TAX BENEFITS OF TERM INSURANCE
A wonderful process of insurance dealing with the life term coverage is the Term Insurance.
Requirement For Term Insurance: Term Insurance full life coverage to the people in India. If the policyholder dies, then death benefit will be paid to the relative/nominee mentioned in the form.
There is no savings, or the profit related issues, coming into the picture. You, as a policyholder in India can select a large life coverage at a reasonable premium compared to the endowment plans and other insurance plans available in India.
Moneymindz is giving advice relating to Term Insurance for the customers in India. We are having brilliant term of financial planners.
Major Benefits of Term Insurance In India:
Some of the benefits of the term insurance in India are given below as follows:
Policies Are Less Expensive: The term insurance is said to be less expensive compared to other form of insurance. It offers the protection for a particular period of time. Hence the people taking up the Term Insurance will always be high in India.
Highest Level of Flexibility: Term insurance is said to be very flexible compared to other forms of insurance in India. A term insurance policy comes in types like the 10, 15, 20 and the 30 years span.
For example: Mr. Raman has an 8 year old son and would like to cover his son’s education and mortgage related issues. Hence, he went for 30 years term insurance policy to secure his life.
Perfect For Middle Class Families: Term Insurance is the one covering the middle class families in India. It is very cheaper than the actual life insurance and other form of insurance in India. People belonging to the middle class will have financial problems, and various goals to be achieved. Furthermore, term insurance plays a critical role in offering peace of mind to the policyholder and family.
Very Simple, Easy To Comprehend: Term Insurance is the major aspect of insurance, playing a chief role in reaching out to people in India. One needs to know about certain factors like the company offering insurance, term of insurance and coverage amount.
Additional Features: The additional features available with the term insurance are
èCritical Illness Coverage
èLoss of Employment
èWaiver of Premium
Large Life Coverage: Most of the term insurance plans are more reasonably priced, encouraging one to go for higher life coverage.
Term Insurance is fast gaining momentum in India and people are gathering in huge numbers to be part of this plan.
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