Term Insurance

Make sure your family is financially backed till the time you wish to insure yourself.

    What is term insurance?

    Term insurance is a life coverage which can be availed by a person for insuring his life for a limited period of time. The person who wishes to take a policy has to decide two things. One, the cover he/she wish to take. Second, his/her current age.

    The premium is mainly affected by these two factors. The shorter the age lesser the premium will be. Larger the cover higher the premium amount will be.

    insurance. These traditional insurance plans also have higher tax savings compared to other plans.

    Who should buy a Term insurance

    A loss of one’s presence can’t be replaced but the financial loss can be manged with a term insurance. It is advised for a person to take a life insurance cover once he gets into commitments. In such case, though his absence will hurt the family it will save them from financial insecurity.

    Back up to the family

    It is vital for a breadwinner of the family to avail a term insurance, once he gets into a commitment. Term insurance adds confidence to a person’s life to pursue and achieve his goals. In the pursuit if he has to miss his life the cover amount can at least manage the financial loss.

    Collateral for asset

    The most unknown fact about Term insurance is that it can also be kept as collateral for any loan to be bought. The term insurance can be kept as collateral in the same bank where the loan has been taken.

    Facts to be considered for term insurance

    There are few important facts to be considered before buying a term insurance. These factors have a huge impact on the premium as well as helps in choosing the right plan.

    Unhealthy habits

    As the term insurance covers the life of a person. It is very important to consider the same for deciding the premium for the policy. If the person has unhealthy habits like smoking or drinking the premium will be high. It’s a fact that people with unhealthy habits tend to die sooner than healthy people.


    As discussed above, the age of a person impacts the premium the most. The younger the policyholder is the lesser the policy premium will be. It is better to take a life insurance during young age to have a less premium amount.


    Nowadays gender has also become a factor that is considered. It is acknowledged that females tend to live more than males. Thus, the premium for females is lesser than males.


    There are few professions like stunt masters to whom life insurance is not given. Same as that people’s profession who tend to travel a lot has to pay a higher premium. Their chance of losing life is high compared to normal people.