TERM INSURANCE
One of the most popular life insurance plans is term life insurance. It lasts for a set amount of time and then expires at the end of the term. The best part about a term plan is that the premiums are very reasonable.
Because the premiums are cheap, these plans are suitable for persons who have just put their initial steps in growing their careers. The plan pays out a fixed amount in case of the demise of the insured person within the tenure. Maturity Benefit is nil in purely term plans.