This is the most straightforward form of non-refundable life insurance, offering essential protection at an affordable cost.
It is one of the most popular options for securing financial stability and peace of mind.
Commonly chosen to safeguard family income in the event of death, terminal illness, or total disability, and it can also support business continuity needs.

Coverage Components

• Death Benefit: Provides financial support to beneficiaries in the event of the policyholder’s death.
• Terminal Illness Benefit: Offers coverage if the insured is diagnosed with a terminal illness.
• Permanent Total/Partial Disability: Covers long-term disabilities that prevent the insured from working.
• Passive War Risk: Optional add-on that provides coverage for death caused by war.
• Types of Term Insurance:
  1. 1- or 5-year renewable term
  2. Refundable term
  3. Decreasing term (ideal for loans and mortgages)
  4. Defined duration term (up to ages 65, 70, or 75)

Having life insurance with these features ensures a strong and comprehensive safety net for individuals, families, and businesses.