A type of policy where the assured or his dependents will not get anything if he dies within the period of the policy is known as
Question 1 Report
A type of policy where the assured or his dependents will not get anything if he dies within the period of the policy is known as
Answer Details
A type of policy where the assured or his dependents will not get anything if he dies within the period of the policy is known as a term policy. Term policies provide coverage for a specific term or period of time and if the policyholder dies during that period, the beneficiaries receive a death benefit. If the policyholder outlives the term of the policy, there is no payout. Term policies are generally cheaper than other types of life insurance policies because they provide coverage for a limited period of time and do not build up cash value.
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