What Makes the Best Term Insurance?
Why to go for Term Insurance? • We do not know what the future holds in store for us. • Protecting yourself and your family against any contingency is crucial. • With term insurance, you can provide necessary financial security.
What is Term Insurance? • Where a life insurance policy offers coverage for a ‘specified term’ or definite period of time, it is called term insurance. • Term insurance offers death benefits to the insured on his or her death during the term prescribed in the policy.
Types of Term Insurance • Convertible Term : Allows you to convert into whole life or permanent insurance policy, without any consideration of health conditions. • Increasing Term : Permits you to increase the death benefits at higher premium later
Types of Term Insurance • Mortgage Term : Offers the benefit of decreased mortgage term, which in turn results in decrease in death benefit. • Annual Renewable : Allows you to renew the term insurance at a higher premium for guaranteed coverage
What Makes the Best Term Insurance? Here are few points to consider while buying a term insurance: • Make sure there is adequate coverage to help meet all expenses, including your loan and bills, in your absence. • Ensure that whole of the sum assured amount will be paid . This is possible with insurers having higher claim settlement ratio.
What Makes the Best Term Insurance? • Choose the one with affordable premium : Need enough research to find the best term insurance that offers adequate coverage at low premiums. • Look for riders that provide additional coverage : High competition in the field helps you exercise your choice for the best term insurance that give extra coverage, such as critical illness and disability coverage by paying a little extra premium.
“YOU CAN NOW LOOK FOR THE BEST TERM INSURANCE TO SAVE YOUR FAMILY IN FUTURE”
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