5 Reasons why you should buy a term insurance plan NOW?

Posted by: at 10/17/2016 10:55:00 pm

Term Insurance



It is important that you understand your needs and plan your future accordingly. In this world of internet, the way policies are sold have changed for the better and in a more innovative way.
Term insurance is defined as the most useful and basic form of life insurance. The best part is that through this type of insurance you can get a large cover only by paying a very low premium. This ensures that the nominee to the policy acquired by the policyholder can enjoy the same living standards even after the death of the policyholder. Did you know that a term insurance is highly valuable? Without a delay, you should buy the policy NOW.

5 Reasons why buying this policy now is a must


1.    Affordable- A term insurance is highly affordable now, compared to what it was in the past. Five years back, you would have hesitated to buy the policy because to get a cover of a crore, you would have to pay between Rs. 50,000 and Rs. 55,000 annually, which was very costly. However, now you can buy the same policy by paying a premium between Rs.9999 and Rs, 11,999 annually. That would indicate that you will have to collect Rs. 900 and Rs 1000 per month. Even, individuals leading a healthy lifestyle can also acquire a policy with very low premium rate.

2.    Act quickly, buy the policy now- You do not know what future holds. You may have plan of buying a term policy sometime, but you are delaying the matter for some personal reasons.  This is unacceptable and even risky because you may not live tomorrow to buy the policy. So, why not buy it now? Remember we are not living a very safe life; therefore, it is important that you secure your present so that you have a secured future.

3.    Premiums enhance with age- As you age, premiums tend to increase. This means the more you are late in buying the policy, the more you will have to pay towards premium if you buy the policy at an older age. Always make sure that you review your term insurance requirements once in every five years.

4.    Buy the policy and feel secured about your future-
When you know that your life is covered by a term insurance, you can feel gratified and relieved. You feel secured about your future as you know that policy will fetch you money when it matures. If your main source of income is lost, then your liabilities, homes, loans and other financial dues come under threat. Remember, a term insurance can absolutely take care of it. Therefore, you should buy a term insurance right now.

5.    Policy term- A policy should ideally run for the entire duration of your working lifespan. To make sure that you can meet the financial needs of your family, hurry and buy the insurance policy now so that the benefits can be yielded for the rest of your lives.

You should know that a term insurance is one of the cheapest forms of life insurances. This offers financial coverage for a certain period of time. Therefore, if any unforeseen situation arises, the policyholder’s family is highly taken care of and also their life’s stability is insured. Again, term insurance helps you to be far-sighted. Learn about the different types of term insurance policies available in the market. You have to be aware of the different policies and how they can help you and then buy the one that is most suitable.

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