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28-11-2012 Launching of new website

Manappuram Insurance Brokers Pvt Ltd launched new website in the domain maibro.in....

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Term Insurance

TERM POLICIES
Term Insurance helps the customers in safeguarding their families from financial worries that arise due to unfortunate circumstances. Term plans are pure risk cover plans with or without maturity benefits. These pure risk plans cover your life at a nominal cost
Term plans also let you avail the benefit to cover your outstanding debts like mortgage, home loan etc. In case of something happens to you, the financial burden is borne by the insurance company and not your loved ones.

Term Plan offers you the following benefits:
1)High insurance Cover at lower costs
2)Financial security against loans and mortgages,
3)Single premium payment option available
4)Available with host of Additional rider benefits

What are the features of term life insurance?
Low Premium: The premium in term insurance is lowest and most affordable as compared to to other life insurance policy like whole life insurance.
Policy can be renewed: Term life insurance policy are renewable, no matter how many years they are initially taken out for. These renewable term life insurance policies make it possible for the insured person to carry on with their current policy with all of the benefits. Once the term life insurance benefits expire, you can usually renew the same policy with the same premiums and rates.
Change in premium: Every time a term life policy is renewed, the insurance company is sure to change the premiums based on certain factors like proposed earning, mortality expense, risk management norms or health of person.
Convertibility: A term insurance policy that allows the owner to convert the term policy to a permanent life insurance policy during a specified period of time without having to show that the insured is in good health.
Single-premium term plan: You make a huge one-time payment and avail the cover for specified period.
Regular premium term plan: You have to pay every year till the end of policy period. Mode of payment can be yearly,semi-annually, quaterly or monthly.

Types of term insurance:
Level term insurance: The level term insurance is one in which the premium remains constant till the policy period. With level, death benefit remains constant throughout the policy period. Example- If you buy a policy for 30 years your premium remains the same for 30 years.
Decreasing term insurance: The sum assured will decrease over the term period and will be nil by end of term. Premiums for a decreasing term policy usually remain level throughout the term period. Decreasing term insurance is generally purchased by those who have financial obligations that decrease over time such as a mortgage or a personal or a business loan.
Annual renewable term insurance: This is another type of life policy that covers you for one year. The premiums you will pay for this level amount of insurance will increase each year.