Term Insurance Plans

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Your Life is Much More Valuable Than you Think it is

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Human life is priceless. Money is an important factor that governs human life unlike other species. It is often jokingly said that humans are the only species that pay to live on the planet. If you earn and there are people who look up to your income to survive then your life’s worth to them is much more than just sentimental. Thus, you need to find out or arrange for ways to replace your income if somehow and unfortunately you die early, without leaving enough wealth for them to survive.

People get there valuable assets Insured so that if any financial loss or damage happens to that asset or commodity, the insurance company may reimburse, replace, reinstate or repair that asset. Your life is the most valuable asset, thus, you should get it insured. Once a person dies, that loss cannot be repaired. The surviving family is devastated emotionally. But if the person has taken life insurance, specifically Term insurance, the insurance company would replace the income brought in by the policyholder. In other words, the insurance company would pay a pre agreed amount, which is upto twenty times of the annual income of the policyholder, to the nominee or legal heirs of the policyholder.

For example, if your income is 5 lacs INR annually, you may take a Term Insurance upto 1 crore INR. This is a huge sum and interesting the Premium payable is quite insignificant relatively. That sum availed by the nominee from the insurance company is fully exempt from income tax under section 10(10)d. Moreover, the premium paid under this Policy is Deductible fully from the taxable income. With such huge amount of money the surviving family may have a decent life financially. They would definitely miss the person deceased but they may not have to compromise on their dreams and future.

Such is the power of life insurance. It would work as a very powerful financial asset in your absence. Your family would thank you for taking it and would respect you more for your display of responsibility towards them. Such is the sweat burden of love. To whom we love we automatically assume more responsibility towards them. Arranging for means to safeguard their lives and ensuring they maintain their current standards of living in your absence is the highest form of love you can display for them. It can be termed as the perfect departing gift to them.

Thus, start your hunt and compare online term insurance plans 'Online' because you would be saving money and would get more accurate information. In India internet usage has risen multifold times in last couple of years. Everything is being searched and purchased online. One more advantage of getting it online is that you would be saving on agent’s commission. Thus, online plans are cheaper and chances of fraud are also scarce as you yourself fill the information on their form moreover, everything is documented.

Comparing insurance plans online has become very convenient as now there are many online service provider sites are available that provide an unbiased and user friendly way to compare plans of different companies. They highlight the unique feature of various plans or policies that aid you to make well informed choices. The good thing is that there services are absolutely free to you in other words your premium does not increase if you purchase a plan through them or directly from the insurance companies website.

So, plan well. You life is both valuable and highly unpredictable. Make sure your family does not struggle financially after you are gone. They should remember the good times spent with you. They should not dwell in the feeling that had you been there they wouldn’t have had to stop dreaming high.