Term Insurance

Term insurance is one such type of product that can save you and your loved ones from the financial sufferings brought upon by unforeseen events such as diseases, disability, and death. Any individual with financial dependents should consider purchasing an online term insurance plan. Let's learn more about them, they could be:

• Parents: Parents are generally the single breadwinner of the family and the only financial support for their children. Thus the best way to secure the financial future of the children is to have a term life insurance policy. In this, a death benefit is paid to the beneficiary of the policy in case of the unfortunate demise of the insured person.

• Young Professionals: If you are a young professional who has recently started working, buying this type of life insurance plan is highly recommended. The reason for the same is very simple, you don’t have a lot of financial liabilities so you can get a substantial coverage amount at lower premiums.

• Newly Married: A term insurance plan can work as a financial safety net for your spouse even in your absence. In case of any eventuality, the term life insurance plan not only provides financial security to the beneficiary but also takes care of the liabilities.

• Taxpayers: Along with the benefit of life coverage, one of the major advantages of purchasing this policy is that it offers the benefit to save on taxes. The premiums paid towards the term policy are tax exempted. Thus, if you want to save on taxes along with the benefit of life cover then you should certainly consider buying a term insurance plan.

• Retired or those who are recently retired: At this stage of your life you may think twice about buying a term plan. This can be because of the lesser number of responsibilities at this age. However, if you have a non-working spouse or child, you must buy a term plan even at the sunset years of your life.

• Self-Employed People:  If you come under this category, buying a term life insurance plan is beneficial for you. This is to ensure that the aspirations of your financial dependents are not compromised.

• Working Women:  For working women, managing work and the house could be difficult. But you can always safeguard your loved ones by buying a term life insurance plan.