Term Life Insurance

Term life insurance is paid on death of the insured person. It is the cheapest and most basic form of life protection insurance. Only the listed beneficiary gets the proceeds of this policy. There is no savings component, no money back component. Only a lump sum payment death benefit. Maximum age coverage is 80 years old, subject to plan selected.

AIA Term life insurance policy does cover total and permanent disability with an add on disability rider. In the event the insured is disabled permanently, there is a payout.