TERM INSURANCE
Team QfinancialS has a collective experience of more than 20 years. The team has seen transitions in products right from Endowments, Money-Backs, RoP plans, etc. People have been given choices of various plans as were available at their times. But now the definitions have changed a lot.
TERM PLAN
What is Term Plan?
How a term plan works?
Why there is a need for term plan?
How is it cost effective?
Benefits of a Term Plan?
The best plan to take from an Insurance company is – TERM PLAN. It is a tool that takes care of the financial vacuum created due to the death of the earning member in the family. With rising uncertainty of life, it is very important to ensure that you are adequately covered and also the insurance cover is upgraded at regular intervals in consultation with your Financial Planner.
What is Term Plan?
Term Plan caters to people from different walks of life and age groups. In which you can customize your insurance coverage by choosing the desired benefits accordingly.
If you are earning, you should buy a term insurance plan to support your family’s financial future.
If you are single – You have your parents who may depend on you for financial support, especially after their retirement. With term insurance; therefore, you can help take care of their lifestyle expenses and create an additional source of income for them in your absence
If you are married with no kids – Your spouse may have no one else but you, to look for financial support. Thus, it becomes crucial that you create a backup plan to secure his/her future in your absence
If you are married and have kids – Being a parent, you have the responsibility to take care of your kids’ education and marriage expenses. Also, you are responsible for your partner’s financial well-being. A term plan will help support your family in maintaining their current lifestyle, even in your absence.
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