New Delhi, July 11 -- Term insurance is often considered the foundation of a sound financial plan, yet many people remain unsure about how much cover they actually need or how long they should stay insured. Here are the key things to look at

A term insurance policy is the simplest and most affordable form of life insurance that provides financial protection to your family if you die during the policy term. In return for regular premium payments, the insurer pays a pre-decided sum assured to your nominee in the event of your death.

However, unlike traditional life insurance plans, term insurance does not offer maturity benefits if you survive the policy period.

"We advise people to buy term insurance for the duration during which their ...