This guide will teach you the many benefits of Term Insurance Plans

1. This guide will teach you the many benefits of Term Insurance Plans

2. Term Life Insurance Plans And Policies In India • Term insurance policies offer protection to the family of the insured in his absence • Securing family’s future is one of the most important life goals to achieve. This guide will tell you the many benefits of investing in a term life insurance policy.

3. Key Features Of Term Life Insurance Plan • Life Cover Benefit • Lump sum amount offered on death of policyholder • Joint life cover option - policyholder and the spouse are covered. • Policy holder can opt for additional online term policy using life stage benefit • High insurance protection cover at affordable pricing

4. Know How’s Of Term Insurance Plan: • To negate unforeseen future inflation and liabilities, it is best advised to invest in a term planthat relies in the range of 10-25 times the annual income of the policyholder or the insured person. • A medical examination may be conducted depending on the sum assured. These tests are conducted at home as per convenience and availability. • However, you may have to visit a diagnostic centre for certain tests.

5. The period for the term insurance plan can be anywhere between ten years to forty years. • There are different kind of premium plans available too. You can opt for either monthly payments or annual premium payments. • One of the additional benefits to opting for a term insurance is that you can add an additional protection cover as well as a life stage protection coverage. • Although, you cannot decrease the insurance cover.

6. Tax Benefits • The policy holder enjoys tax benefits over the premiums paid for the policy. • Additional benefits such as critical illness, accidental death or disability riders are offered by term life insurance plans. • The insurance policies come at affordable premium rates.

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