Health and Term, Investment plan difference among life Insurance products

Question

Accepted Answer

Health insurance covers medical expenses, while term and investment plans provide financial protection and growth.

Health insurance provides coverage for medical expenses and treatments.
Term insurance offers a lump sum payment to beneficiaries in case of the policyholder's death during the term of the policy.
Investment plans combine insurance coverage with investment opportunities to grow savings over time.
Health insurance premiums are typically higher due to the comprehensive coverage provided.
Term insurance premiums are lower as it only provides a death benefit during the specified term.
Investment plans offer the potential for higher returns but also come with market risks.
Examples: Health insurance - Blue Cross Blue Shield, Term insurance - State Farm, Investment plan - Prudential

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