Meaning of Term Life Insurance - NEPAL MONETARY SOLUTIONS (NMS)

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Saturday, February 8, 2014

Meaning of Term Life Insurance

Term Life Insurance

  • insurance of a larger sum can be made through a small amount of premium

  • no amount shall be refunded in case no claim is made in that respect

  • Generally, this insurance is done for a period of one year

  • The time-bound life insurance comes in two types:
    • Level Term Life Insurance 
    • Decreasing Term Life Insurance