A life insurance plan forms an integral part of the financial portfolio of working-class Indians. Life insurance comes in various forms and types. One such type is term life insurance.
Contrary to some beliefs, a term plan is not a simple one-layered plan. There are various types of term insurance plans available for various needs. Before delving into the types of term insurance, let us first understand what a term plan really is.
1. Level Term Plans
2. Increasing Term Insurance
3. Decreasing term insurance
4. Return of Premium Term Insurance
5. Convertible Term Plans
The iSelect Star Term Insurance Policy by Canara HSBC Oriental Bank of Commerce offers a multitude of benefits packed into one plan. It provides you with options of a level, increasing, or decreasing cover along with the option of return of premium. Moreover, there are other ways you can tailor your plan, by opting for spouse cover, Accidental Death Benefits, Accidental Total and Permanent Disability Riders, and Child Support Benefit riders. You will also have a choice between different premium payment modes, amongst other perks.