If the insured lives up to the specified period in full health, he does not get anything. However, the insurance premium is significantly lower than in endowment. The difference can be up to 10 times. Term insurance is valid only up to the age of 74. If a person is alive by this age, the term insurance policy ends.
The minimum cost of a term life insurance policy depends on the client’s age (the younger, the cheaper), health and profession.
Source: https://www.livemint.com/
Photos are from open sources.
