India, April 15 -- justify;">An insurance plan is a vital tool that can protect you and your family from life's uncertainties. Some plans can have added benefits such as regular savings and tax benefits. However, not all insurance plans work the same way.**

Life insurance provides life coverage combined with the opportunity to build wealth with savings or investment opportunities. Term insurance offers financial protection for a specific period at a lower cost. Both require the payment of a premium-a fixed amount to be paid for the promised benefits. Understanding how these premiums work and what are the differences between term insurance and life insurance could help you make a more informed decision.

Life insurance is a financial safe...