What is Term life insurance?

Term insurance is a pure life insurance product, which offers financial protection to the policyholder. In the event of the death of the insured during the term of the contract, the beneficiary receives a death benefit as defined in the chosen term insurance plan.

Why should you Buy Term Insurance?

Term insurance is the most important investment you can make for your dependent family. As the lifestyle bestowed on you to your family will remain the same even if you are not present with them. The term insurance premium is less than the sum insured you receive; you need to buy it if:

  • You are only one source of income or if another source does not earn less than you
  • You had no family assets that your family will survive after your death
  • Your family has a history of illness
  • You have heavy credit, such as a mortgage, etc.
  • You want to live a peaceful life without any family survival tension

How Does a Term Plan Work?

·        A lump sum is payable to your family in the event of the death of the policyholder under the chosen term insurance plan. 

·        You can choose to receive term insurance benefits as a regular monthly income, plus a lump sum depending on the variant you choose. 

·        Riders can be added to the basic term insurance plan for enhanced benefits in the event of accidental death, disability or critical illness at an affordable price.
 

Why Buying Term Insurance is a Must During COVID-19 Pandemic?

During the time of COVID-19, many people lost their lives. In these difficult times, it has become crucial to purchase term insurance that offers the option of adding a COVID-19 rider.

What is Rider in Insurance policy?

A rider is an amendment or schedule to a life insurance plan that adds additional coverage to its basic insurance benefits. In other words, it aims to strengthen life insurance with multiple benefits, outside of its basic offer.

How to Choose the Best Term Insurance Plan?

  • Check your requirement
  • Check Claim settlement ration of insurance company
  • Know the Existing Customer Experience
  • Consider Service Quality and Online Availability

How to Buy Term Life Insurance Online?

You can buy life insurance online by following a simple and easy process. You can buy term insurance plan online you must go to policy bazar from there compare and buy the policy following the below mentioned steps:

Step 1: Log on to www.policybazar.com and click on “Calculate Premium”.

Step 2: Enter your personal information like Name, Mobile number, Gender, Smoker/Non-Smoker, Date of Birth, Annual Income. Click on “Calculate Now”.

Step 3: Enter Life Cover amount, premium payment term and click on “Proceed”.

Step 4: Select Riders and click on “Proceed”.

Step 5: Enter all the essential information required and click on “Proceed”.

Step 6: Select your Payment method and click on “Pay”.

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