Financial Matters

Term Insurance Plans for your family

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Term insurance is a typical pure form of a life insurance product. It provides the much needed financial protection in case of death of the insured, during the policy tenure. A term insurance plan is also one of the most affordable life insurance covers. It is essentially designed to financially protect family members in case of death of the sole bread-earner.

It also helps one’s family meet their financial needs from their household expenses to rentals in one’s absence. When one considers buying a term plan, one has to make an educated choice about the life cover selected. There are a lot of important things one need to keep in mind while deciding the term plan.

One of them would be the amount of cover, the amount that should help one’s family maintain their lifestyle. Inflation should also be kept in mind and lastly, it should take care of the existing liabilities if any. Like Home loans, Personal Loans or Car Loans etc preventing the worries of EMIs and/or repayments.

 

What is Term Insurance Plan?

A term insurance plan is again, the simplest form of financial protection. It’s simple as it can help one’s family meet its financial needs and there aren’t many fancy add-ons. A Term plan offers some peace of mind with very affordable premiums. Also, a life cover that we can choose depends on our family’s lifestyle and financial needs.

Some of these good term plans can also be bought online. With just a few clicks, and without any lengthy paperwork. You can check the life settlement calculator to know exact details.

 

Some of the Useful Features under a typical Term Insurance Plan:

  • A Term Life Insurance plan is the most Cost-Effective plan.
  • One has to Pay the Policy Premium Only Till Retirement
  • There is Flexibility to Receive Payout as Monthly Income. This is in Addition to the Lumpsum Amount
  • One can choose Riders to Make the Term Plan more Comprehensive
  • One can further Enhance/Increase the amount of cover at Major Life-Stages

 

 

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© Gunjan Gupta Upadhyay. Unauthorized use or duplication of this material without express and written permission from the author is strictly prohibited. Any Excerpts or links to be used, provided full and clear credit is provided with proper links to Gunjan Gupta Upadhyay or tuggu.n.mommy. This is to be done with the right and specific direction to the original content.

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25 thoughts on “Term Insurance Plans for your family

  • We should invest for future plans. These tips are great to find the best investment plans.

    Reply
  • It’s so important to do right financial planning for your family and having term insurance is one I learned from my dad!!

    Reply
  • Noor Anand Chawla

    Wow this information is completely new to me Gunjan. I am so glad I came across this post.

    Reply
  • This is vital information dear, I surely am discussing it out in family.

    Reply
  • receiving payout as monthly income sounds pretty nice. Will check this out.

    Reply
  • Thanks for sharing the details, it is really good to know more about term insurance

    Reply
  • Term insurance helps in systematic savings and ensuring protection, without worrying about huge budgets. This is a helpful post.

    Reply
  • Sharvari

    Term insurance plans are great as you only pay premium. Good to learn more about the same by Icici.

    Reply
  • Term Insurance is very important to protect the whole family for its financial needs. You have covered all the important points.

    Reply
  • Insurance is must for anyone. Good to know about the brief from your post. Will definitely check out more for the same. Thank you

    Reply
  • Term Insurance plan is very helpful when you have a regular income and you need to invest it properly. The terms are flexible too.

    Reply
  • Jhilmil D Saha

    This is a very useful and informative post for us, we were thinking of some insurances. This post is very beneficial. Thanks for sharing this!

    Reply
  • Good to know about term insurance plans. I wasn’t quite clear about them .

    Reply
  • Anita

    Life insurance is a very important topic. One of my first financial plans after I started earning. Useful post indeed.

    Reply
  • Nimmy

    I’m.glad you chose this topic which usually bloggers won’t choose. Definitely helpfofor people like me.

    Reply
  • Deepika

    Very useful post. Everyone should know about The term Insurance Plan.Thanks for sharing.

    Reply
  • MISHA JAIN

    That’s one very important thing you talked here. We recently closed ours with ICICI bank.

    Reply
  • Term insurance plans are best for the financial security of a family in case of death of the earning member. They’ve been made simple and hassle-free too.

    Reply
  • Prerna Sinha

    Having insurance is very important. And term insurance plan gives us so any benefits. And term insurance plan for family looks helpful and beneficial.

    Reply
  • This is such a detailed post on term insurance plans.. I had no knowledge on this thing.. Glad to know in depth now..

    Reply
  • Papri Ganguly

    I never knew such valuable facts about term insurance. This article is really helpful and informative. Thanks for sharing with us

    Reply
  • Well explained points here. Insurance is quite important for everyone. And term insurance has a lot of benefits, as mentioned here.

    Reply
  • This is a really informative post for someone looking to invest in term insurance plans for their family, as it clears a lot of doubts

    Reply
  • Noor Anand Chawla

    I did not know anything about Term Insurance Plans. I am very grateful that I came across this post. I will look into it now.

    Reply

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