term. In case of death, the insurer pays out the sum assured to the nominee or legal heirs.
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