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The plan is a non-participating single premium one year term assurance plan. It provides pre-decided sum assured on death of the life assured during the policy period. Term insurance would also be suitable for a person with low income but requiring a large cover to protect his family's financial future in case of his demise. For similar reasons, this type of insurance would also suit a person who is the sole breadwinner in the family and has moderate income. Keeping in mind company has introduced Smart Life Insurance Term plan .