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Should New Married Consider Term Life Insurance?

The need and importance of life insurance for everyone is undeniable. A good life insurance plan is an investment as well as a security.

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Should New Married Consider Term Life Insurance?

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  1. Should New Married Consider Term Life Insurance?

  2. The need and importance of life insurance for everyone is undeniable. • A good life insurance plan is an investment as well as a security. • Your Life Insurance Planneeds to be tailored to the needs of your family. • While buying a plan one needs to take into consideration the current income, loans if any, the expenses etc. of a family.

  3. Your life insurance will only be useful if it provides sufficient cover to your family in case of an unfortunate incident. • There are a lot of life insurance companies in India that provide multiple plans. • But term policy or term life insurance is considered one of the most popular plans out there.

  4. Term insurance is insurance that is valid for a specific period of time and offers death benefit to the nominee in the event of the death of the insured. • The premium for term insurance is low and is often the only factor that drives people to opt for term insurance. • But this type of insurance has numerous benefits. • Even for young people or newly married couples, this type of insurance can provide an array of benefits.

  5. If You’re Young and are Wondering if a Term Life Insurance Plan Holds any Benefits for You, Here’s your Answer.

  6. Simplicity

  7. Term life insurance plans are straightforward. • Unlike other insurance plans this type of insurance is simple and easy to understand even for the layman. • This makes it easier for the policy holder to make proper, timely premium payments.

  8. Flexible

  9. Opting out of a term life policy is much easier than getting out of other policies. • In term policies if you stop paying premium the risk cover ceases and the policy ends. • Nothing is payable to you as there is no savings element in the policy.

  10. Tax Saving Tool

  11. We’re constantly looking for ways to save our income tax and a term policy is perhaps your best option. • The payment towards the premium of term policies is exempted from income tax and also the payment received when you file a claim is not subject to any income tax.

  12. Thank You

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