Term insurance is a type of life insurance plan that provides financial coverage to the policyholder’s family for a fixed time or years, called the ‘term’ of a policy. This type of life insurance offers a death benefit to the nominee in case of the death of the insured during the policy term. A term insurance plan provides high life cover at low premium rates.
For e.g., A 30-year-old healthy, non-smoker male can buy a term policy cover of Rs. 1 Crore for his family for the next 20 years. If he buys a term plan, he must pay only Rs. 725/month. With this 1 crore cover, he can ensure that their family will be able to maintain their current lifestyle without any hassle in case of his untimely death.
Note: The premium differs based on the type of premium payment option opted by the term policy buyer.
Rajeev, a Healthy and non Smoking male.
Rajeev bought a ₹1 crore Term Insurance for a 25 yrs policy term to secure his wife financially.
In the 9th Policy year, Rajeev suffered an unfortunate death.
His wife received a ₹1 Crore death benefit from the insurer.
His wife can use the benefit & maintain her current quality of life.
Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans.
AMFI Registered Mutual Fund Distributor | ARN- 3511 | Initial Registration Date- 31.03.2003 | Valid Upto- 26.03.2025
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