Term Life Insurance is a fixed premium product purchased for a specific period of time. As long as premium payments are made the payout for a death is a fixed sum. Many companies offer additional benefits and cash value at end.
Get QuoteTerm Insurance will give you peace of mind by providing financial coverage to your family. With affordable premiums and easy-to-understand clauses, here are a few benefits of term insurance over permanent insurance.
The coverage is flexible
Inexpensive compared to whole life policies
You can get enhanced coverages and add riders
Primarily there are two kinds of insurance in the market - Term and Permanent. Term insurance gives you coverage for a limited period, whereas Permanent insurance with whole life coverage.
Insurance assures you of the flow of income to your family in case of your death. The insured amount should be the amount with which your family can sustain itself comfortably.
Once you are sure about the period of coverage and insured amount, you can get quotes from insurance firms licensed in your area.
Be aware of any hidden costs & conditions. You shouldn’t hesitate to ask questions to have a idea of the cost and the coverage you are getting.
Medical examinations may be required.
The next step is to check the premium amount. Getting started takes only 2 minutes
Fixed terms and lowered premiums, term life insurance is easy to understand
Term life insurance, with low rates and the savings component, is a more economical option for many individuals.
Term insurance will let you choose coverage that fits your needs. Term lengths are available brom 10 to 40 years
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