This Article is About
term insurance
death benefit
insurance companies
affordability
life insurance
premiums
period of time
investments
insight
insurance
Term Insurance - A Must For Every Responsible Individual
Join 1000's of Authors at StreetArticles Today!

Term Insurance means a contract wherein the insured is covered for a limited period of time for a fixed payment. After the expiry of the term, there is no coverage or guarantee. Beyond that the customer has to renew the policy to get the benefits or give up the coverage. The best thing about term insurance is that it gives you a good coverage on account of death for a very little premium. It is its affordability and better coverage makes it one of the best investments for your family’s future.

A term insurance is purely a death benefit and hence is a little different from life insurance. While life insurance gives your beneficiary the insured amount on the insured’s death or payback a fixed amount to the insured on the completion of the term. A term insurance doesn’t give you back anything on expiry of the insurance term. Payments are released only on the event of the insured’s death. I case the period is survived the person has to renew the contract. However the premiums in case of term insurance are very low and the amount of coverage are high and hence it attracts most people. It is the affordability factor that works much in favor of most term insurance plans.

While it is not an investment for you own self, it ensures that your family is well provided in an even when you are not there to provide for them. Since the amount of premium is very less it doesn’t even hurt the pocket and ensures that a greater amount of back up in ensured for your family.

Most of the good insurance companies have all information available online. Most details are available and gives you a clear insight on what the policy is and what all it promises to deliver. The best way to choose a policy is to go through all the policies available in the market and analyze then all. Since policies differ from company to company and form plan to plan, it is always advisable to draw a comparison between all.

Mostly the insurance and the premium depend on the clients’ age, health, lifestyle, living condition, working condition and other factors that can impact the age of the client. It can also differ with the company’s policies, the amount of premium you choose to pay or the amount of coverage you wish to take. An ideal plan is however the one that gives you the largest coverage with the least amount as premium.

To ensure that you get the best deal, get all the details from the company before you go ahead with them. Figure can vary in the underwriting process and hence it is best to know then beforehand. Taking the help of genuine brokers is also a good idea. They can help you with the exact figures and give you a better insight on what to expect. Also check out the financial condition of the company providing the insurance plan. They should ideally have a good claim payment history too.

I recommend doing a thorough research to find a suitable term insurance plan from the best insurance companies in India.


Street Talk

No comments present
You May Also Like
The Home Work You Need to Do Before Getting A Term Insurance
Securing your family against all odds of life is definitely your priority. That’s why many keep seeking for the perfect investment plan. Since there are several in the market, getting confused is obvious. Life insurance plans are a popular choice when it comes to securing the family. This is because…
By: Manish Mathur in  Insurance  >  Long Term Care   May 30, 2012  
0
  Likes: 0

Affordable Insurance For The Entire Family
Nobody really gets excited about insurance. Except for those who sell it and I think it would be safe to say in some instances that even some insurance agents aren't real thrilled either when they issue a policy. Unfortunately, because insurance is a necessary evil, all of us must address…
By: Scott Oberholser in  Insurance  >  Life Annuities   Aug 15, 2011  
0
  Likes: 0

Travel Competitions: Are They Legit?
Everyone loves a good travel competition, and your chances of winning an amazing trip or cash prize can be pretty good, especially if the contest requires a little work on your part to enter. If you’ve ever been curious about what happens behind the scenes of a holiday competition, you…
By: Frederick Holm in  Insurance   Jun 01, 2016  
0
  Likes: 0

Behind the Scenes Of Facebook Travel Competitions
If you’ve ever entered an online contest, you may have wondered why companies are willing to offer fabulous trips and other big prizes in exchange for simple Likes or Shares. What could possibly be in it for them? As part of their marketing strategy, it is not unusual for brands…
By: Frederick Holm in  Insurance   Jun 01, 2016  
0
  Likes: 0

Is Mobile Phone Insurance Essential?
If you’re looking for a good mobile phone or have just signed up for it or even upgraded your handset, there are chances that someone has tried to sell you mobile phone insurance. But the important question is do you require it? You perhaps need to consider buying mobile phone…
By: Shubrajit Dash in  Insurance   May 31, 2016  
0
  Likes: 0

Sussex Insurance And Its Concerns
The Sussex Insurance Company top concern is customer service. An organization acknowledges when you buy their policies and you put your trust in them. With fitness and caring a company makes an effort to match that trust. A Company’s staff is train to help you with your inquiries and concerns…
By: anamzara in  Insurance  >  Commercial   May 28, 2016  
0
  Likes: 0

Celina Insurance Focus
The Celina Insurance Group focuses on serving autonomous operators and policyholders; an organization work to make simple-to- use innovation, to develop partnerships and give genuine feelings of intelligence to the general population. Throughout the years, a group has grown by offering better administration than its specialists and policyholders.The different products…
By: anamzara in  Insurance  >  Travel   May 28, 2016  
0
  Likes: 0

We Insure
Water Damage You may not realize it, but water damage is the most common reason people make claims on their home insurance policy. This is a common loss, especially for older homes at risk for bursting pipes and leaky appliances. While most carriers provide coverage, some carriers exclude or limit…
By: Randy Marzullo in  Insurance   May 20, 2016  
0
  Likes: 0

Should I Get My Child Life Insurance?
Now we all know the concept of life insurance and its application to our adulthood, but what about life insurance for children? Many will reject these ideas, calling it morbid but if we consider it once, it is not entirely a morbid question. In fact, it may be a great…
By: Mikhail Juntilla in  Insurance   May 19, 2016  
0
  Likes: 0

Amigo Insurance And Its Services
Amigo Insurance Company offers the sort of quality administration you ought to anticipate from your neighborhood organization of Insurance. Pause for a minute to peruse more about a company office and their rationality of extraordinary client service. As an autonomous insurance organization, a company represents considerable authority in giving people…
By: anamzara in  Insurance  >  Commercial   May 09, 2016  
0
  Likes: 0

Hix Insurance And their Benefits
If you have not heard about the Hix insurance, for their insurance of health many people purchases this exchange. Through their managers, the vast majority get Hix insurance. In any case, individuals without this choice know how to now search for insurance of health on trades.They also have an alternative…
By: anamzara in  Insurance  >  Health   May 05, 2016  
0
  Likes: 0

Stay Up to Date on the Road With Fta’s E - learning Courses
One of the things that haulage companies must do if they want to maintain a competitive edge is ensure that their employees are all fully trained and aware of the changing rules and regulations as well as any new developments in the logistics industry. When training involves office staff, technicians,…
By: Frederick Holm in  Insurance   May 05, 2016  
0
  Likes: 0

When Short - term Health Insurance is A Smart Solution
Since the health law took effect, short-term health insurance plans have become very popular, especially among young adults, people who have a gap in employer insurance or those who have missed open enrollment under the Affordable Care Act. There are a few major reasons why this plans are appealing: -…
By: Nash Bauder in  Insurance  >  Health   May 04, 2016  
0
  Likes: 0

State Life Insurance And Its Policy Plans
The working of state life insurance company is with the point of view to encourage different customers. A company main objective is to provide benefits to their customers and shield them as of several of unforeseen harm by recommending the appropriate policy plan at reasonable price. A company is offering…
By: anamzara in  Insurance  >  Car Auto   May 02, 2016  
0
  Likes: 0

Surf Around the World: RTW Itinerary Inspiration
Have you heard of the “year of the endless summer”? It’s continual travel to warm and sunny destinations, following the summer season as it blossoms in various places at different times around the world. It’s a year without winter! If you are looking for a round-the-world travel itinerary that will…
By: Frederick Holm in  Insurance   Apr 26, 2016  
0
  Likes: 0

Article Views: 1458    Report this Article