What Are Term Insurance? Why Its Important to have?

KYD - Personal Finance

Term insurance is a pure life insurance product of life insurance that provides financial protection to the policyholder for a fixed period of time in return for a fixed premium amount.

Term life insurance policies provide only financial protection hence provide high coverage amount at most affordable and affordable premiums.

Life is full of uncertainties, which can be understood very well after the corona pandemic. 

Term plans are the best option for this, which saves one’s life from financial loss to the family due to such untoward incidents.

If you are the only earner in your family then you must buy term insurance. Through a term insurance policy, you can secure the financial future of your loved ones. 

When you make a big investment like home, car or any personal loan then you should first take term insurance. 

Your family should not suffer any financial loss when you are no more. Whatever liability you have can be easily met through term insurance.

Life insurance is the first thing in financial planning, and if you want to keep your family financially secure, then definitely buy life insurance. 

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