Term Insurance

Term Insurance

Term insurance is a type of life insurance that provides coverage for a specified period or “term.” If the insured dies during this term, a death benefit is paid to the beneficiaries. Unlike whole life or universal life insurance, term insurance does not have a cash value component; its primary purpose is to offer financial protection to dependents in the event of the policyholder’s untimely death

Term insurance is a life insurance policy that provides coverage for a specified period, ensuring financial protection for your beneficiaries in case of your untimely death. It is an essential financial planning tool, especially for individuals with dependents, as it offers several key benefits

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Key Features & Benefits of Term Insurance

Affordability

erm insurance policies typically have lower premiums compared to other life insurance products, making them accessible to a broad range of individuals.

High Coverage

Offers substantial coverage amounts, providing significant financial security for the policyholder’s family.

Flexibility

Policies can be tailored with various term lengths, ranging from 10 to 30 years, to match different financial goals and responsibilities.

Riders and Add-Ons

Optional riders, such as critical illness coverage, accidental death benefit, and waiver of premium, can enhance the policy’s protection.

Tax Benefits

Premiums paid for term insurance policies are eligible for tax deductions under Section 80C of the Income Tax Act, and the death benefit is generally tax-free under Section 10(10D).

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