Term Insurance – The Purest Form of Protection for Your Family
Overview: Term insurance is an affordable way to secure your family’s future. It provides a high sum assured at low premiums, ensuring your loved ones remain financially secure in your absence.
Key Features:
High sum assured at low premiums.
Flexibility to choose the policy term.
Tax benefits under Section 80C and 10(10D) of the Income Tax Act.
Optional riders for critical illness or accidental death.
Why It’s Important: Life is unpredictable, but your family’s future shouldn’t be. A term insurance plan provides financial stability and ensures that your loved ones can continue their lives without compromise, even if you’re not around.
Benefits:
Comprehensive financial protection.
Affordable premiums.
Simple and easy to understand.
FAQs:
1. How is the premium calculated? Premiums are based on your age, sum assured, policy term, and health condition.
2. What happens if I outlive the policy term? In most cases, no benefit is paid. However, some plans offer return-of-premium options.
3. Can I add riders to my term plan? Yes, riders like critical illness or accidental death benefit can enhance your coverage.
