Do
you have a term insurance policy? Any talk about insurance and you
will be asked this question.
So,
do you?
If
you have a family or dependents, term insurance is a must. No other
policy will offer you as much value for money as this one
What
is the big deal?
In
its simplest form, term insurance is the purest form of life
insurance. Should the insured person pass away, the family is
protected by a certain amount. . But if the insured survives till the insured
term, he will not get back anything,
For
instance, a 30-year-old person can get a Rs 25 lakh cover for an
annual premium of Rs 7,300 for 25 years, a coverage that will cost
him about Rs 97,050 and Rs 131,850 in endowment and money-back
policies, respectively
The
term insurance advantage
Term
insurance is especially beneficial for young people with dependents.
Income
and assets are generally not high in the early stages of one's
career or marriage, but there may be dependents to care for. As the
premium is low, it is easier to keep the policy running even during
career breaks.
How
much it costs ?
Age
|
Coverage
|
Term
|
Premium
|
30
|
25
Lac
|
25
Years
|
7,300
|
35
|
25
Lac
|
25
Years
|
9,925
|
40
|
25
Lac
|
25
Years
|
14,250
|
|