What is Term Insurance Plan | PNB MetLife Insurance Policy

What is Term Insurance Plan | PNB MetLife Insurance Policy

PNB MetLife India 01-08-2016 01:38:46 PM
What is Term Life Insurance Plan

What is Term Life Insurance?

A term insurance plan involves a financial benefit when the insurer is no more. The corpus amount can be availed by his/her family, if the policy holder passes away during the period of the policy. But, if the holder survives through the term, the family does not receive any amount. The sole purpose of a fixed term plan is to secure one’s family for a specified duration.

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How is it significant?

  • It requires a small amount of premium for a life cover that lasts through a year.
  • One could also opt for a higher sum of term plan, according to their cover requirements.
  • You can opt for term insurances in a wide range of terms like 10, 15, 20 or even 30 years. The coverage depends on your term choice.
  • You could buy a term plan online, without the mediation of an agent with the insurance company.
  • Term plans are easy to process and simple to buy. Moreover, the family of the insured benefits instantly after the death of the policy holder.

Who should invest in a Term Life Insurance?

Everyone should ideally invest in Term Plans, which are very affordable and amount to a small portion of your yearly expenses. Planning and saving money to invest in a term insurance should be practiced by everyone, which will eventually help you live a carefree life. A term insurance is definitely a feasible way to care and protect your family for a short term and most importantly with a small investment.