Term Insurance Eligibility: Why You Need It and How It Helps in India
In today’s world, financial security is crucial, and one of the most effective ways to ensure that your family is protected from unforeseen circumstances is by investing in a term insurance policy. However, before purchasing such a policy, it's important to understand term insurance eligibility and how it impacts your ability to secure this essential coverage. What is Term Insurance? Term insurance is a type of life insurance policy that provides coverage for a specified period or “term.” If the policyholder passes away during this term, the insurer pays a death benefit to the beneficiaries. It offers substantial financial protection at an affordable premium, making it a popular choice for those seeking life insurance. Why Do You Need Term Insurance in India? Financial Security for Your Family: In the event of an untimely death, your family may face significant financial challenges, especially if you are the primary breadwinner. Term insurance provides a safety net, ensuring tha