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All you want to know about life insurance

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Term Insurance

Term Insurance Benefits2:56 Min Read Time
1 Crore Term Insurance2:34 Min Read Time

Insurance jargon explained

Date Of Commencement Of Risk

It is the date which represents the beginning of Life Cover.

Nominee/Beneficiary

Nominee is the person who is nominated to receive the amount under a policy and to give a valid discharge to the insurer on settlement of claim under a life insurance policy.

-- The person who is nominated to receive the benefits of the policy, in the event of Life Insured’s unfortunate death before maturity date is called the Nominee.

Maturity Date

It represents the ending (end of term) for an Insurance Plan. On maturity date, the Policyholder will receive the benefits on maturity depending on the plan chosen, and the life cover terminates.