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Life and death are matters of uncertainty, but getting insurance is not! Losing someone can never be compensated, but the financial loss that occurs due to the demise of the earning member of a family can be taken care of with term insurance.
What is a Term Plan?
A Term plan is a form of life insurance that financially safeguards the policyholder’s near and dear ones after their untimely death. The term plan usually has economical premium costs that can be afforded even by individuals of mid-level or lower-income groups. The Tem plan is different from life insurance because it protects the policyholder only for the stipulated period that is mentioned in the policy. Multiple term insurance policies have varied benefits apart from the common life cover. There is no such best age or best term policy; it all depends on the type of term insurance that suits you better.
Always Better to Start early
As already mentioned, there is no such defined age to getting term insurance, but it is better if you purchase a plan early in your life. Multiple reasons that support this idea.
It Is Never Too Late
As discussed in detail, that young age provides better incentives for a term plan; it is always better to buy an insurance policy irrespective of your age. If you are in your 30s, 40s or even 50s purchasing a term plan will only benefit more than not having it. Even though the premium cost almost doubles, it is still worth it that your dependents are financially protected in case of unfortunate mishappenings. Moreover, if you have unhealthy habits, including smoking, your premium is likely to increase by a good margin. However, having an insurance policy at any age keeps you and your loved ones financially protected.
The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.
PNB MetLife India Insurance Company Limited, Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka.
IRDAI Registration Number 117. CI No: U66010KA2001PLC028883. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.
The marks “PNB” and “MetLife” are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
Call us Toll-free at 1-800-425-6969.. Phone: 080-66006969, Website: www.pnbmetlife.com, Email: firstname.lastname@example.org or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203
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As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at email@example.com or firstname.lastname@example.org. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.
PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance Plans, Term Plan, Protection Plans, Long Term Savings Plans , Retirement Plans & Child Education Plan.