A life insurance plan
a life insurance plan;
• A term plan provides a sum assured amount to your nominee(s) in the event of your unfortunate demise while the policy is in force.
• As compared to other categories of term life insurance, it offers the sum insured of your choice at an affordable premium.
• Thus, any individual desirous of getting life coverage and protection for himself and his family members, can buy a term policy.
• Through add-on benefits, you can get additional coverage in your term plan like increasing the sum assured or critical illness to the riders, accidental death benefit etc.
• You can start with term insurance policies before you are sure of buying market linked insurance plans with wealth creation.
• Affordable premium amount along with options to avail additional coverage makes it a comprehensive solution in terms of taking care of the future needs of your family in your absence.
• However it should be noted that term insurance plans do not have maturity benefit. Pure term life insurance policies do not offer any benefits including premiums paid if the policyholder submits the plan term profile.
SBI Life Insurance will give better option.
Taking a life insurance plan for yourself and your family members has become important in today’s times. Life has its uncertainties; – A phase of stability today may turn into a period of volatility tomorrow. You cannot predict the course of future events, but you can manage these risks by taking life insurance.
Most of the people planning to take a life insurance policy are uncertain between taking a life insurance policy or a ULIP (Unit Linked Insurance Plan). Both are life insurance products, but there are basic differences between the two. Before deciding which life insurance plan you want, consider the key features of both:
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