MANAGEMENT

Detailed explanation-1: -Benefits offered by Term Life Insurance plans with Survival Benefits. The term insurance plans with survival benefits may offer the following benefits: Death benefits: The designated nominee will death benefits following the death of policyholder.

Detailed explanation-2: -If there is a death benefit clause in the policy, the next of kin may receive a lump sum. In another situation where a covered family member dies, the policy will be endorsed, i.e. updated with the list of remaining dependants. Thus, the rest of the family members can continue to avail health insurance coverage.

Detailed explanation-3: -Most people know that life insurance guarantees death benefit payment to the beneficiaries.

Detailed explanation-4: -Common types of life insurance include: Term life insurance. Whole life insurance. Universal life insurance.