Know more About Term Insurance
What is Term Insurance?
Term insurance provides life coverage for a specific period, offering a high-value, affordable payout to beneficiaries in case of the insured’s death. It’s a straightforward way to secure a family’s financial future.
Key Benefits
High Sum Assured
Large coverage at low premium costs
Fixed Duration
Coverage for a specified term, typically 10-30 years.
Death Benefit
Lump sum payout to beneficiaries.
Optional Riders
Add-ons like accidental death and critical illness riders.
Why Do You Need Term Insurance?
Term insurance provides essential financial security for families, covering major expenses in the absence of the breadwinner. It’s a cost-effective way to ensure financial support for dependents.
What’s Included & Excluded?
Included
Death benefit, optional riders (accidental and critical illness), tax benefits.
Excluded
Death from self-inflicted injuries, involvement in criminal activities, and non-disclosure of medical history.
Latest Blogs
Term Insurance sub-categories:
1.
Level Term Insurance:
Provides a fixed sum assured for a specified period, with no changes in premium or coverage amount.
2.
Increasing Term Insurance:
Coverage amount increases annually while premiums remain fixed, providing enhanced protection over time.
3.
Decreasing Term Insurance:
Coverage amount decreases over time, often used to cover mortgage or loan liabilities.
4.
Return of Premium (ROP) Term Insurance:
Returns all premiums paid if the policyholder survives the policy term.
5.
Convertible Term Insurance:
Allows conversion to a permanent life insurance policy at a later date, offering flexibility.
6.
Joint Life Term Insurance:
Covers two individuals, typically spouses, under a single policy, with a payout on the first death.
