Endowment plans, unit-linked insurance policies (Ulips) and term insurance are collectively referred to as life insurance plans. Term plans are protection plans. Term plans are substantially cheaper than other life insurance plans. TrinathCritical illness plans are not a substitute for traditional health insurance plans and vice-versa. The critical illness plan associated with term insurance will get triggered when the policyholder gets diagnosed with the specified critical illness.

Source: Mint September 16, 2021 19:41 UTC