Why Millennials Should Invest in Term Insurance Plans Early

A term insurance plan is a life insurance product that provides coverage for a specific term or duration. In the event of the policyholder’s untimely demise during this period, the nominee receives a pre-decided sum assured. Unlike other life insurance products, term plans are simple, affordable, and purely protection-oriented, which means they don’t have a savings or investment component. This is especially beneficial for millennials looking for maximum life cover at minimal premium rates.

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