Term Life Insurance Simplified!

“Where there is love there is life.”
~ Mahatma Gandhi.

If we rearrange what Mahatma Gandhi had said, it’d sound like: “Where there is life, there is love ... the love for the life.” That’s why, being a Professional Insurance Broker, we, InsuranceMall, say: “Where there is love there is life and a life insurance”

While we all live, work hard and enjoy, we have a serious plan in the conscious or subconscious mind for our loved ones – buying a bigger house, giving the best to your parents, giving the best of education to your kids etc.

Every plan, however personal it is, needs to be brought down to paper, to make it a reality including in-built anti-rockshocks. Moreover, this financial plan needs to be updated with new circumstances and improved needs of your dependants.

As quoted by John Lennon “Life is what happens to you while you're busy making other plans”. All of us, who have dependants, should plan their financials in the most real terms possible, to avoid any disaster.

Getting to business, here’s unfolding Term Life Insurance, the simplest and best way to cover your family from a risk of you not being around, when they need you the most.

Introducing Term Insurance:

One of the most important items of your plan should be buying a simple Term Life Insurance. Term Life Insurance is one of the smartest financial products which help you secure your family/dependants from any financial insecurity that may occur when you are not around in this world.

The product is simple and inexpensive. You buy a cover for a certain term at a annual price. If you die in the term, the insurance company pays the sum assured to your nominee. Of course, if fortunately you don’t die, you will loose the premium in most cases. [There are some return of premium options available too...]

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How to assess how much cover you need?

Here’s the easiest way to assess the amount of coverage you need. Even if you have already bought a Term Life Insurance in the past, it’s high time you assess and analyze whether the same secures your dependants completely:

Here it goes:

1. Multiply your Monthly Salary by 150%, to estimate your salary in the next 3 years.
2. Multiply the amount by 75.
3. Add the total of all your Outstanding Long Term Loans [more than 1 year]

Voila! You have arrived at the adequate term insurance coverage for your dependants.

If this figure is higher than your existing covers, this is the right time to take an add-on coverage.

Term Insurance rates have fallen by 35-40% in the last 6 months; hence, it is the right time to buy a cover.

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How to compare and buy the best Term Insurance?

The best way to know which company offers the best deals you can contact www.InsuranceMall.in through email on analysis@insurancemall.in.

InsuranceMall is a Professional Licensed Insurance Broker, authorized to legally deal with all Insurance Companies in India.

When you send an email to InsuranceMall – be rest assured that you would get the best deals in India on a platter, with a one page comparison to help you take a decision, spot on!

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Click here to read: How Reliable Private Life Insurers Are?

Mr. Mahavir Chopra
CEO
insurancemall.in