Term Insurance

Buying a Term Plan! What’s the Big Deal in it?

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As a caring father, a responsible husband you have successfully played your part of the job. But have you ever thought about the consequences if an unfortunate event occurs to you? Will your loved ones be able to cope with the financial crisis in your absence? If these questions worry you, you must provide a financial safety net to them with a term plan.

Meet Avinash, a resident of Delhi, he is a big fan of life insurance policy. The pay-out of his father’s term plan saved him and his family from dipping into a huge financial crisis. Pre-mature death of Avinash’s father left his family shocked. It’s true that his father’s physical presence can never be compensated for but a term plan taken by his father served as a safety net for Avinash and his family. Now, Avinash is working for a software company in Gurgaon after completing his B.Tech and happily living with his family.

The only reason for his family’s stability is the term plan his father had taken in his early age.

Most people are only aware that life insurance policy is a tax-saving instrument, but it is much more than that. Let’s take you through some of the major benefits of having a life insurance plan that can bring massive positive changes in your life:

1) Financial Security

No matter how much is your income, if you’re the only breadwinner of the family then in case of your unfortunate death the family will fall on hard times both emotionally and financially? A term plan provides adequate funds to tide through the financial crisis.

2) Debts

This is an era of loans. Everyone has taken some of the other kind of loan to live a luxurious life, but in the event of death, more than a luxury these debts can bring misery to your household. A term plan offers you enough coverage to help your family members pay off such debts and other expenses to live a stress-free life.

3) Responsibilities

You have your responsibilities towards your spouse, children, and parents. Your sudden demise may put them in the path of harm. A term plan can help to provide enough financial arrangement so that running a household, children’s education, parents’ old age concerns and expenses like that are taken care of.

4) An Asset

A life insurance policy is more of an asset than a liability. It helps your family in your absence and even when you’re alive, it can help you in various ways. Tax saving is one of the benefits. Another option is that you can get a loan against your policy at an attractive rate of interest.

5) Peace

Nothing is more important than knowing for sure that your near and dear ones will be taken care of in your absence, at least financially. A lump sum amount of the insurance cover will really help your family to regain their balance in the event of your unfortunate demise. It’s your family; you owe it to them, don’t you? Opt for Edelweiss Tokio Life – Zindagi Plus which will give your family a stress-free and a financially independent life even in your absence.

Don’t wait any longer; make the right decision right now!

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