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Please help in insurance policy of self for term insurance
Hi Souvik, thanks for reaching out. Term insurance policies are usually pure life insurance covers that offer a high sum insured at low premiums. The premium will depend on your age and the sum assured amount you go for. Typically, for the same amount of sum assured, the premium will be lower for someone who buys the policy at a younger age than their older counterpart. The premium gets locked for the entire policy term at the rate you purchase the policy.
It is advisable to take a term life insurance policy until the age that you have liabilities (e.g., children's education, marriage, loan repayments, etc.). While pure term life insurance policies do not usually provide maturity benefits, they are effective in ensuring that all your liabilities are effectively met in your absence without having to shell out high premiums as in traditional life insurance. Nowadays, however, there are some term life policies with the return of premium option as well.
We have arranged a callback for you from one of our term insurance advisors to help you find the right plan for yourself.
You can find more information on term life policies here: Term Insurance
