Aditya Birla Sun Life Insurance Company Limited
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Imagine a world where your loved ones are always by your side, their laughter filling the air and their warm embraces bringing you comfort. You cherish every moment spent together, knowing that your family is the cornerstone of your existence. But now, let's take a step back and face the truth. Life has a way of throwing unexpected challenges our way, and the thought of not being there for your family when they need you most is a terrifying prospect. As you shoulder the weight of financial responsibilities, the need to protect and provide for your loved ones becomes paramount. Nobody wishes to dwell on the potential consequences, but it's a reality we must plan for. In this ever-changing world, where uncertainty lurks around every corner, it's essential to prepare ourselves for the unexpected. If you're looking for the perfect solution to ensure comprehensive life coverage, term life insurance, considered pure life insurance, is the way to go. But what exactly does 'pure insurance' mean? And why are term plans referred to as pure term plans? Let's delve into the details and uncover the answers!
Term insurance is a form of life insurance that serves a specific purpose. By purchasing a term insurance policy, you are primarily safeguarding your family and their future financial requirements in the event of an unforeseen circumstance. This policy essentially acts as a replacement for your income, ensuring that your family's financial needs are met without them having to sacrifice their dreams and standard of living.
Let’s explore some of the features of term insurance plans – ➔ Assured - The term insurance policy ensures that your nominee will receive a sum of money known as the sum assured if you, unfortunately, pass away during the policy term. This is the benefit provided to your family against the regular premium payments you’ve made during the policy period. However, note that if you live beyond the policy term, you will not receive any payouts. ➔ Customisation Benefits - You have a plethora of options at your disposal to tailor a term insurance cover that perfectly aligns with all the current and future needs. Let's explore some of them:
This brings us to a question…
As you may already be aware, insurance is essentially a contractual agreement between yourself and the insurance company.
You will pay a premium, while the insurer will provide financial assistance to your loved ones in the unfortunate event of your demise during the policy term. A policy term, also referred to as the duration of your policy, represents the policy tenure technically the number of years for which your policy remains active.
For example, if you are 30 years old and intend to buy a term insurance policy till the time you are 65, then the duration of your plan will be 35 years. If you pass away in the middle of the policy duration, the insurer will pay a fixed sum of money to your nominee. However, if you survive till the end of the policy period, you won't receive any monetary sum.
Many people often wonder how much they will get back when they purchase term insurance. It is a common perception that investing in financial products will yield returns, but that's not the case with term insurance. The claim will only be paid out if you unfortunately pass away during the policy term.
In term insurance, you won't find the concept of maturity benefit like other types of insurance. This makes term life insurance known as pure risk insurance cover, as it focuses solely on providing life insurance coverage without any savings or investment coverage. Unlike other life insurance policies, such as whole life or endowment plans, term insurance is uniquely tailored to provide your loved ones with pure risk coverage in your abscence.
Unlike other life insurance policies, a term insurance plan focuses solely on providing financial protection to your loved ones in the event of your untimely demise during the policy tenure. It is minus the complexities and frills, leaving behind a simple and straightforward solution that ensures your family's future is safeguarded. It offers you peace of mind, knowing that your loved ones will be taken care of when you are no longer there to do so yourself. So, embrace the simplicity and clarity that term plans bring, and rest easy knowing that your family's financial well-being is secured through the power of pure insurance.
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Buy ₹1 Crore Term Insurance at Just ₹576/month*
Exclusively For Salaried Individuals
4 Plan Options
Life Cover upto 70 years
Optional Accelerated Critical Illness benefit
Inbuilt Terminal Illness Benefit
Life Cover
₹1 crore
Premium:
₹576/month*
Buy ₹1 Crore Term Insurance at just @ ₹576/month*
ABSLI Salaried Term Plan (UIN:109N141V04) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
*LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Annual Premium: ₹ 6400/- ( which is ₹ 576/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
ADV/7/24-25/1046
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