Life Insurance Forum advice on buying a life Assurance policy.


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Life or Term which type of Insurance do you prefer?

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  • Life or Term which type of Insurance do you prefer?

    Life insurance is more expensive than Term Insurance but it gives you life time protection unlike Term Insurance which only covers and indemnify a person only in a specified period of time, like for 1, 5, 10, 20 years, it's a lot cheaper that's why you can opt for a large coverage. But what is really the better deal? Is life better than term or is term better than life?

  • #2
    Lifeinsurance mainly gives you peace of mind and it pays a lump sum amount to your dependants when you pass away during the period of cover.Life insurance is more expensive compared to term. In this term insurance is kind of life insurance policy it can be availed for a fixed period of time.And the policy seeker can choose the term of cover will have to pay fixed premiums through out the year if the insured person passes during the term of policy you can get a lump sum amount will be paid to the dependants after a successful claim is made. And if the policy holder do not pass away the term the policy will lapse there will no be any payout.


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