Life Insurance

Term Insurance:

It is an insurance plan, which provides financial coverage to the person insured for a certain period of time, it provides the person who has taken the term insurance an assured sum of money after the period of the policy expiries; In this case the person doesn’t have to a deceased. However if the person is deceased then the family gets an assured sum lump sum to take care of their needs in the years to come. Term plans are now the most sought after insurance plan by an individual, since it has a couple of advantages to it.

• It helps in clearing off loans and liabilities.
• It helps family to continue to live happily.
• The lump sum amount helps provide illness cover for all types of illness for the family.
• The plan has an addition rider; it provides additional money for accidental death.
• The plan is designed in such a way that in case of death or any uncertain case, the plan payout will ensure the family is secured.

These Insurance Plans are designed, in such a way that in case of death or uncertainty a family's core financial needs are taken care of. This helps a family to have sound financial independence, even if the ensured is not around, with tax benefits.