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Finance Forum India

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When Term Insurance Makes More Sense Financially

Insurance coverage in India is low and the primary reason for this is the high amount of premiums. Even amongst the insured, a large number of people are under-insured. This is because they opted for traditional endowment or whole life plans, which are expensive. Individuals have personal life and families at the utmost priorities and often these memories hold a special place. However, an affordable way to acquire adequate coverage is to opt for term policies. These policies entail lower premiums because they offer pure protection without any investment or savings benefits. Term policies will provide the plan benefits to the...
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How to lower term insurance premium rates?

An increasing number of people are choosing term plans because of their affordability and higher coverage. Insurance companies consider several factors when determining the premium payable on such plans. A few factors, such as gender and age cannot be controlled by the insured. However, there are certain factors that can be modified to lower the premium on term insurance plans. ·      Excessive smoking or drinking – Both of these habits have negative health effects, which is why habitual drinkers or smokers need to pay higher premiums on an online term plan. Every insurer requires the details of such habits before selling...
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What to do when your Term Insurance Plan Expires?

Term insurance is an insurance plan which provides coverage for a fixed period of time at fixed payment rates. It is one of the cheapest insurance plans. The term may extend from 1 year to 35 years.  If the policyholder dies during the term then the coverage is paid to the nominee.  If the term on your insurance plan is about to expire then you may be wondering what to do next.  Here are some ideas: 1. Apply for fresh coverage If your term insurance plan has expired, you may simply buy a new policy. This is especially beneficial as you will...
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