Term insurance plan is ideal if one wants to save money. It is an idea for those who want to get embraced in a secure life coverage saving the dependents during the worst times.
Let’s know more about the various beneficial aspects of this very useful policy in this article.
Term insurance- taking care of the essential financial responsibilities
Term insurance policies offer full insurance coverage for essential requirements like child’s marriage and education fees. They have a fixed tenure. The insured needs to pay fixed rate of premiums.
Prime goal- The prime goal of a term insurance policy is to grant life coverage. It aims to reduce greatly the major financial responsibilities of the policyholder.
- Term insurance plan is easily affordable.
- The process to buy one is hassle-free especially when buying it online.
- It gives instant protection. Most insures offer flexible payment options.
- It demands a lowest premium rate which is the primary reason for its popularity.
- You can easily buy suitable term Insurance policy online. In this way you’re freed from the troubles seen in its offline counterparts.
Term insurance plans in India | Benefits
Online term insurance | Right approach
Online term insurance is easily discernible even for the novices. Prior to buying term insurance, calculate the sum assured amount you need and premium amount you can pay.
The easiest way is to visit the insurer’s website. They mostly provide free online premium calculators for assistance. You just need to choose a suitable policy. And then fill up details like age, preferred sum assured amount and tenure. After completion, you’ll get probable premium quotes.
After paying the 1st premium, you’ll get an email or confirmation call. The insurer can also send a KYC or know your customer form. It shows the authenticity of your personal information, residential address, etc.
Depending on your age, you may need to undergo a medical test. Keep in mind that results of your medical test affect the premium rates of your term plan. If some unknown medical complications evolve in the medical test then you can either pay the additional premiums or revoke the policy. Always provide correct personal information and medical history while buying any online insurance policy.