Figuring out a “ Perfect Home” is a tedious task. Right from imagining your family staying in that house to fitting into a particular budget involves a lot of research. After all its a basic survival necessity. You choose the best home loan company that suits your requirement. Then comes the home loan process. Funding a loan isn’t easy as it seems as you have to provide valid documents and fulfill the conditions. Then comes the approval. Its like a dream come true. But, what happens in any case of an awful incident? Is your family ready to bear the consequences? Unarguably NO. For this you need a life cover. Term insurance Plan is a kind of life cover. Term plans are custom made to secure ones family needs in case of the insured person death or any eventuality. Term Insurance Plan provides coverage to the nominees in case the insured person expires. It is for a defined period of time or say till the policy is active. The term plan comes in handy when you have a home loan.
Lets have a glance at some of the ways in which a Term Plan can be beneficial for a person who has a home loan.
To cut the long story short it is crucial to buy a Term Insurance along with your Home Loan. The Term Insurance Plan provides financial aid to the members of your family in your unavailability or non-existence. The Term Insurance does not have any maturity benefits. So, what are you waiting for? Go ahead and buy a Term Insurance Plan and cover your Home Loan if you haven’t done it yet.
Health Insurance for Smokers - The fact of being a smoker amplifies the health insurance premium for smokers as compared to non - smokers.
Critical Illness Cover - Understand some of the important reasons why you definitely need to include a critical illness rider along with your term insurance plans
Life insurance can be combined with investments and many life plans allow you to do that. Check 4 Types of Life Insurance Investment Plan You Can’t Miss.
Term Insurance - Are you planning to buy Term Insurance? Check 5 Common Mistakes to Avoid While Purchasing Term Insurance Plan
We usually hesitate while buying a term insurance plan. Read 5 Myths about term insurance plans that you should not believe.
Life Insurance is important to be considered by every individual. Here are the 5 Things you Can’t Miss to Know about Life Insurance Policy.