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# Benefits of Term Life Insurance

##### Protection for Family

Term life insurance protects your family, against any financial uncertainty. It provides for your family needs and requirements, in your absence.

##### Natural or Accidental Death Coverage

Term life insurance provides monetary coverage to your loved ones in the face of natural or accidental death.

##### Disability Benefits

Term life insurance covers you against any accidental disability caused by any unforeseen situation.

##### Affordable Premium

Term life insurance can be acquired from as low as Rs. 2100 per/year and provides coverage up to 15Lakh.

##### Tax Benefits

You can avail tax benefit from the government on your Term Life Insurance plan when you file your tax returns.

##### 14 Days Money Back

14 days free look period, in case you don't want to continue with the procured policy.

## Term Life Guide

#### What is Term Life Insurance?

Term life insurance can be bought for a period of one year. It has a low premium and a very high coverage. Simply a life insurance that fits your budget. This insurance provides you financial coverage incase of natural or accidental death of the policyholder, the family shall be provided with the coverage amount depending on the plan procured. Term life is time specific and after every 12months (1 year) you need to buy the policy again. The policy covers individuals 18-61 and enrollment age is from 18-60. The policy has a 14 day free-look period, during which you can cancel the policy if not satisfied.

#### What is the benefit of Term Life insurance?

The main benefit of the policy is that, if someone dies in an accidental death or natural death suddenly, this policy provides a financial cushion to the family to immediately cope up with the financial loss the family may face due to loss of an individual. The lump sum money provided can be used for funeral expenses, to pay off debts, to finance education etc. Another benefit is after one year if you decide that you don't want to continue with the policy you can choose to not to buy the policy again for the upcoming year.

#### What is not included in Term Life Insurance ?

The term life insurance does not cover any death that has been the result of suicide or self-inflicted injury, any death due to any kind of pre-existing condition for instance if a person already has a heart condition and they die due to heart attack, that shall not be covered under term life insurance and lastly if a person dies during the waiting period, (30 days from the purchase of the policy) that shall also not be covered under the ambit of Term life Insurance.

#### What is the difference between Term Life Insurance and Whole Life Insurance?

Term life insurance is for a specific time period that is 12 months, if the policy is not claimed within the time period, it expires and to continue with the coverage you need to procure new policy after every 1 year from the date of policy purchased. It can be bought by an individual above the age of 18 till 60 each year by paying a very low premium against a very high coverage. Whole Life Insurance is provided by multiple companies, it is a long term commitment and has a policy maturity period around 20 years, the covered amount can only be claimed once the policy has matured or you die, in that case the monetary benefit is provided to the person nominated.