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The most common difference between term insurance and traditional life insurance plan is that a term insurance plan only provides a death benefit in case of demise of the insured within the term period whereas a life insurance policy offers both death and maturity benefit to the insured. The new insurance company will verify the information with the existing insurer.
The Exide Life Guaranteed Income Insurance Plan Is A Unit Linked Non Participating Which Provides Tax Free Dual Benefits Of Life Insurance Coverage And Return O
The nominee should submit the details of the existing term life insurance plan while purchasing a new one.
Term life insurance policybazaar. The amount provided as the death benefit in term insurance plans is much higher. The information on the policy should be provided in the proposal form. After the verification is.
The nominee will have to present the insureds death certificate to the insurance company.
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