Dbn Centre - Your good source of information
  • Business
  • Education
  • Finance
  • Health
  • Home
  • Shopping
  • Tech
  • More
    • Sports
    • Auto
    • Law
    • Real Estate
    • Travel
No Result
View All Result
  • Business
  • Education
  • Finance
  • Health
  • Home
  • Shopping
  • Tech
  • More
    • Sports
    • Auto
    • Law
    • Real Estate
    • Travel
No Result
View All Result
Dbn Centre
No Result
View All Result

Is Term Insurance Plan for You?

Chaya Ben by Chaya Ben
July 3, 2020
in Finance
0
Is Term Insurance Plan for You?

Term insurance plans, in simple words, are affordable insurance plans that provide all-round protection and financial stability to your family in your absence due to any unforeseen event. A term insurance plan comes with basic coverage for a certain period of time. If the insured dies while the policy is active, his/her nominee can receive the death benefits offered under the selected term insurance plan.

A term insurance plan is best known to provide you with the benefits of large life insurance cover at an affordable price. Yes, among all the other life insurance plans, a term plan is a policy that provides you coverage at the lowest premiums. Also, to get additional benefits, you can attach riders such as accidental death benefit, waiver of premium, critical illness cover, etc. to your term insurance plan and get wider protection for your loved ones.

If you are the breadwinner of your family, a term insurance policy can ensure your family’s financial security in case of your untimely demise. While buying a term insurance plan, remember that the cover you get should be equal to 10 to 20 times your annual income. There are various types of term plans like a pure term plan, return of premium plan, and term insurance plan with income benefit. You can choose the one that suits your requirements best.

Here are a few reasons why term insurance is for you.

  1. Competitive pricing – Term insurance plans are easily comparable on the basis of price. Term insurance policies are similar in terms of structure and operation, allowing you to compare different policies easily.
  2. Easy to understand – There are many policies offered in the market like endowment policy, etc., but it is hard to understand them. There are several aspects that are part of insurance policy like calculation of risk, death benefit, and repayments of policy. When you compare a term plan to these complex policies, you will realize understanding term insurance is very easy as it only asks you to select the term for which you need to be covered. That’s it.
  3. Easy Renewal– One of the biggest advantages of choosing a term insurance plan is that it allows you to renew and continue your insurance cover. This saves you from the tedious process of undergoing and submitting various medical tests on completion of your policy.
  4. Convertible – Term insurance plans come with a feature of convertibility. This feature allows you to convert term insurance into another policy like an endowment policy based on changing conditions. Conversion of a term insurance plan includes a few restrictions like time duration, cost of conversion, amount to be converted, etc.
  5. Affordable coverage – Term insurance is known for its affordability. A term insurance policy comes at a considerably lower rate of premiums as compared to other policies. Policyholders can decide the amount of monthly premium of the term plan. This can be decided based on the policyholder’s budget and income.

 

 

 

Previous Post

5 Real Reasons Why You Should Choose A Career In Nursing!

Next Post

An Introduction to Metal Casting

Chaya Ben

Chaya Ben

Next Post
An Introduction to Metal Casting

An Introduction to Metal Casting

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Common Concrete Problems and Solutions: Repairing Your Surfaces

Common Concrete Problems and Solutions: Repairing Your Surfaces

September 25, 2023
Neora’s Powerhouse Ingredients for Fighting Cellulite

Neora’s Powerhouse Ingredients for Fighting Cellulite

September 22, 2023
How to Choose the Right Hydraulic System for Your Needs

How to Choose the Right Hydraulic System for Your Needs

September 21, 2023
Why Choosing the Right Stock Trading App for You is Important?

Why Choosing the Right Stock Trading App for You is Important?

August 23, 2023

Recommended

Common Concrete Problems and Solutions: Repairing Your Surfaces

Common Concrete Problems and Solutions: Repairing Your Surfaces

September 25, 2023
Neora’s Powerhouse Ingredients for Fighting Cellulite

Neora’s Powerhouse Ingredients for Fighting Cellulite

September 22, 2023
How to Choose the Right Hydraulic System for Your Needs

How to Choose the Right Hydraulic System for Your Needs

September 21, 2023
Why Choosing the Right Stock Trading App for You is Important?

Why Choosing the Right Stock Trading App for You is Important?

August 23, 2023

Recent Posts

  • Common Concrete Problems and Solutions: Repairing Your Surfaces September 25, 2023
  • Neora’s Powerhouse Ingredients for Fighting Cellulite September 22, 2023
  • How to Choose the Right Hydraulic System for Your Needs September 21, 2023
  • Why Choosing the Right Stock Trading App for You is Important? August 23, 2023
  • Becoming a Better Leader & CEO With Kevin Modany of Bluerock Partners August 2, 2023

Archives

  • September 2023
  • August 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • March 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Auto
  • Business
  • Casinos
  • Education
  • Event
  • Finance
  • Health
  • Home
  • Law
  • News
  • Poker
  • Real Estate
  • Shopping
  • Sports
  • Tech
  • Travel
  • Wine
September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    

Recent Posts

  • Common Concrete Problems and Solutions: Repairing Your Surfaces September 25, 2023
  • Neora’s Powerhouse Ingredients for Fighting Cellulite September 22, 2023
  • How to Choose the Right Hydraulic System for Your Needs September 21, 2023
  • Why Choosing the Right Stock Trading App for You is Important? August 23, 2023
  • Becoming a Better Leader & CEO With Kevin Modany of Bluerock Partners August 2, 2023
  • The Importance of Proper TV Mounting and Secure Installation June 19, 2023
  • Spectrum Select enables you to watch videos of high quality. May 3, 2023
  • Ten Career-Worthy Jobs in Payroll April 4, 2023
Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Get Support

© 2019 Dbn Centre - Premium WordPress news & magazine theme by Dbn Centre.

No Result
View All Result
  • Dbn Centre
  • Get Support
  • Home 2
  • Home 3
  • Home 4
  • Home 5

© 2019 Dbn Centre - Premium WordPress news & magazine theme by Dbn Centre.