Term Insurance

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Term insurance is the simplest and most fundamental insurance product.Term insurance plans are designed to ensure that in the event of the policyholder’s death, the family gets the sum assured(the cover amount).Every earning individual is expected to earn till his retirement as his family is dependent on his earnings. He fulfills his several financial responsibilities with his savings & recurring income. Life is uncertain and any unfortunate event like death or permanent disability can stop his capability to earn. Do you ever think that who will take care of your child’s education and who will look after your family IF something unfortunate happens to you?

Term insurance with high risk cover might just be the effective solution as it replaces your income source in case of an eventuality. During the specified term, life insurance amount will make it possible for you to own sufficient funds to take care of your family’s basic requirements at low cost. You can take this plan for a specific period or up to the maximum renewal age mentioned by the insurer. It offers coverage till the time policyholder maintains the insurance and stop when you outlive the term.

What is term life insurance?

Term life insurance ensures that your family receives a large lumpsum amount, called the sum assured, in the unfortunate event of death of the policyholder. By offering this benefit at extremely competitive rates, Term insurance plans provide an opportunity to get the protection of insurance cover at extremely affordable prices.

Why do I need term life insurance?
  • Increasing liabilities:People today prefer to take loans to fulfilling their needs, instead of waiting to save for the future. India’s outstanding credit card debt had touched Rs 26,500 crore in May 2008, up by 87% from May 2007. Hence, in your absence, your family needs to take care of this loan.
  • Nuclear family structure:Earlier, people could depend on their extended joint family system to take care of their near and dear ones in case of their absence. However, the share of families with more than 5 members has come down from 64% in 1990 to 56% in 2005 and is expected to decrease further.**
  • Increasing lifestyle diseases:The share of lifestyle diseases in India is increasing. Also, people in senior management are more prone to lifestyle diseases, as per an ICRIER Study.
Why should I start planning my life cover needs now?
  • One should have adequate cover for dependents. It’s better to be prepared and ensure that the financial needs of your loved ones are taken care of, in the unfortunate event of death.
  • With age, the premiums tend to increase and therefore buying term insurance becomes more expensive.
  • Apart from the benefit of protection for your dependents, also enjoy tax benefits under Sec 80C up to Rs. 1,00,000.
How can I make a claim?

At Ankush Capital every claim is a fulfillment of a promise that we have made to our policyholder and we do our best to process the claim in the most transparent and quick manner. In line with our philosophy of easing the financial burden on the policyholder and their nominees we have a simplified 4 step claim process.

Advantages
  • High coverage at a very affordable cost
  • Additional benefits can be availed for extra security
  • Flexibility to select the sum assured
  • Various premium payment modes
Suitable for

The terms insurance policy is must for everyone especially for those who have dependents like parents, children etc.

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