Ask your Question
   (100 characters left)
Search for questions:      Advanced
Credit Cards
Car Loans
Home Loans
Personal Loan
Education Loans
Fixed Deposits
Savings Accounts
Miscellaneous
Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate
Resolved Question:
Show me another
What are the benefits of a Term Insurance Plan?
In Miscellaneous  -  Asked by Ekta Kariya -  4 years ago

Best Answer:
"A Term Insurance is a type of life insurance plan that secures your family's future in the account of your death, disability, critical/terminal illness. It ensures financial protection for your family for a term chosen by you. If you've been thinking of buying a term plan, then here are a few benefits that you should be aware of:
a.) Helps you cover financial obligations: If you've taken any car loan, home loan or a personal loan, then having a term insurance plan would easily help your family repay your financial liabilities in case of your unfortunate demise.
b.) Lower Sum Assured: A term insurance plan provides you with a Sum Assured as low as Rs. 25 lakhs.
c.) Premium: A term insurance plan offers high coverage at low premiums. This is because these are pure risk plans and cover the risk of death of the insured and no investment component is involved. Hence, resulting in lower premiums.
d.) Tax Benefits: The premiums you pay under a term insurance plan are exempted under section 80C of the Income Tax Act, 1961.
"
4 years ago - By Rahul Shukla

Other Answers (0)
Answer: Open Questions
No question found.
Discover: Resolved Questions RSS
Wold Wide Spells+27839887999
Why is it necessary to compare health insurance online?
NRI Quash of FIR best lawyer advocate india (9873540498) men cell
What are the benefits of a Term Insurance Plan?
What is the entry age for senior citizen health insurance policy?
View All
Vote: Undecided Questions
No question found.
COMPARE RATES
Compare Car Loan Rates for a used car
Get best bank for Home Loan
Best FD rates by banks
Show All...
COMPARE QUICKLY
 Select a product:
 

CALCULATORS
More Calculators...
CALCULATE QUICKLY
 Select a product:
 

NEWS THIS WEEK
SBI introduces gold loan center in the North Aug 11, 2011
Credit card usage declines in India Sep 13, 2010
HDFC Bank organizes property fair in Bengaluru Feb 17, 2012
Axis Bank wants a branch in London Sep 6, 2010
Credit card debt trap: Avoid it by all means Jan 20, 2008
News Archive
EDITORS' PICKS
An insight into two wheeler insurance
Kinds of auto insurance coverage
A general guide to Auto Insurance
Must have add-ons for luxury car insurance
Some New Ways to Save on Your Car...