Product Details
Term Insurance Policy
Ahmedabad
A Quality Product from
CHOLAMANDALAM DISTRIBUTION SERVICES LIMITED [View Profile]
Ahmedabad - India
Description :
A term insurance policy is a pure risk cover for a specified period of time. What this means is that the sum assured is payable only if the policyholder dies within the policy term. For instance, if a person buys Rs 2 lakh policy for 15-years, his family is entitled to the money if he dies within that 15-year period.
What if he survives the 15-year period? Well, then he is not entitled to any payment; the insurance company keeps the entire premium paid during the 15-year period.
So, there is no element of savings or investment in such a policy. It is a 100 per cent risk cover. It simply means that a person pays a certain premium to protect his family against his sudden death. He forfeits the amount if he outlives the period of the policy. This explains why the Term Insurance Policy comes at the lowest cost.
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CHOLAMANDALAM DISTRIBUTION SERVICES LIMITED deals in :
Investment and Finance Services
In the course of providing its services CDS works with issuers of Financial Assets like Mutual Funds, Listed Companies, Financial Institutions and Insurance Companies to offer customized solutions.
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