Living in a progressive world provides us with various investment opportunities allowing us to build our wealth and secure our family’s future. As your family grows, their financial needs grow simultaneously. Nevertheless, an investment plan will help you bridge these financial gaps and provide the necessary support to your loved ones.
But with smart investment choice, one also needs to take into consideration that life is full of uncertainties. Unfortunate incidents can happen anytime, anywhere. In case you happen to lose your life in an unforeseen event, it will force your loved ones into a financial turmoil. And you certainly do not want that to happen.
In such situations, a sound life insurance plan comes in handy. But with a plethora of insurance options available in India, choosing the right one can be a daunting task. Well, what if we tell you that there is an insurance plan that is affordable and easy to invest in.
A term insurance plan is one of the most basic life insurance policies available in the market. It provides financial protection to your family in case of your sudden death. This is provided in the form of death benefits to the beneficiaries of the policy. So, if you are a sole earner in the family, it is better to buy term insurance and secure the financial future of your loved ones.
Why does the head of the family need term insurance?
Term insurance is solely a protection plan that provides financial coverage to you (the policyholder) for a specified period. In case of your sudden death during the policy tenure, the policy grants death benefits to the beneficiaries.
Usually, the term insurance plans offer several payout options in case of your death –
- Full amount as the lump sum
- Partly as the lump sum and partly as monthly payouts for a predetermined period
- Full amount as monthly payouts for a predetermined period
Along with this, you also can choose to pay premiums online on a monthly, quarterly, half-yearly, or annual basis. So, if your family’s well-being depends solely on your earnings, then a term insurance for family can secure their future financial needs and aspirations in your absence.
Types of term insurance plans you can choose from
The following types of term insurance plans can help you take care of your family’s future and well-being:
|Term Insurance Plans for Family||Benefits of the Plan|
|Level Term Insurance||
|Returns of Premium Plans||
|Decreasing Term Plans||
|Term Plans with Riders||
Over To You!
We understand that picturing your loved ones suffering in your absence can be scary. But with term insurance available on Finserv MARKETS, be rest assured as your family will be financially protected and continue to live a secure life in your absence.
“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”