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The policy holders buy insurance cover from an insurance company, and pay specific periodic amounts (premiums) for the term (duration or life) of the policy. If the insured dies before the this term is completed, a guaranteed sum (the face amount of the policy) is paid to one or more named beneficiaries.
Human Life Value calculation is a way of deciding how much life insurance an individual may need. The person's income, expenses, and years remaining in the workplace are considered, as well as the depreciating value of money.
As a thumb rule, insurance cover of an individual's life should not be less than his income for 10 years.
Secure a Bright Future for Your Loved Ones Today!
Life is nothing if not unpredictable and given the innumerable probabilities in life, there are simply no guarantees to bank upon. While you are there today to work hard for making the present moments of your family comfortable and happy, the uncertainity can still not be ruled out. Insurance is one sure shot way of ensuring a safe and financially stable life for your loved ones, even when you are not there for them anymore.
Life Insurance is an ideal way to provide for the future economic support to your dependents after your death. If one takes a life insurance policy and something unfortunate happens during that term, then your family will be entitled to get the set amount of the policy. Thus, they will have sufficient financial support to attend to any immediate liabilities and will have enough buffer time to plan things ahead at a mental ease.
Term Insurance is a type of life insurance only, a byproduct that implies financial coverage provided to the policy holder for a particular time period; if the insured dies during the term then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the policy. It is the most basic and inexpensive form of insurance that offers maximum death benefits and it can be availed for a fixed duration.
Stating the obvious here, once you analyze and eventually figure out which term plan to go for, the most vital next step it to ascertain the credibility of the chosen insurance company. Apart from that, it is also advisable to have some basic points of references from the other varied companies offering same or similar term plans to have a comparative analysis and enough knowledge to make the right choice.
Buying the best term insurance has become much more convenient than ever and is almost hassle free except the compulsory need to undergo a medical examination in order to assess one’s health condition at the time of taking any term policy.
We do not charge any fee for this service.
