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What is Term Insurance Tips and Trick | Features & Benefits of Term Insurance

What is Term Insurance Tips and Trick | Features & Benefits of Term Insurance

Welcome to your investment academy a lot of people asked us to make a video on term insurance and yoga term insurance as the name suggests is a life insurance policy is taken for a certain period or term in case of unfortunate death of the policyholder the sum assured is paid to the beneficiary nothing is paid out to the policyholder if he or she survives the policy.

The term which makes term insurance a pure life insurance policy which can give you a very high cover for very low premiums as compared to traditional life insurance policies let us go through the benefit the first one we've already discussed it is the cheapest form of life.

Insurance offering a high cover for a low premium since it is a pure life insurance plan it does not make insurance with investment like other life insurance policies it enables you to buy an adequate amount of cover due to its affordability and help saves you from being underinsured before you actually buy a plan you should know what is the amount of cover you would need what you are ready on how to calculate right life insurance cover to know the same the next benefit of term insurance is due to its low premium as compared to other insurance policies it frees up money for other better investment avenues as your other.

Investments grow and you cover most of your goals with them your insurance needs come down with a cheap cover through term insurance in effect for a sizable duration you get a window to build your wealth you can add a rider like critical illness disability premium waiver etc to make your term insurance comprehensive certain life insurance companies allow you to enhance your cover at various life stages like marriage being a parent exception enabling you to start with a low cover and you can increase it as required premiums paid towards term insurance can be claimed for tax deduction under the section 8 PC for a given year let us look at an example which will show how term insurance can offer a very high cover for a very low.

Premium a cover of one CROs can be bought online for a premium range of seven to twelve thousand rupees each here for the next 35 years for a male aged 30 years who is a nonsmoker online plans have lower premiums as they eliminate the middleman some other important points to know there is no upper limit on the amount of cover you can buy but an amount you're eligible for would depend upon your income the earlier you buy a term plan the better it is because when you are young you are healthier and you can buy a term plan at a lower premium and if you delay buying a term plan with age you might contract lifestyle.

Diseases diabetes etc which just pushes up your premium as these are considered pre-existing ailments friends with this video we've seen what is term insurance if you've seen its benefits and some other points to know about term insurance.

Tags: Insurance, Term, Cover, Life, Premium, Other, Low, Plan, Buy, Very, lifestyle, Policy, Term Insurance

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