Term plan vs traditional insurance policy: Which is better and why

Insurance is a risk mitigation tool. It compensates against the financial loss suffered in case of premature death. There are many plans available that help in fulfilling your life goals effectively. In recent times, term insurance plans have become extremely popular. People are attracted to term plans over traditional life insurance policies. There are many factors why financial advisors and insurance companies are aggressively suggesting customers to go for a term plan.Insurance is a risk mitigation tool. It compensates against the financial loss suffered in case of premature death. There are many plans available that help in fulfilling your life goals effectively. In recent times, term insurance plans have become extremely popular. People are attracted to term plans over traditional life insurance policies. There are many factors why financial advisors and insurance companies are aggressively suggesting customers to go for a term plan.