This Diwali, Bring Prosperity And Security With Term Insurance

This is where term insurance plans come into play. If you are looking out for the right time to buy a term plan, Diwali is a good reason to buy it.

What is Term Insurance Plan?

A term plan is a type of life insurance product that provides financial cover to your loved ones in case of an unexpected event. Term insurance plans offer high sum assured at low premium rates which makes them a viable option for people of all financial backgrounds.

How Can Term Insurance Plans Benefit You And Your Family?

Here is a list of all the ways in which a Term Insurance Plan can benefit you and your family:

• Whole Life Cover

A Term plan with a longer cover duration can ensure your family’s financial stability in case of an eventuality. A lot of term insurance offers comprehensive whole life cover extending up to 99 years of age.

• Affordable Premiums

Term insurance plans are available at affordable premiums which makes it a very budget-friendly option.

• High Sum Assured

Term plans offer a substantially high sum assured. You should ideally opt for a plan with a life cover of at least 10 times your annual income. A term plan with a high sum assured can make sure your family is able to meet their financial obligations in your absence.

• Additional Riders

Term plans allow you to include riders for more comprehensive coverage. You can add these to your base plan at minimal extra costs.

• Critical Illness Rider

A critical Illness Rider will help you cover the medical expenses in case you get diagnosed with a Critical Illness.

• Accidental Death and Disability Rider

Accidental Death and Disability Rider provides coverage in case you suffer from an unexpected disability or accidental death.

• Waiver of Premium

In case of a job loss, if you are unable to pay for the premiums, the remaining premiums will be waived off under this rider.

• Tax Benefits

You can also get tax benefits under section 80C and Section 10(10D) of the Income Tax Act.

How To Buy a Term Insurance Plan From Policybazaar This Diwali?

You can purchase a term plan in a few clicks, from the comfort of your home by following the simple steps mentioned below:

• Step 1: Go to the term plan page

• Step 2: Enter your basic details like name, date of birth, and contact number, and click on ‘View Plans’

• Step 3: Fill in your occupation details, annual income, smoking and chewing habits

• Step 4: After submitting the required details choose a plan most suitable to you and proceed to pay

In Conclusion

A term plan is an ideal solution to securing your family in the long run. And Diwali, the time of the year when everyone is wishing for long life and prosperous life, is the perfect time to purchase one. You can compare the different term insurance plans available in the market and buy the one most suitable for your needs.