Benefits of Term Insurance

Term insurance offers few of those advantages that you can't get with traditional life insurance policies. It has several benefits.

Term insurance is the cheapest form of insurance.
Select the length of the term for which you would like coverage, up to 35 years.
Payments are fixed and do not increase during your term period.

In case of an untimely death, dependents will receive the benefit amount specified in the insurance agreement.

You can customize term life insurance with the addition of riders, such as Child, Waiver of Premium, or Accidental Death.

Another popular feature of term insurance is return of premium. It is a little bit higher than your regular term life insurance. But they carry the benefit of refunding what you have paid for 100 percent.

As a investing rule if we look at it we should always take insurance cover 10-15 times the annual salary we are getin

For example if somebody is earning 1 lac rs per annum then ideally he should have a insurance cover of 10-15 lacs for his or her life

For this we should not consider traditional insurance plans rather then we should focus on term plans which offer insurance at very cheap rates