Term Insurance Plan: In today’s uncertain life, getting life insurance is one of the most important tasks for any person and it should not be avoided. As soon as you start earning, you should think about taking a term plan. The practice of taking term insurance is not as common as taking life insurance in India as it does not provide any cash benefit to the policyholder while he is alive.
If you haven’t taken term insurance yet, then do it right away and don’t wait for the fact that you will get married and have children and then take term insurance. If you have a question as to why, you can find out the answer here.
Take term insurance for the financial security of the family
If you are not married, but it will be decided that when your parents (who are employed) will retire, then they will have a big financial support attached to you. Therefore, as soon as you get a job, definitely take a term plan for the financial security of important members of your family like parents or younger siblings.
Term insurance is also necessary if you have taken education loan-home loan, car loan etc.
If you have taken a home loan for studies or have taken a car loan-home loan etc. after getting a job, then you should definitely take a term plan. In case of any untoward situation or any untoward incident with you, the responsibility of repaying all the loans will fall on the family, so to save from this situation, you must take a term plan.
In term insurance, you have to pay a fixed amount as a fixed premium but in this money is not deposited like life insurance. Term insurance person
The family gets the policy money or amount only in case of any untoward incident. In term insurance, the policyholder does not get any benefit while he is alive. For this reason its popularity is less but it is very important to know how important term insurance is for people.
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