Insurance is like a safety blanket. While you and your family go through ups and downs of life, there’s always someone looking for you. An emergency fund for your family saved through the years. Today, we will talk about what exactly is term insurance and how can you buy the perfect insurance plan for your family.
Let’s get started.
What is term insurance and why do you need it?
Term Insurance is one of the most basic forms of insurance. The premium rate is low, and the amount of life cover is large. The total amount accumulated through the years is paid to the nominee in an event of the policy holder’s death.
Here’s why you need to buy a good Term Insurance plan for your family.
Financial security of your family
Many families have only one primary earner. With inflation in picture, the expenses are increasing day by day. A term insurance can help your family meet the increasing financial commitments of your family even in your absence.
Having a back-up plan in this uncertain life is very important.
No defaults on your loans
If you have taken a car loan, education, personal, or home loan, these commitments will fall on your family in your absence. These repayments can weigh your family down financially, especially if there’s no primary earner in the family.
The proceeds of the term insurance can help your family pay off these loans easily and keep them financially secure.
Medical funds for lifestyle diseases
It is probable that you can develop a lifestyle disease as you age. Some of the term insurance plans offer cover as critical illness protection during your life and in your absence, your family’s.
Any critical illness benefit can give you financial security against any life-threatening disease like cancer and heart attack.
We believe these are the reasons why you should take a Term Life Insurance Plan for your family.
Now coming to how you can buy Term Life Insurance for your family.
Where can I buy a good term life insurance plan?
The top UPI payment app Airtel Thanks is the best place to buy a life insurance for your family. Airtel Payments Bank has tied up with Bharti AXA Life Insurance to offer Pradhan Mantri Jeevan Jyoti Bima Yojana or PMJJBY through their Airtel Thanks app.
PMJJBY is a government backed scheme and has many benefits. It offers life cover of 2 lakhs with a small premium of Rs. 330 per annum. You can buy the policy only if you are an Airtel Payments Bank user. Let’s see how you can buy the plan on the Airtel Thanks app.
- Open the Airtel Thanks app and head to the ‘Shop’ section.
- Now scroll down to find ‘Financial Services’ amongst many other shop icons. Tap on it.
- You will see many financial services here like personal loan, car insurance, digigold, etc. Please select Life Insurance by Bharti Axa.
- Fill in your details accurately. You can also read about the policy in detail here.
- Follow the instructions as displayed.
- And voila!
- You can also go for the auto-debit option to make sure your insurance premium is deducted yearly automatically.
And don’t worry! All online UPI payments on Airtel Thanks are secure and safe, just like your family’s future with a Term Life Insurance.
Also Read: WHY INDIVIDUALS SHOULD BUY HEALTH INSURANCE IN THEIR 30’S
