FAQs 194 views October 23, 2018

It entirely depends on whether you wish to keep your loved ones financially secure in the event of loss of income owing to a sudden unfortunate event like death. The grief of losing a loved one is unparalleled. Loss of income due to death magnifies the pain, especially, if you are the only bread earner of your family. Term insurance is nothing but a risk cover that ensures financial cover to your family in the event of your death during the policy period. With a term insurance plan in place, you can ensure financial protection to your loved ones for a period that they would require to secure their own future. Depending on what you believe your life is worth and the nature of your responsibilities, you may decide on the quantum of life cover. The predetermined amount of sum assured, i.e., death benefits would be paid to your nominee(s) by the insurance company in the event of death or any other uncertainty.