With a wide variety of insurance plans to choose from, you may be confused about what is the right choice to protect your loved ones. Most individuals have a primary motive of securing themselves and their families during disease and death. Here we compare two such types of insurance: Term and Comprehensive, each with their own benefits.
Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary.
A comprehensive plan is a life insurance product that gives benefits over and above a life cover/death benefit. It also protects you through a critical illness cover.
One claim: on death of the life
Two claims: first on the diagnosis of
Claim Payment Mode
Choice of lump sum, installments
To reduce financial burden on
To provide for treatment costs