TERM INSURANCE

Term Insurance is a kind of life insurance policy that provides financial protection to the beholder of the policy for a certain period of time or a specified ‘duration’ of years. In case of the demise of the policyholder when the policy is in force, then death benefit is paid to the beneficiary.

As we are now familiar with the Term Insurance, let us learn about the feature of the same.

Life protection against uncertainty

If there is a sole breadwinner in a family, then he/she can help his family by securing them by opting for the Term Insurance. Term Insurance can benefit the family by the premium paid by the person in small installments when he was alive. It also enables you to support your family even after your demise.

Riders

Once you opt for Term Insurance and learn about it, you can ass riders in your plan. Riders help you expand your policy benefits by paying an additional premium.

Shield fir critical health

In case of any critical illness that you might not know about now, Term Insurance can behave like a shield. A critical illness rider provides extra advantages when it is attached to the Term Insurance policy like if diagnosed with critical health, a lump sum amount will be paid to you to avoid any financial loss to your family that they have to go through during your treatment.

Term Insurance is thus quite different from that of life insurance plans. It is important to understand the difference between life insurance and term insurance to avail of the benefits of both. It is very important to opt for Term Insurance to help your family to cope with when the tough times come after your demise. To choose which insurance plan is best for you we are here to assist you, feel free to contact us anytime.