Term Insurance And Its Importance.

Life is uncertain which is a known fact; some risks come uninvited and create a huge financial and emotional dent in one’s life. It is important to plan a financial arrangement for such contingencies in life to keep your family secured and protected.

Term Insurance Plans are the purest form of a Life Insurance which will help you to financially secure family against any loss of income which the family might face in absence of the insured person at the lowest cost.

 Reasons why one should have Term Insurance Plan:

• Low Premium rates:

The premium for term plans is much lower than any other insurance plans.

• Provides Financial Security:

It is a good idea to invest in a term plan that would take care of the financial needs of the family

• Flexibility in Paying Premiums:

Term plans offer flexibility to pay premiums annually, semi annually, quarterly or monthly.

• Death Benefit:

In case of unfortunate death of the Life Assured during the policy term whole Sum Assured shall be payable.

• Enhanced cover:

Certain insurance companies offer the flexibility to enhance the life cover during critical stages of the policyholder’s life.

• Tax Benefit:

The premium paid qualifies for deduction u/s 80 C. 

Things to consider before buying Term Insurance

1. Buy Plain term Insurance.
2. Determine the Appropriate Sum Assured.
3. Check the Exclusions.
4. Go for Trustworthy Insurance Company.