Have you ever heard about term plans

Have you ever heard about term plans and insurance. Online term plans offer you a high cover at minimal cost. There are three situations we are keeping in front of you.

Your family is financially dependent on your income

You may have financial liabilities like home loans or other loans

You may not have other assets to take care of your family’s financial needs 

In all these case, all we need a good solution is buying a life insurance plan with high risk component. We are explaining you with an example.

 If your annual income is Rs.5 lakhs and you are aged 35, you may go for a cover of Rs.50 lakhs. If you already have Rs.5 lakhs insurance cover and Rs.5 lakhs bank deposits, you may subtract these amounts and go for at least Rs.40 lakhs sum insured.

In this case, you may go for a pure term plan as it will provide you high risk protection at a very nominal cost throughout the term plans.

With no maturity benefits, insurance companies have been able to offer a high level of protection at an economical price. To keep up with the evolving market dynamics, off late companies have started selling term policies online….

Online term plans are evoking great interest among consumers and insurers. For consumers, these online plans are quick, easy to buy and come at a lower premium than what they would have paid if purchased through an agent. For insurers, the online medium provides direct access to customers, cuts-away the distribution costs in agent commission etc., and allows them to seal the deal in a few minutes.