Dbn Centre
  • 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
Home Finance

Is Term Insurance Plan for You?

Chaya Ben by Chaya Ben
July 28, 2020
in Finance
0 0
0
Is Term Insurance Plan for You?
0
SHARES
58
VIEWS
Share on FacebookShare on Twitter

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

  • Trending
  • Comments
  • Latest
Home Decoration Strategies for Decorators around the Budget

Home Decoration Strategies for Decorators around the Budget

December 3, 2019
5 Real Reasons Why You Should Choose A Career In Nursing!

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

June 30, 2020
Everything You Need To Know About Health Insurance

Everything You Need To Know About Health Insurance

April 27, 2020
6 Ways Hospitals Can Save Money

6 Ways Hospitals Can Save Money

May 28, 2020
Management of chronic obstructive pulmonary disease

Management of chronic obstructive pulmonary disease

0
Getting The Best From Funding Auto Parts Promotional Code

Getting The Best From Funding Auto Parts Promotional Code

0
Durable Ford Auto Parts

Durable Ford Auto Parts

0
Buying Used Auto Parts From the Junkyard

Buying Used Auto Parts From the Junkyard

0
Management of chronic obstructive pulmonary disease

Management of chronic obstructive pulmonary disease

January 20, 2021
Why You Should Visit A Cosmetic Dentist

Why You Should Visit A Cosmetic Dentist

January 20, 2021
Coping with Atrial Fibrillation

Coping with Atrial Fibrillation

January 20, 2021
Why Skin Deep Laser MD is the best skincare provider

Why Skin Deep Laser MD is the best skincare provider

January 20, 2021

Recommended

Management of chronic obstructive pulmonary disease

Management of chronic obstructive pulmonary disease

January 20, 2021
Why You Should Visit A Cosmetic Dentist

Why You Should Visit A Cosmetic Dentist

January 20, 2021
Coping with Atrial Fibrillation

Coping with Atrial Fibrillation

January 20, 2021
Why Skin Deep Laser MD is the best skincare provider

Why Skin Deep Laser MD is the best skincare provider

January 20, 2021

Recent Posts

  • Management of chronic obstructive pulmonary disease January 20, 2021
  • Why You Should Visit A Cosmetic Dentist January 20, 2021
  • Coping with Atrial Fibrillation January 20, 2021
  • Why Skin Deep Laser MD is the best skincare provider January 20, 2021
  • Prime Benefits of a Demat Account January 14, 2021

Archives

  • 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
  • Education
  • Finance
  • Health
  • Home
  • Law
  • News
  • Real Estate
  • Shopping
  • Sports
  • Tech
  • Travel
January 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Dec    

Recent Posts

  • Management of chronic obstructive pulmonary disease January 20, 2021
  • Why You Should Visit A Cosmetic Dentist January 20, 2021
  • Coping with Atrial Fibrillation January 20, 2021
  • Why Skin Deep Laser MD is the best skincare provider January 20, 2021
  • Prime Benefits of a Demat Account January 14, 2021
  • How to Revitalize Your Vaginal Muscles and Boost Your Sexual Life After Menopause January 7, 2021
  • Why Facial Plastic Surgery is Good for You January 7, 2021
  • CBG Oil: How Does it Make you Feel December 22, 2020
  • Home Decoration Strategies for Decorators around the Budget

    Home Decoration Strategies for Decorators around the Budget

    0 shares
    Share 0 Tweet 0
  • 5 Real Reasons Why You Should Choose A Career In Nursing!

    0 shares
    Share 0 Tweet 0
  • Everything You Need To Know About Health Insurance

    0 shares
    Share 0 Tweet 0
  • 6 Ways Hospitals Can Save Money

    0 shares
    Share 0 Tweet 0
  • How To Buy Health Insurance For My Parents?

    0 shares
    Share 0 Tweet 0
  • Get Support

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

No Result
View All Result
  • Contact
  • Get Support
  • Home 1
  • Home 2
  • Home 3
  • Home 4
  • Home 5

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

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In