Term Insurance

As per the Insurance guidelines, you are allowed to cancel the policy with-in 15 days from the date of Issuance of policy. For more details, please read the Plan Brochure carefully or talk to our advisor at the time of purchase.

Know More About Term Insurance:

Term Insurance is basically a traditional protection plan that offers the needful financial assistance to your family in case of your demise. It is the best way to secure your family against financial crisis.
Term Insurance is a kind of life insurance that covers life risks against any unforeseen situation. It's the best way of securing your family against any kind of financial crisis. With the small Investment, you can have huge Sum Insured. It helps your family by maintaining the dignity they deserve. It will be there to support your family during hard times and can also assist in living an independent life after you. Term insurance plans can cover the risk of death, disease & disability. With the same, family members of insured get desired financial security.

Why Is Term Insurance The Best Investment?

Term Insurance is a plan that offers wider coverage at an affordable price. It's recommended for everyone who is eligible to get it. You can invest a small amount as well.
There are lots of benefits that Term Insurance plans can offer. It will not be wrong to say that Term Insurance is not a luxury. Coming years as Lifespan will reduce, Life risk will increase, then people will understand its relevance even more. Smart people always make the decision before the storm. Before it's too late you must buy the appropriate Term Insurance Plan.

Some of the important benefits it offers are as follows:-

Family Security

One of the most important parts of your life is your family. Have you ever thought what will happen to them if you no longer exist? Best way to exhibit your love towards them is buying them the gift of security. Term Insurance plan is a tool to ensure the security of your family. The cost of Term Insurance is negligible but the benefits are unparallel. First of all, it provide the needful financial assistance to your family in case of need.In case something happens to you, your beneficiary gets all the Sum Insured through which it will be easier for them to maintain their standard of living. You can decide the amount of Sum Insured as per your needs and savings. A term insurance plan doesnt cost high,it is affordable as a cup of coffee.
The cost of the premium also depends on the amount of Sum Insured besides other factors. It's good to take the coverage as per the current lifestyle that you have. This can assure to manage the mundane expenses of your family. Your beneficiary can take the claim in flexible ways as it is suitable. The beneficiary will get the death benefits in lump sum or combine it with equal monthly installment over the years.
There are many insurance plans that you can buy. It is advisable for you to invest in the same, after checking all the features and factors.Each plan carries some unique benefits that can easily go well with the different needs of buyers. You have to buy the one according to your needs.

Achieving Financial Milestone

We all have many goals that we aspire to achieve. These plans are applicable at various thresholds of life. The goals that we set also involves our family in a subtle way. Have you ever thought what will happen to these goals if you no longer exist to fulfil them? Good news is that you can still achieve your dreams set for your family in your absence. This can be possible with the help of Term plans.
Most of the goals need money to get fulfill, we can earn money to achieve only till we are alive. To secure the funds for our family after our demise Term Insurance is the only option.
You can buy a suitable plan through various platforms. The best part is even if we are alive till the policy term we are entitled for refund or other benefits. However, this facility will completely depend on the kind of plan we have chosen. We can always select the plan as per our financial aspirations. The Sum Insured should be set based on our financial goals and monthly earnings.

Tax savings as per Section 80C & 80D

Yes, this is an additional benefit of investing in a term isnurance plan. On buying a term insurance policy you will be liable to get tax benefits under section 80C. It is a combination of wider coverage and tax benefits. So, as it comes out with dual benefits, it is always a win win situation to invest in a term insurance policy.

Rider Benefits

Riders are add-on benefits that you get with these policies. They are the top-ups that provide add-on coverage. Riders cover all possible eventualities subject to the Term plans. Presence of various additional riders such as personal accident, waiver of premium, critical illness, etc will help at different stages of life. It is always advisable to add riders in your term insurance policy to get wider coverage and assistance against many unwanted contigencies. There is no doubt in saying that hazards often come uninformed, with an effective term insurance and riders, you will be abe to cover almost all possible risk and can also offer finnacial assistance to your family to live a stable life after you. When it comes to riders, it is important for you to not make any mistake in choosing the appropriate one. Examine your needs first and then choose accordingly. PolicyX.com can easily help you in the same.

Maximum gain with small Investment

Term Insurance plans are available at a very nominal amount. It may be as low as some hundreds or thousands per month. As compared to that the Sum Insured can be in lakhs and crores, it is generally 25 to 30 times more than our salary. In case of any eventuality that leads you towards death, the nominee and beneficiary will be liable to get death benefits. He/she have to inform the insurer and the rest will be taken care by the company itself. It is always adivisable for everyone that before buying any policy, go through terms and conditions of plans so that you will be aware that in which situation the claim will get approval or face rejections. The best thing about a term insurance is the wider coverage and the presence of additional riders. Moreover, with the presence of a few exclusive term insurance plans that offers returns as well, it become the first choice of investors for investment. Whatever little amount that you pay as a premium offers much more benefits than it's worth. The returns on Investments is way beyond our investment. In fact, it's that high that investment seems to be negligible.

Lesser Claim Rejection Ratio

Claim Settlement of Term Insurance is usually more than 90%. In very rare circumstances if the policy term is not adhered, the claims get rejected. It is always better to read the policy documents before buying any plan to avoid rejections. Often people are unaware of some clauses. As a result, there are great chances that their claims may be rejected. At the same time, one thing more that you should take care is that at the time of purchase, you should not hide anything from the insurer. This can become another reason for the rejection of the claim. By staying aware and honest there is lesser chance of claim rejection.

Buying Flexibility

There are many channels from where you can buy Term Insurance plans. PolicyX.com is the right platform to buy term insurance plan. It will help you with free insurance quotes through which it will become quite easier for you to get the best one out of all at an afforadble price. The helpful customer care service will assist you at every stage.
A few reasons which makes the PolicyX- the right platform is affordable cost, easy buying process, less confusion, no spams, etc. Moreover, at PolicyX.com you will get deatiled information about all available term insurance plans which makes it easier to buy the best.

Survival Benefits

Well, there must be a few policies only that will be able to offer returns or refunds of your premium. Not all term insurance plans are liable for this and those plans who offer such benefits will cost really high as compared to basic term insurance plans. However, these plans reimburse the entire premium that you have paid.You can avail benefits even if you survive after the policy term. Some Term Plans not only covers the risk of death but other life risks as well. The deadly disease, accidents, disability are other risks that need coverage as well. You can go for riders to get coverage against the same.

Variations of Term Plans as per our suitability

There are various kinds of Term plans that offers many different kinds of benefits. You must choose the plan as your current need. Many customized plans are easily available. Every person may have different requirements. You can always choose the plan that is most suitable for us. Variations come in two different ways. People often get confused about these differentials. You have a choice between Insurance companies and Term plans. Before buying and Term Insurance you can always compare them from online comparison websites.

Claims Benefit

The beneficiary can take the claim either in a lump sum or in monthly installment. The best thing about the term insurance plan is no matters what is the inflation rate, your premium will remain same. When it comes to claim settlement, it is very easy and simple. You have to inform the insurer about the demise and submit a few essential documents.After verification of documents given by beneficiary, the claim is processed.
Maturity benefits can only be taken after policy tenure. In other cases, it will be applicable as and when an event occurs. Here also it is based on what kind of coverage you have taken. If it's only for life than claim will be applicable if policyholder expires. But if other additional benefits are chosen than claim will arise in other situation as well. These situations can be either at the time of any critical illness or any disability as well. You must understand the policy document carefully before taking the claim. These way not only you will get the claims faster but you will be aware how much amount you should be getting.