6 Term insurance policies: To keep your family safe in the future

Your family’s future happiness is assured even in your absence with a good term plan to see them through.

When life goes well, everything seems possible. No obstacle is too difficult to surmount, no challenge seems too big. But that is only when life goes well. When it doesn’t, the slightest difficulty assumes mammoth proportions. Every problem seems twice as large as it actually is.

So wise people believe in saving up for a rainy day – or in most cases, for a time that heralds a lot of misfortune. No, this is not about foreseeing the future, but it is about taking precautions while you still have the time. There is no way of knowing what the future will bring, but it doesn’t hurt to be prepared, does it?

What measures have you taken for your family’s future? Savings, investment, buying property? While these are good solutions, there is another solution that you may have missed out on – it’s called life insurance. Life insurance is the one instrument that will protect your family even in your absence.

Taking term insurance – the best possible solution

Wouldn’t you like to ensure that your family is always well protected, that all their dreams come true even if you are not around to witness it? Only insurance can give you the peace of mind from knowing that your loved ones will never face the vagaries of fate in your absence.

If you are amenable to the idea of taking insurance, we recommend a useful insurance product known as ‘term insurance’. A term plan is essentially a pure life insurance policy that has no maturity benefits but significant death benefits. This means that the policy holder does not receive any bonuses or any of the premiums paid in case they outlive the plan tenure. However, the death benefit or the sum assured of term plans are amongst the highest among all insurance products in India. This is a significant benefit, especially for single income families with growing children. All of their future dreams can easily be financed with the money accrued from the term plan.

A significant factor to consider is that the premium payable on the term plan is quite affordable, thus you can easily take term insurance if you are not open to paying expensive premiums. Thus, you get adequate life coverage and your family is well protected in case of your unfortunate demise.

Taking term insurance is thus, a simple step towards casting a protective safety net around your loved ones – so they do not need to endure financial trauma in your absence.