Term Insurance

1
Term Insurance

• An Overview.

2
What is Term Insurance?

• Term insurance is life insurance that pays out in
  case of the death of the insured person, during
  the term of the insurance policy.
• This type of insurance is cost-effective with
  highly affordable premiums.
• These premiums can be paid as Single Premium or
  Regular premiums, as per the policy you have
  selected.
• In term insurance, a fixed premium has to be paid
  at regular intervals.
• In return, the insurance company provides a
  specific amount as insurance cover.

3
Why do you need Term Insurance?

• Your family depends on you The term insurance
  money can be used to meet your familys monthly
  expenses and important goals like your childs
  education.
• Your assets need protection You may take loans
  for assets like a house or a car. However, if
  something happens to you, your loved ones might
  be burdened with loan repayments. In such a
  situation, the term insurance payout which your
  family will receive can be utilized in paying off
  outstanding loans.
• Lifestyle risks Modern day lifestyle problems
  can lead to a host of ailments. Some term
  insurance dont just protect your family after
  death but also during your lifetime by offering
  critical illness protection.

4
Benefits of a Term Insurance Plan

• High Life Insurance Amount at affordable
  premiums Term insurance plans provide high life
  insurance cover. The cover compensates for
  several years of lost earnings and hence can be
  extremely high compared to the annual premium.
• Support In Case Of Disability In new-age Term
  plans such as ICICI Pru iProtect Smart, the
  insurance company pays your future premiums in
  case of total and permanent disability. As a
  result, your life insurance cover continues even
  if you are unable to pay premiums.