Term Life Insurance
What is Life Insurance?
Travel insurance is a policy that provides financial protection against unforeseen travel-related risks. These risks may occur before or during your trip and can result in medical expenses, financial losses, or travel disruptions.
A good travel insurance plan ensures you receive timely assistance and coverage wherever you are.
Types of Life Insurance Plans Offered by Novasure
Term Insurance
Affordable life cover offering high coverage at low premiums—ideal for pure protection.
Child & Family Protection Plans
Designed to secure your child’s education and your family’s future needs.
Whole Life Insurance
Provides coverage for your entire lifetime with long-term financial benefits.
FAQs
Why Life Insurance Is Important
Life insurance plays a critical role in long-term financial planning.
Key Benefits of Life Insurance
- Financial security for your family
- Protection against income loss
- Support for children’s education and future goals
- Coverage for loans and liabilities
- Peace of mind for you and your loved ones
How Much Life Insurance Coverage Do You Need?
Choosing the right coverage amount is crucial.
Coverage generally depends on:
- Annual income
- Outstanding loans
- Family living expenses
- Children’s education and future needs
A common guideline is to have life cover equal to 10–15 times your annual income.
Riders – Enhance Your Life Insurance Coverage
Riders provide additional protection by paying a small extra premium.
Common Life Insurance Riders
- Accidental Death Benefit
- Critical Illness Rider
- Waiver of Premium Rider
- Permanent Disability Rider
Tax Benefits of Life Insurance
Life insurance offers tax advantages under current income tax laws:
- Premiums qualify for deduction under Section 80C
- Death benefit received by nominee is generally tax-free under Section 10(10D)
Tax benefits are subject to prevailing laws.
Who Should Buy Life Insurance?
Life insurance is essential for:
- Married individuals
- Parents with dependents
- Self-employed professionals
- Individuals with financial liabilities
- Anyone who wants to secure their family’s future
Common Myths About Life Insurance
- Life insurance is expensive – ❌
- Only earning members need insurance – ❌
- Insurance is only for old age – ❌
In reality, life insurance is most beneficial when purchased early.
How Novasure Helps You Choose the Right Life Insurance
- Requirement-based coverage assessment
- Comparison of term plans from leading insurers
- Clear explanation of policy terms
- Assistance during policy purchase and renewal
- Ongoing support for policy servicing
Life Insurance vs Other Investments
Feature | Life Insurance | Mutual Funds | Fixed Deposits |
Purpose | Protection | Wealth Creation | Capital Safety |
Returns | Not primary goal | Market-linked | Fixed |
Risk | Low | Market Risk | Low |
Life insurance should be the foundation, not a replacement for investments.
Secure Your Loved Ones with Life Insurance Today
Travel insurance ensures you are financially protected wherever your journey takes you. Novasure helps you choose the right travel insurance plan so you can focus on enjoying your trip.