Term insurance is a life coverage which can be availed by a person for insuring his life for a limited period of time. The person who wishes to take a policy has to decide two things. One, the cover he/she wish to take. Second, his/her current age.
The premium is mainly affected by these two factors. The shorter the age lesser the premium will be. Larger the cover higher the premium amount will be.
insurance. These traditional insurance plans also have higher tax savings compared to other plans.