Why you should protect your loved one with best term life insurance (2)

1
Why you should protect your loved one with best
term life insurance
BimaKaro.in
2
Best Term Insurance Policies

• Life is uncertain. Hence, it gets even more
  crucial to plan for them, such that your family
  members can stay comfortably and manage their day
  to day expenses while achieving their goals, even
  when you are not around. The financial stability
  of your family is essential when you are planning
  for the future. And this is the reason why you
  need to avail the best term life insurance.
• While choosing an insurance policy, you need to
  look at various aspects of your life as a family
  person. For instance, with another individual
  joining you after marriage, life certainly takes
  its own direction with multiple responsibilities
  to handle on a regular basis. When kids arrive,
  it is even challenging to multitask as you need
  to plan for goals, commitments, investments, and
  finances, taking into account the entire familys
  likes and wishes. The best term life insurance
  plan will act as a protective umbrella not only
  for you but for the whole of the family.

3
What does a life insurance plan do
How you can choose the best term life insurance
plan to protect your loved ones? It is common
nowadays to take home loans, personal loans or
other miscellaneous loans to cover the expenses
of the family. If you are a newly married couple,
it is difficult to avoid certain expenses. To
honour these financial commitments even after
your absence, it is not enough for you to take
any term plan. You should spend a considerable
amount of time reading through the term plan
documents, comparing it with peers, decide on
whether it suits your future needs and then
finally making the purchase. When it comes to
family, we know everyone wants to choose the best
term life insurance policy, there are certain
features that you need to check before making the
purchase.
4
Features that you need to check before making the
purchase
They are A total cover for the entire family
The term insurance provides you and your family
with a complete shield to safeguard against
future uncertainties that might include your
death, illness, accident etc. So, suppose your
family is entirely dependent only on your income.
In such a case, you should select for a coverage
amount that covers every family members needs,
including your spouse, kids, parents, and in some
cases, your in-laws as well. Opting for a small
cover will expose your family to the risk of
being underinsured, which is equivalent to no
insurance at all. The best term life insurance
plan will treat you with customisation options
that allow you to increase or decrease the sum
assured during certain events of your life.
Through this, you will be able to manage the
sudden changes happening in your life
easily. Covers Liabilities Safeguarding your
valuable assets and making sure the liabilities
are adequately handled even in your absence is
the main reason why people go for an insurance
policy. It helps to avoid loading unnecessary
burden on the family, especially if you have
taken a considerable amount of loans to purchase
your home, car, kids education, and so on.
Having insurance in place will give your loved
ones an adequate sum assured that they could use
to close the liabilities and use the remaining
funds to take care of their livelihood expenses.
5
Some of the common rider options

• Rider options A regular term insurance
  plan provides a death benefit, but its
  functionality can be extended by adding riders to
  the existing policy. Though riders come at the
  cost of premiums, you are guaranteed peace of
  mind and enhanced protection by spending a little
  extra.
• Not only this, but your family is also protected
  in such cases of uncertainties that might occur,
  apart from death. Some of the common rider
  options provided by insurance providers are
• ? Accidental death benefit The decided
  accidental death benefit amount is paid to the
  nominee.
• ? Accidental disability benefit The policyholder
  is paid the pre-decided accidental disability
  benefit amount in case he or she meets with an
  accident that results in any sort of disability.
• ? Serious illness cover Under this option, the
  insured is paid the serious illness benefit on
  diagnosis of the ten covered serious ailments.
• ? Critical illness benefit The critical illness
  benefit is paid to the diagnosis of two critical
  illnesses cancer and heart attack.

6
Deaths are generally accepted without any issues

• Death due to natural causes or health-related
  issues
• Death due to accidents.
• The following deaths are not covered under the
  term plan
• Death due to self-inflicted injuries
• Death by suicide (refer terms and conditions of
  the policy)
• Death by homicide (murder)
• Death due to intoxication
• Has multiple payout options The death benefit
  payable by insurance providers can be customised
  according to your familys needs and
  requirements. If you want a monthly income kind
  of facility to be given to your nominee, instead
  of the regular lump sum, the best term life
  insurance plan you choose should have options to
  accommodate it.

7
Popular benefit payout options are

• The four popular benefit payout options are Full
  lump sum payout, Lump Sum Regular Monthly
  Income, Lump Sum Increasing Monthly Income,
  Lump Sum Regular Monthly Income for the child
  (child support)
• For your family to stay secure from any financial
  troubles after your demise, make sure to choose
  the best term life insurance plan based on the
  above essential parameters. Bimakaro.in helps you
  in that process by providing a simplified
  interface for comparison of term plans without
  any bias. Among a huge list of market policies,
  websites like Bimakaro assist in choosing the
  right one for you and your family.

8
Conclusion
If you are someone that is looking to get good
life insurance and do not want to break the bank
for it then going for Term Insurance in the short
run is highly beneficial and offers peace of mind
like no other type of Insurance. Get your Term
Insurance Plans on www.bimakaro.in now!. Just log
on to www.BimaKaro.in now.