When you buy a term life insurance plan, there are numerous benefits you can enjoy under the life cover. One of the main benefits is paying quite affordable premiums for a high sum assured that offers extensive life insurance coverage to you and your family. This ensures that they and their financial needs and interests can be protected when you cannot support them.
With a high sum assured or term life insurance coverage, your family can fulfil a number of financial obligations. Apart from the benefits offered by the term plan sum assured, you can also choose to enhance the coverage of your term insurance with the help of riders^. By paying an additional premium for any rider offered by your insurance provider, you can enjoy additional benefits such as coverage against critical illnesses, hospitalisation, terminal illnesses, major and minor illnesses and injuries, accidental death, and disability, and also opt for a waiver of premium! However, since riders come at an additional premium, it helps to consider adding only the riders you need to your term insurance plan instead of opting for all the riders offered.
Among the many other benefits, you can also avail of preferential premium rates as a woman policyholder or an affordable premium rate as a non-smoker or avail of a discount if you purchase your term plan policy through the official website of your insurance provider.