We are all mortal. This is the universal truth. Death is certain, but we are not sure on the causes and the time of death. A person may expire in an accident at a young age. Heart disease is common among people of all ages. From 1990 to 2016, there has been a drastic rise in the number of cases of strokes and heart disease. This has gone up by around 50% in this period.
Just imagine a situation where a person expires after a heart attack, and there is no one to take care of the financial needs of dependents. To keep your family financially safe on an unexpected demise, avail a term life insurance policy.
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Term life insurance is a form of life insurance and is renewed each year. When you avail a term insurance plan, the insurer pays the beneficiaries/nominees the sum assured on demise within the policy term. Term insurance has no survival benefits.
Insurers today offer different types of term insurance policies, to cater to frequently changing customer preferences and needs.
See Also: Term Insurance For Indians
See Also: What is a Term Insurance Plan?
A term insurance plan is a must, if you have dependents. It is the best way to safeguard dependents from both short and long-run financial obligations like education loan, home loan on an early demise. Term Insurance is high cover at low premium.
Term plans are very easy to understand, compare and purchase. If you are planning to buy term life policy for the first time, spend time to understand types of life insurance plans and pick up one which matches needs.
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