Term insurance provides coverage against the risk of death of the breadwinner. It only offers death benefits, in the sense that in the event of death of the life insured during the policy term, the beneficiary gets a fixed amount. There are no maturity benefits in term insurance as it is insurance in its purest and simplest form.
Securing your family’s dreams
If you have a family with an adorable kid and a loving wife, you definitely want that they succeed in achieving their dreams. You want to provide the best education to your kids, while taking your family on a vacation to visit exotic tourist destinations. But what will happen if you meet with an untimely demise in the future?
What will happen when you are not with them?
If you haven’t thought about this situation till now, you need to start focussing on your family’s future. Your main aim should be to secure their future in case your unfortunate demise. They should never face any problem or inconvenience in your absence. Your children’s education and other needs should never be compromised.
We never hope that such an incident ever happens in your life, but one always needs to plan for the future. Term insurance is the best financial solution in the event of a sudden death. The family will be granted a lump sum amount, and they won’t have to worry about their future. In fact, even in cases of critical illness, money will be provided for the family’s safety and help in paying medical bills. It can also act as a supplementary income in case of any accidental disability or illness.
One of the best options
Edelweiss Tokio Life provides one of the cheapest term insurances, a value-for-money offering worth considering.