Term Insurance

Term Plan Vs Comprehensive Plan

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With a wide variety of insurance plans to choose from, you may be confused about what is the right choice to protect your loved ones. Most individuals have a primary motive of securing themselves and their families during disease and death. Here we compare two such types of insurance: Term and Comprehensive, each with their own benefits.

Term Plan

Comprehensive Plan


Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary.

A comprehensive plan is a life insurance product that gives benefits over and above a life cover/death benefit. It also protects you through a critical illness cover.

Claim Stage

One claim: on death of the life

Two claims: first on the diagnosis of
critical illness, and regular
installments to cope with the loss of
income as well as death; and
second on the death of the life

Claim Payment Mode

Lump sum

Choice of lump sum, installments
or a mix of both for critical illness,
and lumpsum at death

Primary Objective

To reduce financial burden on
dependents in case of death

To provide for treatment costs
dusting serious illnesses, to
support the family for income loss
during critical illness, and reduce the
financial burden on dependents in
the case of death

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