Term Plan Insurance

Term Plan Insurance Service By Arth Vipra Finvest Pvt Ltd

Term insurance plans are one of the most affordable ways to keep your family’s life goals on track in case you are not around to provide for them, or life takes an untoward turn.

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What Is A Term Plan Insurance

Term insurance is one of the types of life insurance policy in India that you can buy for a specific period of 10, 20, 30 or more years, hence the name.

This is one of the most affordable type of life insurance. While some other types of life insurance policy offer maturity benefits, term insurance does not. It is one reason why term insurance, being the best insurance policy in India, is comparatively cheaper than other types of life insurance schemes. Term insurance is pure life cover, unlike other types of life insurance policies which have a saving component. You can also opt for a significant life cover at a lower premium as compared to other types of life insurance policy which are costlier but have built-in saving components.

What does Term Plan Insurance cover?

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Lucknow, Uttar Pradesh
Our Services are available in Lucknow , Uttar Pradesh and Surrounding areas.

Benefits Of Term Plan Insurance

Low cost of premium – The best feature about a term insurance plan is that you can get a large cover at an affordable premium. Plus, the earlier you buy, the lesser the premium you pay.

Complete life cover – May term plans come with an option of coverage till the age of 100 years. This is known as a whole life term insurance plan.

Financial protection – Your family will receive the sum assured from the insurer in the form of a regular payout or as a lump sum in case of your death. The payout will take care of your family’s needs.

Tax benefit – Premiums paid towards a term insurance plan and the money received on death are eligible for tax exemption under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Rider options – You can get multiple rider options for your existing term insurance plan such as Terminal Illness Cover, Critical Illness Cover, Accidental Death Benefit, Waiver of Premium, Daily Hospital Cash, Personal Accident Cover, Partial/Permanent Disability Cover, and many more. Riders come at the cost of an additional premium.

Unit Linked Insurance Plan

ULIP is both an insurance policy and an investment

Endowment Policy

Endowment plans offer you guaranteed returns on the death of the insured or after maturity

Moneyback Policy

Ensure protection for your family along with options to get money back*

Guaranteed Income Plan

A guaranteed income plan packs a variety of options and benefits that can help you get peace of mind once you retire

Term Plan Importance

The risk to your life makes your family vulnerable. Being an earning member, any unforeseen incident can disrupt the financial stability of your family. A term insurance plan ensures that your family does not have to compromise with their lifestyle in your absence. The payout from a term plan can be used to meet the monthly expenses of the household. The sum assured can also be utilized to fulfil the crucial life goals of your children like schooling and higher education.

Address

E-3/35, Vishesh Khand , Gomti Nagar, Lucknow, Uttar Pradesh 226010
15/90, Civil lines, Kanpur-208001

Contact Details

Phone No: 979-539-7222
Email: info@arthvipra.com

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Expenses of Family

Contrary to your pre-conceived notions, a term insurance plan is an absolute requirement. The financial security which the plan can provide cannot be found elsewhere. If you believe that the plan is not very important ask yourself the following questions. Find out if you can afford not to have a term plan.
Would my spouse be able to meet the financial loss associated with my death? Are my existing investments enough to meet my family’s lifestyle expenses? In my absence, how will my family manage its lifestyle expenses? Would my loans be taken care of if I am not around? Will my child’s future be secured in case of my sudden death?

Home loan EMI default

No one takes a loan with the intention to default, but many things can go wrong during the tenure of a loan, especially a long-term loan like home loans. The responsibilities as a borrower start after the loan is disbursed. One has to pay a fixed instalment every month, which includes a part of the principal amount and the interest. For instance, if you avail a home loan of Rs. 25 lakhs at 9% interest for a tenure of 20 years, you will be paying Rs. 22,525 every month. The liability remains until the entire loan is paid off.

The family of the borrower becomes the primary sufferer especially in the case of default due to death of the primary bread earner. Term insurance for a home loan can help you ring-fence your family from the liability in your absence. Term insurance plan for a home loan can help you protect your family in your absence. Basic term insurance against home loan could help in the event of the insured’s premature death and provide funds for the repayment of the loan.

Loan

A loan can get you and your loved ones the comfort of a car and security of a home, and many other things. However, your real responsibility begins only after taking the loan. You can repay the loan till you are alive and working. But have you given a thought about what your family would do in case something unfortunate happens to you before you repay the loans?

To ensure that the equated monthly instalments (EMIs) are paid on time, you need a backup plan to take care of your liabilities when you are not around – for this, you need an equivalent insurance cover against the loan. A term insurance plan can be the ideal solution in such a situation. A term insurance plan is a type of life cover which provides security to your family in case of an unfortunate event at just a nominal cost.

You can get an extensive cover of Rs 1 crore at an approximate premium of up to Rs 12,000 for a year. However, the premium amount will depend on the policyholder’s age and lifestyle. Smokers have to shell out more for the same amount of insurance cover.

Importance of Term Insurance for Businessmen

Most individuals aspire to be an entrepreneur or a businessman and break the vicious 9-5 monotonous jobs cycle. They seek independence in professional decision-making. This sense of ownership and responsibility often results in tremendous financial growth both for the person and business. However, this also means that as an entrepreneur, you are entering into a high-risk zone. In order to cushion the risk, mere safeguarding your business is not sufficient, you also need to financially protect yourself.

This is where term insurance comes into the picture.

Importance of Term Insurance for Businessmen

1. Asymmetrical Income Source

2. Business Liabilities

3. Financially Dependent or Non-Earning Spouse

4. A Hassle-free Safety Net

5. Economical in Nature

Home loan EMI default

No one takes a loan with the intention to default, but many things can go wrong during the tenure of a loan, especially a long-term loan like home loans. The responsibilities as a borrower start after the loan is disbursed. One has to pay a fixed instalment every month, which includes a part of the principal amount and the interest. For instance, if you avail a home loan of Rs. 25 lakhs at 9% interest for a tenure of 20 years, you will be paying Rs. 22,525 every month. The liability remains until the entire loan is paid off.

The family of the borrower becomes the primary sufferer especially in the case of default due to death of the primary bread earner. Term insurance for a home loan can help you ring-fence your family from the liability in your absence. Term insurance plan for a home loan can help you protect your family in your absence. Basic term insurance against home loan could help in the event of the insured’s premature death and provide funds for the repayment of the loan.

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We at , Arth Vipra Finvest Pvt Ltd suggest you the right product with our expertise.

Lucknow, Uttar Pradesh

E-3/35, Vishesh Khand , Gomti Nagar, Lucknow, Uttar Pradesh 226010
15/90, Civil lines, Kanpur-208001