Term Insurance

Term insurance is a life insurance policy that provides financial coverage to the policyholder for a specific period (term). In the event of the policyholder's death during this term, the insurance company pays a death benefit to the nominee. It is designed purely for financial protection without any maturity benefits.

Key Features

• Affordable Premium: Term insurance is more affordable compared to other types of life insurance.
• Coverage Period: Available for 10, 20, or 30 years, or until a specific age.
• Death Benefit: Pays the sum assured to the nominee upon the policyholder's death.
• No Maturity Benefit: If the policyholder survives the term, no benefit is paid unless it's a "return of premium" plan.

Health Insurance

Health insurance is a type of insurance policy that provides financial coverage for medical expenses, including hospitalization, surgeries, and treatments. It is aimed at reducing the financial burden of healthcare costs

Key Features

• Medical Expense Coverage: Covers hospital bills, doctor fees, diagnostic tests, and more.
• Cashless Facility: Many policies offer a cashless treatment option at network hospitals.
• Pre and Post-Hospitalization: Covers expenses incurred before and after hospitalization for a defined period.
• Critical Illness Coverage: Add-ons available for diseases like cancer, heart attack, etc.
• Benefits: Protects against rising healthcare costs. Includes preventive care, such as annual health check-ups. Tax benefits under Section 80D of the Income Tax Act