What Happens to your Term Insurance Policy if you Outlive it?

2024-08-14

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What Happens to your Term Insurance Policy if you Outlive it?

If you outlive your policy term, no benefit is provided by the life insurer. A term insurance policy is a pure protection plan that offers death benefits. The death benefit is paid to the nominees or beneficiaries if the policyholder passes away during the term.

However, there are term insurance plan with return of premium option. If you have such a plan and you happen to outlive the policy term, all the premiums will be paid back to you.

Canara HSBC Life Insurance iSelect Smart360 Term Plan offers return of premium option. That means if you survive the policy term, the premiums will be refunded. It is a comprehensive term insurance plan that offer life cover till 99 years, critical illness cover for 40 listed illnesses, and increasing cover option.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.