Insurance is a service that allows the insured individual to shift their risk to the insurer in order to keep the dependents in their family safe, secure, and assured about the future. Unforeseen risks and small accidents help us realise the significance as well as uncertainties of our life. Any individual can not avoid the risks and uncertainties, but can keep oneself protected and secured financially with the help of insurance.by doing so, the individual would be able to impact not only his/her own life but also that of their family. Life insurance plans compensate against the financial loss that is suffered in case of premature death, and also helps fulfil life goals effectively. Term plans are different from other types of life insurance plans pertaining to various aspects. Life insurance plans have many variants out of which term insurance plans are one of the types of these plans. It is important to understand what is life insurance vs term insurance as an informed buyer.