Term vs Whole Life Insurance Policy in Hindi | Life Insurance Comparison and Explained

Описание: Term insurance and whole life insurance are two of the most popular life insurance in the market. The fundamental feature of both insurances is to provide financial protection to the family after the demise of the policyholder. However, still, there are some significant distinctions observable between term vs whole life insurance.

In this video on “Term Vs. Whole Life insurance,” we are going to discuss the features, benefits eligibility criteria, and maximum sum assured amount of each policy so that you can decide which one policy meets your requirements.

In the term insurance policy, the policyholder is required to pay the premium either in a lump sum or periodic intervals only for the specified term. Besides, in term insurance, the policyholder only gets the death benefits. There are no survival benefits. In case if the policyholder dies during the term, the sum assured amount will be paid to the assigned nominee. On the contrary, in the whole life insurance policy, the policyholder is covered with the benefits of the policy throughout the life, and premiums are paid only for a limited duration. Therefore, the premium of a whole life insurance policy is higher than pure term life insurance.



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