Term life insurance is a form of life insurance which offers a life cover to an individual for a certain period of time. In event of the death or disability of the policy holder during the term, the insurance company is required to pay the agreed amount to the nominee. This can be paid as a whole or on a monthly basis as chosen by the family of the deceased.
Why Opt for a Term Life Insurance Plan?
- Assured financial security to the family in the face of an unforeseen event
- Basic life insurance that offers life coverage without complicating it with add-ons and what not
- Higher returns as compared to the other life insurance policies
- Choice to choose the coverage amount, thus ensuring enough coverage
- Added benefits of survival at the end of the term
- Option to choose the term for which cover is required
- Chances of claim rejections are considerably low
- Low brokerage amount
- Flexibility of payment options
- Tax deduction benefits
Types of Term Life Insurance Plans
- 1. Regular term life insurance
- 2. Standard term life insurance
- 3. Convertible term insurance
- 4. Group term life insurance
- 5. Joint term insurance
- 6. Money back plans
- 7. Endowment plans
How does it Work?
- Buy a policy that suits your needs and is well within your financial abilities.
- Pay the premiums on time based on the mode of payment that was decided at the time of signing the insurance papers
- On the completion of the term, go ahead and redeem the benefits. In case of a mishap, the nominees can approach the concerned insurance firm with the policy document to redeem the sum assured
What to Look for When Choosing a Term Life Insurance Plan?
- Reliability of the insurance firm
- The claim settlement ratio of the company
- Add-ons offered
- Cost of the policy and the premium payable
- Inflation effect
What we Do?
At Antworks Money, we assist you in comparing the wide range of term life insurance policies offered by different firms. Taking into consideration all the crucial factors like premium amount, coverage required, your financial condition etc, we help you pick a term life insurance plan that is best suited for you.
We are associated with the best banks and financial companies and thus promise the best for you.
Get in touch with our experts to know more.