Term insurance is designed primarily for financial protection. If the insured person dies during the policy term and the claim is valid, the nominee receives the insured benefit as per policy terms.
Especially relevant where family members depend on the insured person's income or where major liabilities remain.
Use these points as a discussion checklist. Exact policy terms differ by insurer and product.
Clarify what financial event needs protection.
Calculate a realistic protection amount.
Review exclusions, limits and policy conditions.
Reassess protection when family or finances change.