Who among the following is best advised to purchase a term plan?

A. An individual who needs money at the end of insurance term

B. An individual who needs insurance and has a high budget

C. An individual who needs insurance but has a low budget

D. An individual who needs an insurance product that gives high returns

Answer: Option C

Solution(By Examveda Team)

An individual who needs insurance but has a low budget is advised to purchase a term plan. Term plans are beneficial for those who want higher coverage at low premium rates, providing financial protection for their family in case they are not around.