Thread by @saumya1singh

70% of Indians are just one hospital bill away from poverty.

It's true. It's sad. It's eye-opening.

“Insurance first, Investment later”

The Ultimate Guide to select a Term Life Insurance plan.

Thread 🧵

My friend’s father passed away during covid.

Leaving a housewife, three kids aged 15, 18 and 24😔

And with a Home loan of 1 Cr+ and Car Loan of 10L+

This could've been avoided via Term Insurance. All you need to know about term insurance 👇

• Term Insurance is the simplest and purest form of life insurance. It provides financial protection to your family at the most affordable rates.

• It provides financial security to your dependants in form of lump sum money in case you pass away.

• Policy duration

Your term plan is meant to replace you financially. You only need it till your kids are financially dependent

So, go for a plan that covers your family till your kids are well-settled. It’s much cheaper & premiums shoot up if your plan is beyond the age of 70

• Policy Cover

Keep these things in mind:

Annual income
EMIs & loans
Daily expenses (rent, bills, other insurance premiums)
Kids’ school & college fees
Existing life insurance at 6% inflation, your 1CR cover will be equivalent to 4.5L in the next 50 years.

• Riders

You can make your term plan more comprehensive by getting these add-ons a.k.a riders:

Life Stage, Waiver of Premiums, Critical Illness etc

• The favorable part?

Once you’ve purchased your plan, your low premium amount is locked in forever‒ safe from inflation.

• Tax-saving benefits

Our premiums and the final death benefits are exempted from being taxed under Section 80C & Section 10D of the Income Tax Act.

The right term plan depends on your needs

A few of India’s top-term insurers are about to hike their prices

So, if you’re considering getting term insurance, schedule a FREE call with Ditto Insurance to lock-in low rates now- bit.ly/3OGwwat

LIMITED SLOTS

#partnership