Term Life Insurance
In case something were to happen while traveling, travel insurance would give you financial support. There are a variety of scenarios included, such as medical emergencies, loss of money or passports, flight cancellations, and misplaced or lost luggage.
Apply Now Contact UsWhat is Term Life Insurance ?
There are many types of life insurance, but term insurance is one type that provides coverage for a specified time period. In the event of the unfortunate death of the insured during the policy term, this type of life insurance distributes funds to the nominee. Policies with term life insurance offer high coverage for a lower price. You can pay as little as ₹485* p.m. for a policy that covers *1 crore in terms of premium. During a policy's term, they can either be paid at once or at regular intervals for an entire period or only for a limited period. Payment options for premiums differ according to the type.
Who Should Buy ?
Taxpayers have a double advantage - they gain protection as well as a tax break by paying life insurance premiums deductible under Section 80C**. Term insurance policies also come with an opportunity to derive a tax benefit (maturity value). This exemption is provided under Section 10(10D)^^ of the Income Tax Act, 1961^^. Comparing the different types of policies, term insurance has the lowest premiums.
The following are three significant advantages to purchasing term insurance for individuals who derive any of these advantages. Life insurance offers three major benefits - tax savings, life protection, and affordable premiums.
Parents
Children's futures and opportunities can be endangered by unfortunate events in parents' lives. Term life insurance can help prevent this scenario.
Married Couple
The insured amount plays a significant role in choosing the right insurance policy. Larger insured amounts mean better coverage.
Working Women
Medical insurance policies in India can entail a wide variety of coverage. It is up to you to select the one that best suits your needs.
Professionals
As soon as the initial waiting period is over, your health insurance policy takes effect. A minimal waiting period is available for some plans.
Taxpayers
Several insurance policies contain clauses that require certain percentages of the claim amount to be borne by the you (insured).
Self Employed
It is beneficial to consider adding an option for lifetime renewal when buying a health insurance plan.
SIP Investors
You can also file a cashless claim at any one of the hospitals that is on the insurance company's list of network hospitals.
Retirees
It's also possible to have various sub-limits in a health insurance plan, but the ones that typically apply to room rent are the most prevalent.