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 -  1 year 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.
"
1 year ago - By Rahul Shukla

Other Answers (0)
Answer: Open Questions RSS
PINJORE: CaℒL Giℛℒ In PiNjOrE 087270-59439 Escoℛt SeRvIcE iN Chandigarh Call gIℛℒS SeRvIcEs PiNjOrE
TO KNOW ACCOUNT HOLDER NAME
View All
Discover: Resolved Questions RSS
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?
Auto Insurance
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
Identify the cheapest home loan offer Jan 12, 2010
SBI's merger plan with remaining associates still laggard Aug 31, 2010
Police decides to issue management guidelines for banks Aug 6, 2010
NBFCs appointed as BCs not in interest of banks: RBI Dec 9, 2010
RBI panel suggests stricter norm for gold loan firms Jan 3, 2013
News Archive
EDITORS' PICKS
All about Vintage/Classic car insurance in...
Must have add-ons for luxury car insurance
Factors affecting car insurance premium
An insight into two wheeler insurance
Kinds of auto insurance coverage