Here’s How Life Insurance Can Be Your Best Friend

Everybody has a best friend on whom you rely during tough times. It doesn’t happen every time that your best friend helps financially, and you must take care of it beforehand. Life may be a bed of roses sometimes, but it also has a series of unfortunate events where you can be challenged financially. For such scenarios, life insurance can become your fiscal friend in need.

Here’s How Life Insurance Can Be Your Best Friend
Image Courtesy: Shutterstock

At each phase of life, you must be financially prepared to ensure you enjoy and cherish every special moment in life without worrying. So, ensure you are prepared for all the requirements of life stages and that your family is well protected against unfortunate events. Life insurance plays an integral part in serving as financial security. You can build a corpus for your life’s milestones over time, depending upon the chosen policy. If you buy life insurance online, you can also avail of various tax-investment benefits according to the IT Act 1961.

Here are some features to consider when you buy life insurance online:

1. Death benefits

Death in a family is the most tragic event. It becomes a worst-case scenario when the only bread earner of the family is lost untimely. Your family may suffer financially for the most extended period until they find other income sources. If you buy life insurance online, you can save them from the pain that occurred due to your unfortunate demise as they will get financial help in the form of a lumpsum amount. A Death benefit is typically covered under the term insurance plan where your family or nominee receives the sum assured after your demise.

2. Critical illness cover

When you buy life insurance online, one of the features the policy offers are to add riders for covering significant diseases. Some of the critical illnesses covered are cancer, kidney failure, strokes, and paralysis. The critical illness cover can be added to term insurance, where you can also get tax-investment benefits under the IT Act 1961.

Here’s How Life Insurance Can Be Your Best Friend
Image Courtesy: Shutterstock

3. Dedicated officer support

Many reputed insurance companies offer dedicated officer support to its customers for easy process navigation and resolving problems. The facility is provided when you buy life insurance online.
Quick claim settlement

Reputable companies like Max Life Insurance offer quick claim settlement, especially for its term insurance customers, where the claim settlement ratio is 98.74%. If you choose to buy life insurance online from such companies, you are sure to receive the best services and benefits under one roof. It will also help you give peace of mind as your family will go through a hassle-free process with dedicated support.

4. Monthly payout option

There is also an ease of payout options available if you buy a life insurance plan online. Your beneficiary can get the sum assured in different variants of monthly income. The payout which your family or nominee receives is tax-free.

Purchasing term insurance or any other life insurance comes with several tax-investment benefits. It is advisable to buy life insurance online only from reputable insurers like Max Life Insurance that offers one of the best claim-settlement ratios. It also provides an online term insurance calculator where you can get an idea of the lump sum to make better decisions. Max Life Insurance offers various benefits under a variety of insurance plans, where you can also enhance the gains by adding riders for critical illnesses, accidental death benefits, and similar others. Smart Term Plan offered by Max Life Insurance is a customizable plan that provides comprehensive insurance coverage against critical illnesses, disability, and death. It also gives you the option of getting back all the premium you have paid over the years, if you survive the term, under its TROP plan.

You must conduct thorough research before you buy life insurance online and collect details of the plan benefits. Purchasing policies also come with tax-investment benefits under the IT Act 1961. 

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