Should insurances have to be a lifelong commitment? The answer is no! Insurances do not have to be a scary, long-term commitment. What if we tell you that you can get affordable, short-term coverages to protect you when it matters the most?

Term life insurances are temporary coverages that last only for a period of time and you can renew it or cancel it if you feel like you don’t want it anymore. You can get full coverage for low costs that won’t change over the set period.

Let us help you in understanding it better. You choose the coverage and how long you want it to be. From 10 years to age 5, you can choose the term as per your requirement, customize it with benefits that you feel is important and you are set. You can either pay the premiums monthly or annually.

Once the policy nears its end, you can either let it renew automatically or ask us to cancel it for you. The premium might increase as you age and according to your medical conditions. You will also have to submit relevant medical documents to support your health condition. When a term policy is ending, these are the options you have:

• Cancel it
• Renew it
• Convert to a permanent life insurance

Here’s Why You Should Choose a Term Insurance Policy

• This can offer financial security to your loved ones, should you pass away. They will receive a lump sum, tax-free amount to help them move on with their lives.
• These premiums are fixed and are guaranteed to not change during the term.
• If you have term insurance, you can convert it into permanent life insurance before you turn 65 or 70 depending on the company.
• If you are at age 100, you no longer have to pay premiums
• A 10-year policy can be shifted to 15, 20, 30, 40, or 50 without showing Insurability
• In case of accidental death, the beneficiary of your insurance will get an additional benefit amount if a rider is added.
• Most insurers provide a 10-day review period in which you can get a full refund and cancellation if you happen to change your mind

Term life insurances are an appropriate option for you if you have a tight budget – it’s easy to understand and also offers flexibility for your coverage. Get in touch us to know more about the policies, the benefits they offer, and how you can customize a policy according to your needs.

Contact Harpreet Puri for expert guidance in choosing the right term insurance policy and protecting your family’s future.