Unicoins Helping You Choose The Best Term Insurance In India
What is term life insurance? Term insurance can be described as a type of insurance policy that is availed for a specific time period. It is often less expensive than other types of insurance policies available in the market today. The term insurance premium is paid only during the fixed time period. Similarly, the policy is enforced only if the policyholder dies when the term insurance policy is in force. There are plenty of term insurance plans to choose from these days that can be confusing. But worry not; Unicoins can help you find the best term life insurance based on your requirements.
All About Term Insurance Benefits
Term insurance policies are designed to protect the policyholder from death and other risks. If you are still wondering why term insurance is best, take a look at some of the benefits it offers:
- Safety for loans & liabilities
- Covers critical illness
- The higher sum assured at affordable premiums
- Tax benefits
- Add-on protection
- Death benefits
- Support in case of disability
- Maturity benefits
You can compare term insurance benefits and choose one that also offers survival benefits. Another added advantage is that term insurance is limited pay, making it a more affordable policy compared to other insurance policies.
Term insurance in India is one of the most traditional forms of insurance. Term insurance policies are more cost-effective in the long run. The premiums tend to increase in small amounts over the years. This is to include the reduction of the value of money over the years. If you are looking for a coverage plan for a specific time period, stop wondering if term insurance is worth it and get one today. Once you buy a term policy, you have to pay the premium within the stipulated time. If the policyholder dies within the covered time period, the beneficiary will receive the sum assured. Term insurance is important if you are looking for a pure protection plan.
The term insurance advantages include low premiums, whereas an endowment plan includes savings options as well. The main difference between endowment insurance and term insurance is that the former is a combination of insurance and investment while the latter is solely a risk coverage plan. Depending on whether you are opting for long-term insurance or not, you can choose between term insurance and endowment insurance and we can help you with it.
You have the option of choosing term policy coverage with riders such as Critical Illness riders. In case the policyholder is diagnosed with any of the critical illnesses covered by the policy, the rider sum insured will be paid by the insurance provider in one lump sum. Term policies offer the best term life insurance rates for seniors as well. If you are choosing an insurance policy for your family, the term insurance for family is affordable and also offers additional riders like critical illness.
Picking A Term Insurance With Return
If you want to know what term insurance with a return of premium is, here it is for you. These plans are slightly different from term insurance plans as they also offer a maturity benefit. If the policyholder dies within the policy period, the beneficiary receives a lump sum. However, if the policyholder survives through the policy period, the premiums paid are refunded back. This type of term insurance policy is suitable for people looking for financial security and benefit on policy maturity.
With term insurance up to 99 years, there is no dearth of options. However, you need to know to choose the one that suits your goals, ability and the comfort bubble you want your family to live in. Call Unicoins today to find out which term insurance policy meets your requirements.