Term insurance represents the most straightforward form of life insurance. It provides a monetary benefit to your designated beneficiary in the event of your death, in exchange for fixed premiums over a specified duration. Starting early is advantageous since it allows you to secure lower premium rates and ensure long-term coverage. This plan offers financial protection to your family, aiding them in managing expenses and debts during your absence. Its cost-effective nature guarantees substantial coverage for
Term insurance is a fundamental life insurance option that delivers financial support for a predefined period. This type of insurance plan ensures that your family receives a financial payout if you pass away within the policy term. As a pure risk protection plan, term insurance only disburses the death benefit if all premiums are paid on time. Standard term plans do not provide any return benefits if you outlive the policy term. However, if you prefer to receive a payout upon surviving the policy duration, you can choose a term plan with a return of premium feature. You can obtain a term life insurance policy to protect your family financially by paying regular premiums at a frequency you choose when purchasing the plan. For instance, a healthy, non-smoking 25-year-old male can secure a ₹1 crore term insurance policy for just ₹767 a month, providing coverage until the age of 60 (until retirement).
