{"id":40402,"date":"2019-04-15T16:26:29","date_gmt":"2019-04-15T10:56:29","guid":{"rendered":"https:\/\/www.newsilike.in\/?p=40402"},"modified":"2019-06-06T12:16:52","modified_gmt":"2019-06-06T06:46:52","slug":"term-insurance-myths","status":"publish","type":"post","link":"https:\/\/www.newsilike.in\/term-insurance-myths\/","title":{"rendered":"Know the Truth Behind these 5 Term Insurance Myths"},"content":{"rendered":"\n
\"Term<\/figure>\n\n\n\n

A product as simple as the term insurance experiences a hard\ntime in order to gain acceptance from a majority of people. Due to its lack of\nawareness and understanding amongst the masses, customers think twice before\ninvesting in a term insurance plan. <\/p>\n\n\n\n

On the contrary, a term insurance policy<\/a><\/strong> offers a vast number of features and advantages which are beneficial to the customers. It is always important to stay updated about the facts about a life insurance policy rather than wiggling out of an opportunity like investing in term insurance. If you want to make informed decisions regarding the policies, then busting irrelevant and unnecessary myths is important. Take a look at these 5 most common myths regarding term insurance plans and the uncover the truth behind them:<\/p>\n\n\n\n

List of the myths about term plan:<\/h2>\n\n\n\n

Myth 1: Term Insurance doesn\u2019t cover the dependents<\/h3>\n\n\n\n

Whether or not you have dependents, it doesn\u2019t matter when it comes to investment in a term insurance plan. Therefore, purchase a term insurance plan<\/a><\/strong> as it is a lot cheaper as compared to other life insurance policies. Additionally, if you want to increase your insurance cover, it won\u2019t be too expensive as compared to purchasing a new cover with a humongous sum assured. <\/p>\n\n\n\n

Myth 2: Term Insurance doesn\u2019t allow extension of a cover<\/h3>\n\n\n\n

The most common myth one can encounter about a term\ninsurance is that there\u2019s no scope for increasing the cover of term insurance.\nHowever, this isn\u2019t the case anymore. If a person purchases this plan based on\nhis income at the age of 25, then he can increase the amount as he grows older\nto the age of 40 years. As the cover is based on your income and the needs of\nthe family, it will cost you more. <\/p>\n\n\n\n

Myth 3: Term insurance doesn\u2019t offer returns<\/h3>\n\n\n\n

Honestly, if you are this person with the mentality that\nterm insurance policy doesn\u2019t provide you with a return, then you should\ndefinitely think twice. Being the purest form of insurance, a term insurance\npolicy serves with a high life coverage at a nominal rate. For instance, you\ncan receive a cover of Rs.50 Lakh for a monthly premium of Rs.500. A huge\nbenefit like an insurance coverage should be more than enough to buy term\ninsurance. <\/p>\n\n\n\n

Myth 4: Term Insurance is expensive<\/h3>\n\n\n\n

Due to a growing demand for life insurance policies, every insurance company is keen on providing its customer with term insurance. With the advent of the online term insurance policies, it has become cheaper and affordable to buy term insurance online<\/a><\/strong>. This is because the premium rate of online term insurance policies is cheap.<\/p>\n\n\n\n

Myth 5: Term Insurance only provides benefits at the time of\ndeath<\/h3>\n\n\n\n

Typically, a term insurance policy provides sum assured to\nthe nominee of the policyholder, at the time of his death. Besides, it may also\nserve with additional coverage in order to cover unforeseen events like\naccidents, critical illness, and disability at a nominal rate. Certain\ncompanies offer this extra coverage with a selection of pay-out mode. This will\nensure that your family is sound and secure even if anything is to happen to\nyou.<\/p>\n\n\n\n

Now that you know what is a myth and what is the truth, are\nyou ready to invest in a term insurance plan? Protect your precious ones from\nall the unfortunate events like financial exigencies in order for them to live\na safer and happier life. Along with that, use a term plan calculator to help\nyou save up for more in the future to achieve the dreams of your family.<\/p>\n","protected":false},"excerpt":{"rendered":"

A product as simple as the term insurance experiences a hard time in order to gain acceptance from a majority of people. Due to its lack of awareness and understanding amongst the masses, customers think twice before investing in a term insurance plan. On the contrary, a term insurance policy offers a vast number of…<\/p>\n Read More<\/span> Know the Truth Behind these 5 Term Insurance Myths<\/span><\/a>","protected":false},"author":2,"featured_media":39622,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"Layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Know the Truth Behind these 5 Term Insurance Myths #Insurance #Myths #TermInsurance #India","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[5220],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.newsilike.in\/wp-content\/uploads\/Term-Insurance.jpg","_links":{"self":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/40402"}],"collection":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/comments?post=40402"}],"version-history":[{"count":0,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/40402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media\/39622"}],"wp:attachment":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media?parent=40402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/categories?post=40402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/tags?post=40402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}