Term Life Insurance

[maxjlone]

The sole objective of Term plans is to serve the protection needs of the customers and by doing so, safeguard one’s family from the financial implications of unfortunate circumstances that one cannot foresee.These plans are pure risk cover plans with or without maturity benefit. These pure risk plans cover your life at a nominal cost and you may want to take this plan to cover your outstanding debts like a mortgage, a home loan etc.Term life insurance is the simplest form of life insurance. Term life insurance is a type of temporary life insurance, as it covers only a specific period of time. Term life insurance provides a pre-set amount of coverage if the policyholder dies during the period of time specified in the policy.

[aarohi]

I have taken LIC jeevan Annad for 16 years.
However, I want to know if term insurance is better as Jeeva Anand is expensive . However, term insurance needs to be taken for whole life(ie premium needs to be paid for whole life.)

Jeevan anand cash outflow is more for 16 years.
Whihc one is better?
I have taken jeevan anand 1 month back and should I cancel it and take term insurance now?