As a seasoned professor of finance, it's important to understand the concept of insurance plan terms. These terms represent the duration of an insurance plan, which concludes with the policyholder receiving the sum assured. Whether it's at the end of the term or in the case of the policyholder's death, this period is crucial in determining the benefits of the plan. It's imperative to have a firm grasp on insurance plan terms in order to make informed decisions when it comes to financial planning.
