If you can have two cups of chai everyday, you can buy a term plan

Before the start of a fresh day or after the end of a grueling one, one thing is common. A cup of freshly made chai! Everyone desires to start their day and end it with a cup of tea and biscuits. It’s a symbol of the starting point in the morning and finishing point in the evening. You consider your cup of tea more important than the Rs.10/- or so that you pay for it. It, according to you, is value-for-money. A value that cannot be expressed in words.

Such is the value of a term plan

Almost at the same cost of two cups of chai every day, you can secure the future of your family. Let’s assume one cup costs Rs.10/-. 2 cups a day for 30 days makes it Rs.600/- a month. Your annual expense on tea is Rs. 7200/-. An online term plan for a Sum Assured of Rs. 1 crore will cost you only Rs.7130/-*. Of course, it will give you more value in terms of peace of mind than your cup of chai.

What is a term plan?

A term plan is life insurance in the purest sense. In a term plan, the policy holder insures himself for a particular amount which is the Sum Assured. In the event of his untimely demise, his beneficiary receives the entire Sum Assured in lump sum. In some policies like Edelweiss Life MyLife+, there is the additional option of receiving the payout either as monthly payouts or as a combination of lump sum and monthly payouts.

Why term plans?

Term plans, especially the online ones give you a much larger and longer cover compared to traditional and other policies at a much cheaper rate. This ensures that your family’s future is secured by a much higher amount and for a much longer period. Since, the life insurer does not have to pay anything on maturity, the probability of making a payout is that much lesser because of which term plans are cheaper. Online term plans are a better buy because of the convenience which they provide. In a series of clicks, you can insure yourself and secure your family. This amount can help your family tide over the difficult times subsequent to your unfortunate demise. Dealing with the loss of a loved one with financial burdens can break even the strongest of souls. With a term plan, at least you will have peace of mind that your loss may not burden them financially.

Generate a quote for a term plan today and ensure that you are giving adequate protection to your family. After all, it is cheaper than your daily dose of chai.

* For a healthy, 30- year old non-smoker male for a policy term of 25 years.