The type of insurance which provides financial coverage to the insured person for a specific period of time, it is sort of disaster protection.
Term insurance is a life insurance which covers the policyholder financially for a specific period of time. Unfortunately, if the policyholder dies then the death benefits are paid to the beneficiary by the company. Either a lump-sum amount is provided to the beneficiary in the beginning or it can be a combination of monthly amounts and lump-sum one.
