https://www.taxtmi.com/news?id=44151 Term insurance functions primarily as income replacement during an individual's active earning years rather than lifelong coverage. The policy's operative purpose is to secure a lump sum payment for financial dependents to meet obligations such as mortgages, education costs and daily living expenses. Continuation of term cover beyond typical retirement ages often becomes less critical where debts are repaid and alternative income or retirement corpus exists, although extended tenure may be justified by ongoing dependents or prolonged earning capacity. The industry is shifting toward personalized tenure selection and advising clients to pivot to retirement, health and wealth preservation solutions when appropriate. en-us Tue, 20 May 2025 14:31:05 +0530 Tue, 20 May 2025 14:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=44151 Term insurance functions primarily as income replacement during an individual's active earning years rather than lifelong coverage. The policy's operative purpose is to secure a lump sum payment for financial dependents to meet obligations such as mortgages, education costs and daily living expenses. Continuation of term cover beyond typical retirement ages often becomes less critical where debts are repaid and alternative income or retirement corpus exists, although extended tenure may be justified by ongoing dependents or prolonged earning capacity. The industry is shifting toward personalized tenure selection and advising clients to pivot to retirement, health and wealth preservation solutions when appropriate. News - Tue, 20 May 2025 14:31:05 +0530 https://www.taxtmi.com/news?id=44151