Most individuals who have bought insurance, or thought about purchasing it have looked at Term Life Insurance as one of their options. Since this is a straightforward simple insurance, where only death benefits are offered, it is sometimes overshadowed by more aggressively marketed insurance packages.
Let us take a glance at how Term Life insurance can help you in your financial planning & clarify the various factors involved.
In case you are the only bread winner of the relatives, term life insurance is must. Term life policies offer death benefits; payout is made to the relatives of owner holder after any mishap in the work of the period of the owner. It helps your relatives financially in their critical time when you would not be there to look after them. While at first glance, such a owner may not appear pretty, think about the benefits before purchasing it:
• There's no add-ons so you only pay for a life insurance, which comes in handy for your relatives in case of an untimely demise. This is the lowest cost at which you can cover life risk.
• In case you take coverage for say 20 years from the age of 35 to 55, you are insuring your relatives finances for your working years where you bear financial obligations.
• You get income tax benefits so the actual cost of insurance is lower than what you pay.
• It lets you target insurance for a specific time period in the work of which you need it.
• You can buy it at any age, everytime you require to insure your loved ones financial future.
• Term life insurance purchase frees you from financial security planning, & you can plan the remainder of your finances purely as investment, without having necessarily to opt for an insurance linked product.
Term life insurance is a great way to guarantee peace of mind to you & your relatives at a low cost of premiums. It’s one of the oldest forms of insurance, & lots of mature & well reviewed products are available in the market. This gives you lots of choice & you can compare & buy an appropriate owner conveniently.
By: Rashid
Let us take a glance at how Term Life insurance can help you in your financial planning & clarify the various factors involved.
In case you are the only bread winner of the relatives, term life insurance is must. Term life policies offer death benefits; payout is made to the relatives of owner holder after any mishap in the work of the period of the owner. It helps your relatives financially in their critical time when you would not be there to look after them. While at first glance, such a owner may not appear pretty, think about the benefits before purchasing it:
• There's no add-ons so you only pay for a life insurance, which comes in handy for your relatives in case of an untimely demise. This is the lowest cost at which you can cover life risk.
• In case you take coverage for say 20 years from the age of 35 to 55, you are insuring your relatives finances for your working years where you bear financial obligations.
• You get income tax benefits so the actual cost of insurance is lower than what you pay.
• It lets you target insurance for a specific time period in the work of which you need it.
• You can buy it at any age, everytime you require to insure your loved ones financial future.
• Term life insurance purchase frees you from financial security planning, & you can plan the remainder of your finances purely as investment, without having necessarily to opt for an insurance linked product.
Term life insurance is a great way to guarantee peace of mind to you & your relatives at a low cost of premiums. It’s one of the oldest forms of insurance, & lots of mature & well reviewed products are available in the market. This gives you lots of choice & you can compare & buy an appropriate owner conveniently.
By: Rashid
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