Secure Life With Term Insurance

Do skydivers jump off a plane without a parachute? The answer is a simple no. They want to land safely. Similarly, life insurance is that parachute which ensures a family’s financial safety in case of any unforeseen circumstances like sudden demise of a member. Indians are good at saving money. But we need to bear in mind that building a savings corpus takes time and discipline. Life, as we know is unpredictable and can throw a curved ball any time, disrupting the plan. Term insurance plans are the answer to handle that curved ball.   Understanding term insurance plans Let us take the example of a married couple,  Mangesh, 30, a software professional and Trupti, 29, a homemaker. Mangesh has taken a home loan of Rs50 lakh and a monthly contribution of  Rs15,000 is made towards building a savings pool for the family. Due to an unfortunate turn of events, Mangesh...