Blog

TERM PLAN

A Term plan keeps each and every family secure from any financial challenges if any unfortunate event occurs. Life is uncertain, thus, we should move ourselves with proper steps through exact planning. Her, in these cases, term plans provide a life cover of a customer’s choice at affordable premiums. With this life-coverage, your loved ones get an assured sum in case of any unwanted incident happens during the policy-period.

Term life insurance offers a great financial cushion to one’s family in case of the most unfortunate time in their lives. It is a great way to make sure that one is with the loved ones at every step of the way. The main purpose of a term plan is to provide financial protection to the beneficiaries for the near-ones of the insured persons by paying death-benefit upon his/her unfortunate death during policy period.

Some term-insurance companies provide term-insurance benefits throughout the rest of one’s life i.e. one can get whole life coverage under term insurance upto the age of 99. Not only financial security is provided through term insurance plans, but also an additional peace of mind is provided through Term-plan. In one hand, ‘Renewable Term Plans’ provide the right to renew for another period when a term ends, regardless of the state of one’s health; again, on the other hand, ‘Convertible Term Policies’ often permit a person to exchange the policies for permanent plan.