5 Reasons Why You Must Have A Term Insurance Cover In Life! - PowerPoint PPT Presentation

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5 Reasons Why You Must Have A Term Insurance Cover In Life!


Click here For more details Presenting the iSecure Insurance Plan; a level cover term assurance plan that secures your family's financial needs by giving you a high sum assured at a low cost. – PowerPoint PPT presentation

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Title: 5 Reasons Why You Must Have A Term Insurance Cover In Life!

5 Reasons Why You Must Have A Term Insurance
Cover In Life!

  • The importance of having a life insurance cover
    is being felt across the society. With
    uncertainties rising by the day and every
    familys need for financial stability, the
    awareness that insurance coverage can help
    families deal with the death of a loved one, at
    least financially, is ensuring the growth of life
    insurance industry. More and more insurance
    providers are coming up with different plans
    catering to individual and varying needs. In such
    a complex marketplace it becomes difficult to
    select the right kind of a plan. Therefore, to
    keep things simple, buying a term plan is the
    best advice one can offer!

  • What Is A Term Plan?
  • It is the simplest of all life insurance policies
    that offer to provide death benefits in case the
    insured dies during the term of the plan. It is
    the purest of insurance plans that cover life. If
    the insured outlives the term, there are no
    maturity benefits involved.
  • Why Is It So Important?
  • Term plans are considered to be the ultimate
    plans that need to be part of your insurance
    bouquet. If you really want to live peacefully
    without worrying about your familys financial
    future in your absence, you must buy a term plan.

  • For better understanding, presenting herewith are
    the top 5 reasons why you must buy a term plan,
  • 1) Financial Stability
  • Death of the bread-winner of the family or one of
    the earning members of the family can turn life
    upside down for the rest of the family members.
    It becomes difficult to meet household expenses
    and take care of the needs of individual family
    members. Term insurance plans offer to pay
    complete sum assured at the time of the death
    without asking any questions. This money can be
    kept in a fixed deposit or can be used to take
    care of routine expenses while the family can
    recover from their loss and plan to replace the
    insureds income.
  • 2) Safeguard Future
  • Everyone has certain obligations and
    responsibilities towards children, spouse and
    parents. Death can put a full stop towards
    meeting these obligations. But with term
    insurance in place, one can plan their future
    accordingly. For example, the insured can keep in
    mind expenses towards childs education, marriage
    etc. and buy a term plan with the right amount of
    sum assured. In case he passes away, the funds
    from insurance can help his child to get
    education and married without facing financial
    hardships. Similarly, parents old age and
    spouses life can also be planned adequately.

  • 3) Debts
  • This is the age of loans and almost everyone has
    some or the other loan on their head. It could be
    a vehicle loan, home loan or a personal loan. The
    proceeds from term insurance plan at the time of
    death can be used to pay off these debts so that
    the family members are not stressed about taking
    care of such liabilities. It makes their life
    easier and little bit stress free.
  • 4) Low Premiums, Massive Coverage
  • Due to the simplicity of the plan where there is
    no maturity benefits involved, the insurance
    companies are able to offer the customers huge
    sum assured at dirt-cheap premiums. For example,
    you can buy an insurance cover of Rs. 1 crore for
    as little as Rs. 7000/- only! This helps to save
    money while getting adequate financial coverage
    and you can use the saved amount for other
    financial priorities. Also, if you buy these
    plans online, the premiums tend to go even lower
    since there are no agent commissions or
    administrative costs involved!

  • 5) Riders
  • Even though term insurance only offers life
    coverage, for customers who want a bit more with
    their insurance coverage are offered additional
    riders for comprehensive life coverage. These
    could involve accidental coverage, critical
    illness coverage and the likes that can be
    availed by paying extra premium. This ensures
    that you get maximum benefits of life insurance
    without paying through your nose!
  • Term insurance plans are the best bet when it
    comes to life insurance. The best way to buy them
    is to go online and search through various
    available term insurance plans. You can find
    complete information on a single website and
    after entering the relevant details like your
    age, smoking habits etc., you can sift through
    data and compare various term plans. It is
    important to study the plans in great detail,
    understand their terms and conditions and compare
    various plans based on not only the premium
    amount, but also based on various features and
    benefits. Once youre satisfied with a particular
    plans benefits and overall features, you can buy
    it online with just a few clicks, right from the
    comfort of your home.
  • If you want a financial coverage to help your
    family members in your absence, term insurance is
    the right financial tool for you. Make the wise
    decision, now!

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