Triple Protection

What Does Triple Protection Mean?

Triple protection refers to a combination life insurance policy in which an ordinary or straight life insurance policy is combined with a double-term policy to provide triple coverage for a specific period. If death occurs within this period, the beneficiaries receive a triple benefit. After the stipulated period ends, only the face amount of the ordinary life policy is payable as the death benefit.

Insuranceopedia Explains Triple Protection

The plan is ideal for young families, as it offers increased coverage during the period when children are young, fully dependent on their parents, and approaching maturity. A triple protection policy maximizes insurance coverage at a low premium.