Life Insurance is a contract by which you can protect yourself against specific losses by paying a premium over a period of time. Since each one of us, during our lives are faced with numerous risks - failing health, financial losses, accidents and even fatalities, our instinct drives us to cover ourselves against those risks. Though an insurance cover can't protect you against the emotional losses arising out of these risks, it softens the economic crisis that usually accompanies these losses.
Simply put, life brings with it many surprises, both pleasant and unpleasant. By taking a Life Insurance Plan one can ensure that he / she is better prepared to face uncertainties in number of ways.
• Keep the highest possible term
• Keep the maturity age as long as possible
• Talk to 4-5 insurers or visit their websites to get premium rates
• Choose the plan that has the lowest premium at your parameters
• Undergo medical tests, if required
• Keep the nominees informed
• Pay premiums every year
What is Term Insurance
Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary. Know More