Term Policy is ideally suited for

A. One who needs periodical sums of money in his life?

B. One who has a high insurance budget

C. One who has a low insurance budget

D. One who looks for high returns

Answer: Option C

Solution(By Examveda Team)

Term Policy is ideally suited for One who has a low insurance budget. Term life insurance, also known as pure life insurance, is life insurance that guarantees payment of a stated death benefit during a specified term. Once the term expires, the policyholder can either renew for another term, convert to permanent coverage, or allow the policy to terminate.