Which of the below option is correct with regards to a term insurance plan?

A. Term insurance plans come with life-long renewability option

B. All term insurance plans come with a built-in disability rider

C. Term insurance can be bought as a stand-alone policy as well as a rider with another policy

D. There is no provision in a term insurance plans to convert it into a whole life insurance plan

Answer: Option C

Solution(By Examveda Team)

Term insurance can be bought as a stand-alone policy as well as a rider with another policy. 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.