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Term Insurance 1897 views December 27, 2019
Ravi was a 39-year-old successful businessman He had always been wise with his money and looked to get solid returns from all his investments. He looked at all spends as investments and this is why he refrained from spending money on a term insurance plan. Term insurance does not offer a return component when the policyholder outlives the policy period. Because of this, Ravi was never interested in getting term insurance. But as he grew older, he realised his family needed the backing of a term insurance plan. At the same point in time, he heard about the term insurance plans with a maturity benefit. Ecstatic, Ravi promptly bought the best term insurance plan with money back option. He was pleased and his family was protected.
Table of Contents
Term insurance is available in many varieties. The simple and most common type of term insurance is the level term plans where the sum assured remains constant throughout the policy period. There are also available the increasing term insurance plans where the sum assured increases as the policy progresses. The decreasing term insurance plans have a decreasing sum assured as the policy progresses. All these plans promise to pay the death benefit when the policyholder dies but do not have a return component if he outlives the policy period.
A term insurance plan with return of premium, or a TROP as it is popularly known, is a type of term insurance that offers a maturity benefit. The policyholder gets the money he invested back if a claim is not made in the tenure of the plan. The best term insurance plan with money back works on this principle and helps people like Ravi who want returns from their investments.
Here are some benefits you get when you buy a TROP:
Keeping these benefits in mind, you can understand just how handy and useful the best term insurance plan with money back is. Look for your ideal cover and stay secured.
Here is a list of the best term insurance plans with money back in India:
All these plans are good options for those who are looking for the best term insurance plan with money back. Go over the features, match them with your requirements and get the plan that you feel would suit you well.
The Final Word
Look for the best term insurance plan with money back and get the cover without any further adieu. Just remember that a TROP may have a higher premium than a regular term insurance policy as the maturity benefit is an added feature. Compare the various plans and see which is the most suitable option for you. Buy the plan and stay protected in a wholesome manner.