Insurance Basics

Term Insurance and why it is important for everybody

Planning your future is one of the most important things that you can do -making sure you and your family are financially stable throughout your life, preparing for costs that you know you will have to incur in the future, or being assured that if life decides to throw uncertainties your way, you would be in safe hands financially to face the challenge head on and come out the other side stronger than before. The old adage “health is wealth”, is certainly true. If a person is healthy he can protect himself and his family one way or the other and if he is the sole bread earner of the family, it is always at the back of his mind that he should be prepared to leave a safe net for his family to fall back on if the day comes that he is not available anymore.

A life insurance does exactly this - provide the insured person’s family with a sum assured on the death of the individual to make sure that the family does not have to face hardships after their loved one is no more. But what if the hardship that you had to face was not as extreme as death, or what if you require some extra financial help in times of uncertainties. This is where life insurance may not be able to help you at that time. A term insurance plan on the other hand offers life cover for a specific sum and for a specific tenure. If the policyholder dies during the term, the life insurance company will pay a death benefit. The death benefit will be paid to the beneficiary or nominee. A good Term insurance plan helps you protect yourself even better by covering the bid 3 Ds of your life: Death, Disease and Disability.

A term insurance plan can be subscribed to at a very low premium cost. The payouts can be customised as per your needs, whether it be a lump sum payout or divided monthly. It is further beneficial as the premium you pay towards it is exempted from Income Tax as well. If unfortunately, any person is diagnosed with a disease whose treatment may be on the expensive side or meet with an accident that may render one disabled, the Term insurance plans offer the payout.

HDFC Life Click 2 Protect 3D Plus is an online term insurance plan that offers comprehensive security at an affordable price. 3D stands for the three uncertainties that we face at some point in time, i.e. Death, Disability and Disease. With this online term policy, ensure that your family is safeguarded financially if an unexpected eventuality occurs. HDFC Life Click 2 Protect 3D Plus offers a wide range of 9 plan options to help one choose as per their need. It provides special premium rates for females and also gives you the option to increase the sum assured on maturity over the years.

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