He had a term insurance with policy term till 60 years of age. Can we file a claim on his term insurance policy? —Navin SharmaStandard term insurance only covers death. To safeguard for this you can specify, in your Will, that your grandchildren are the intended beneficiaries of the traditional insurance. Once you buy your new term insurance you can stop paying the premium on your previous term plan and it will automatically lapse.

Source: Mint March 11, 2018 19:41 UTC