If not, read on to know how you can ease future financial uncertainty.

What is common between Superman and a stress-free person? They are both imaginary personalities!

There is hardly any person today, young or old, who does not undergo stress on a daily basis. With stress and daily anxiety come a host of small and large health issues. These range from persistent headaches to even cardiac trouble. Apart from stress, life’s uncertainty is further compounded by unexpected accidents. There is no gainsaying the fact that one is never safe at any moment.

Since life can change in the blink of an eye, there has to be a way to safeguard one’s loved ones against this eventuality. Tragedies can result in death or disability, and both can put a stop to family income. But while one cannot escape the pain of a tragedy, one can certainly withstand the ravages of financial uncertainty. This can be done with the help of a useful insurance product: term insurance plans.

A term plan is an insurance product that yields a high sum assured against low premium payments. It is one of the best insurance plans for the family, owing to its potential to offer a large corpus to the policy holder’s surviving family. The following are some facts to know about term insurance:

* A term policy is the most affordable insurance option in times of high inflation and rising living costs. The policy holder can easily afford the low premium payments.

* The premiums for term insurance plans are low because the entire sum assured is set against the ‘risk’ that the policy covers. A term policy generally offers a ‘death benefit’ to the surviving family members.

* Unlike other insurance policies, a term plan will normally not pay back the premiums if the policy holder survives the policy tenure.

* It is ideal to take term insurance at a young age for two reasons. Firstly, the premiums for younger persons are lower than for older policy holders. Secondly, they offer sufficient coverage while the policy holder is still finding his footing in his career. Other insurance options are unaffordable at this stage of life.

* Since they yield a high corpus, term plans can be used to repay unpaid debts (such as home loans) or children’s education and wedding.

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