Term insurance provides coverage for a predefined period. It helps with financial aid in case of a policyholder’s death. Numerous, including salaried, self-employed, and NRIs prefer it for several reasons. Here, understand why term life insurance for NRIs is a perfect choice.

What is Term Insurance?

Term insurance is a form of life insurance plan that pays for a stipulated term or time period. In case of the policyholder's untimely death, the nominee is paid the sum assured. There is no savings feature present in a term plan like all other insurance plans. If you want more out of your policy without increasing the premium, then you can take a term insurance plan with return of premium options.