You cannot exercise much control over the course of your future. But you can certainly safeguard your family’s interests with term insurance.
Is there ever anything in your life that you are in complete control of? The old adage, ‘Man proposes but
God disposes’ is very true about each person’s life. You may plan the future course of events meticulously – retire at age 45, send your child to a foreign university, set up a nice retirement home for your parents, travel the world with your spouse, and so on. But then an unforeseen tragedy takes place, and all your best-laid plans fall by the wayside.
You foresee a rosy future for yourself and your loved ones, but are you certain that your life will go on the exact same lines? What happens to your family when you are no longer present in their lives? Are you confident of creating such a handsome savings funds for your loved ones, that they can continue their present standard of living without any obstacles?
If your answer to the above question is ‘No’, then you need to urgently consider the possibility of taking insurance for your family. Insurance will protect your loved ones in your absence. However, if paying expensive premiums on life insurance policies worries you, you can buy term insurance.
Why term insurance?
Term insurance is a life coverage policy that helps the policy holder’s loved ones in the event of his unfortunate demise. The term plan provides a high sum assured amount that can take care of all future needs. Interestingly, the premiums payable are low and extremely affordable. Hence, those who wish to get good life coverage without paying very high premiums can buy term insurance.
There is no maturity or survival benefit on the term policy – if the policy holder survives the plan tenure, he does not receive the premiums paid or any other maturity benefit. However, this factor is offset by the fact that term policies offer the policy holder’s loved ones the opportunity to continue their lives unabated after his absence. The risk of future financial uncertainty is eliminated, which gives the policy holder peace of mind in the present time.
Based on your future needs and how much financial support your family will need to sustain itself in your absence, you can choose your term plan sum assured and premium payable. Buy a term plan online because it is fast and convenient to do so. You can even get a lower premium payable amount if you buy term insurance online. This is because the insurance company does not have to pay an insurance broker’s commission – this saving is passed on to you, the customer.
For your family’s future dreams – your child’s education and marriage, spousal support, a new home for a growing family, a retirement fund for your parents, and so on – you need a financial plan that provides sufficient protection at an affordable cost. Term insurance is that financial instrument that you seek.