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Term Plan

Term Insurance is the simplest form ofu00a0life insuranceu00a0that only offers financial cover for a specific number of years. Term insurance plan provides a financial benefit to your nominee in case of your death during the term of the policy.<br>

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Term Plan

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  1. Term Plan

  2. Term Insurance A term plan is the simplest form of life insurance that provides financial protection for a fixed period in exchange for a regular premium. It ensures your loved ones are financially secure in your absence. If you pass away during the policy term, your nominee receives a death benefit, which can be used to cover essential expenses like food, healthcare, education, and more. Buying a term life insurance plan is an important step to protect your family’s future and provide them with a financial safety net when they need it most. It's a straightforward yet effective way to ensure their well-being.

  3. What is Term Insurance? Term Insurance is the simplest form of life insurance that only offers financial cover for a specific number of years. Term insurance plan provides a financial benefit to your nominee in case of your death during the term of the policy. As term plan is a pure life insurance policy it offers the financial benefit only in case of death for the premiums paid.  It does not return any financial value in case you survive the term of the policy. If you wish to get your premiums back after the term of the policy you can opt for term insurance with return of premium. You can buy term life insurance plan by paying a premium amount at a desired frequency for the required financial benefit for your nominee. For example, a healthy 25-year-old non-smoker male has to pay Rs.780 per month over 30 years for 1 crore term insurance.

  4. What is a Term Insurance Rider? A term insurance rider is an extra feature you can add to your life insurance policy for added benefits. Here’s how they work: Accidental Death Rider: Provides extra money if you pass away due to an accident. Disability Rider:  Offers additional support if you become disabled. Critical Illness Rider:  Pays a lump sum if you’re diagnosed with a covered serious illness. Premium Waiver Rider:  Covers future premiums if you’re diagnosed with a critical illness or face other specified situations. These riders enhance your coverage and offer extra protection based on your needs.

  5. Thank You

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