Term/Health Products

Term/Health Products

If you are wondering about what is term insurance, we are here to help you. Simply put, term life insurance meaning can be regarded as an agreement between the policyholder (insured) and the insurance company, where in case of the policyholder’s untimely demise, a specific sum is paid to the insured person’s family by the insurance company. You will find that term plans are significant when it comes to long-term financial planning. When understanding what is term insurance, it is important to also know – term insurance is the purest form of life insurance policy that offers comprehensive financial protection to your family members against life’s uncertainties.
Features Of Term Insurance
  • Coverage for medical expenses : The primary benefit of health insurance is that it provides coverage for a range of medical expenses, including hospitalization, surgeries, and other medical treatments. Some health insurance policies also offer coverage for pre-existing conditions, although this may be subject to certain conditions and exclusions
  • Cashless hospitalization : Many health insurance policies in India offer cashless hospitalization, which means that policyholders do not have to pay for their medical expenses out of pocket. Instead, the insurance company pays the hospital directly for the treatment.
  •  No-claim bonus : Some health insurance policies offer a no-claim bonus, which is a discount on the premium that is applied if the policyholder does not make a claim during the policy term.
  •  Tax benefits : Health insurance policies in India are eligible for tax benefits under Section 80D of the Income Tax Act. This means that policyholders can claim a deduction for the premium paid for their health insurance policy.
  •  Coverage for pre-existing conditions : Some health insurance policies in India offer coverage for pre-existing conditions, although this may be subject to certain conditions and exclusions.
  •  Coverage for critical illnesses : Many health insurance policies in India offer coverage for critical illnesses, such as cancer, heart disease, and stroke.
  •  Family coverage : Many health insurance policies in India offer family coverage, which means that the policy can cover the policyholder and their dependents, such as their spouse, children, and parents.
  • Renewability : Most health insurance policies in India are renewable, which means that policyholders can continue their coverage even after the policy term has ended.
     
     

Benefits Of Term Insurance

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Business Setup Growth
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Business Problem Solving
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Happy Customers
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Years Of Experience
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