Term insurance is a type of life insurance it provide life coverage for certain period of time to the insured person for the prespecified of sum assured. Death benefit will be paid if the policy is active or during the time period of policy.
Term insurance is less costly as compare to permanent life insurance and endowment plan. The premium paid amount is less as compare to both the plans .
Opting out of term insurance is much easier as compare to other cash value policy. Term insurance are less tax efficient as the premium paid on term insurance is less as compare to endowment plan but the return on endowment plan is also very less so a person can take a separate investment plan for tax savings.
So term insurance is better than investment instrument than endowment plan,
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