3 Things That Your Term Insurance Plan Must Offer

Most term insurance plans have important features such as guaranteed renewable, cash value, and flexible benefits. We consider these features as a bonus to you because they add more security and protection to your family.

 

This term insurance plan gives you peace of mind in case something unexpected happens to you. The policy will pay the nominated beneficiary a fixed lump sum amount at the end of the term period, provided that death has occurred within that period. So, if you're looking for a way to ensure some financial security for your loved ones, look no further than Paybima Term Insurance Plan.

Three Points You Should Consider

 

Covers Your Spouse 

 

The best term insurance protection plans not only cover the earning member of the family but also the non-earning one. The plan provides you with a fixed sum assured for your lifetime to cater to your family's financial needs and lifestyle in the future, in the event of his/her unfortunate demise. The sum assured is equal to that of your spouse's income at the time of purchase of this plan. At maturity, this plant matures into a whole life insurance policy and thus assures continuing protection for you throughout life.

 

Leave a Legacy for Future Generations

 

Life insurance is the only financial product that offers protection for your loved ones. The future of your family depends upon you and this financial tool could help you provide them with the future they deserve. With Paybima, you can live a greater tomorrow today. The whole life option provides you with the opportunity to continue your term life cover till the age of 99 years. That means the policy will benefit your nominees even in case of natural demise. Thus, providing them with a lump-sum and tax-free estate. You can achieve all this at the term insurance cost.

 

Upgrade the Cover as You Progress in Life

 

Life insurance plans come with different riders. You can upgrade the policy according to your requirements. There are riders that cover critical illness, accidental death, return of premium, and more. But if you need the upgrade, then it will cost you an additional premium amount. If you have a good credit history, then you can easily get a policy at an affordable rate during your initial years of earning. Once your earnings reach a good threshold level, then you can consider getting upgraded for better benefits at a nominal price tag.

 

Conclusion

Term Insurance plans help you to make the best of your income and secure a better future even in the absence of any tangible asset. At Paybima, we strive for providing our customers ultimate peace of mind with our wide range of life insurance cover for one year to thirty years. All these plans are meticulously designed for meeting the specific needs of different individuals in different stages of their lives. Get mahindra insurance brokers ltd contact details to fix your query today.



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