'Term Cover' as the name suggests, is the type of Insurance cover an individual would take to cover the risk of loss (namely 'loss of life') for a period of time. This is the cheapest form of Life Insurance for an indivdual as it covers the loss only in event of 'death' during the term of the policy.
There are 2 types of term cover:
Term Cover with 'Return of Premium'
Term Cover without 'Return of Premium'
'Return of Premium' implies that the premium is retuned to the 'Life Assured', at the end of the term, if the 'Life Assured' survives the term.
About Me
- Ranjan M Samuel
- The phrase " Show me the money honey" is one of my favourites,and NO! not that I am greedy or green is my favorite color... :-) just that money brings various investment possibilities to life. I began first to invest for my wife with a single goal to make her a millionaire.... and so she is!!! Now I have a small but growing list of 'followers' (family and friends) who trust me with their money and my investment skills. There are others who seek my advice and take it from there. I love this game of 'financial warfare' and I look upon myself as a facilitator, advisor, mentor but most of all a FRIEND.
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