Term insurance is one of the simplest forms of life insurance.It gives very high risk cover for the lowest premium among all insurance plans. The motive is to give financial cover/security to your family in event of death of the insured person. This plan is most beneficial if you are the sole earning member of your family or your family is dependent on you or you bring the maximum share of income in your family.
Term Insurance is purest form of life insurance. Term plan offers a sufficiently large amount to your family at the time of death of policyholder.