Term Insurance Plan Meaning. Level term policies are easy to understand. It offers a high cover amount at a very nominal premium and is one of the cheapest forms of life insurance.
Dependants' protection scheme (dps) is an optional term insurance plan that covers cpf members for a maximum sum of $46,000. The term insurance plan will continue to be active even when you relocate from india. So, the insurance policy should cover him till he intends to work.
In case, the insured passes away during the term insurance policy term, the lump sum amount is paid to the nominee as a death benefit.
Pure term assurance (plan no. Federal regulations state that a short term health insurance plan's initial term must be less than 12 months and that the plan cannot be extended to total more than 36 months. 5 reasons to buy a term insurance plan. Those looking to protect their family’s finances by covering living expenses or replacing lost income may opt for a level term life insurance policy.