A closer look at term insurance

1
A closer look at term insurance
2
What is Term Insurance? What is meant by "Buy
term and invest the difference?"

• Are these some of the questions on your mind?
  Before we take a closer look at Term Insurance in
  particular, it is worth noting that Insurance
  Planning is an important aspect of overall
  financial planning for almost everyone.
• Why? The reason is other savings/investment
  programs will only work if you are able to
  continue to earn an income. However, what if you
  become disabled and lose your ability to work?
  When that happens typically your earned income
  stops, but your expenses will continue and most
  likely increase as a result of additional
  expenses in the form of medical treatment and
  nursing care.

3
(No Transcript)
4
A Self-completion Savings Program

• The important advantage of Insurance is that it
  is a self-completion savings program. Even when
  you lose your ability to earn an income, your
  savings program need not be discontinued. All you
  have to do is to incorporate a waiver-of-premium
  benefit in your Life Insurance policy and you
  will have the peace of mind that in the event of
  total permanent disability, all future premiums
  are waived. Furthermore, the cash value of your
  policy continues to grow as the Insurer will help
  you complete your savings program.

5
The Need for Protection varies

• Depending on our financial condition and the life
  stage that we are at, our need for Insurance
  protection will vary. For instance, for young
  people, total and permanent disability (TPD)
  coverage may be a key issue, but as we get older,
  the critical issue will be the cost of major
  illness and long term care as the risk of illness
  usually increases with age. Thus it may be
  important to get lifetime coverage for critical
  illnesses (dread diseases) by getting Whole Life
  Insurance rather than Term Insurance plans. Such
  Whole Life Insurance plans may be supplemented by
  Term Insurance plans to give you higher coverage
  when your need for coverage against disability is
  higher in your younger days and lower coverage in
  the later years of your life.

6

• As each person's financial situation is unique
  and tends to change over different stages of our
  lives, it would be advisable to seek the advice
  of a competent and knowledgeable advisor to help
  you structure an Insurance portfolio that meets
  your needs and aspirations, taking into
  consideration not only your current financial
  condition but also your future plans and needs.

7
What is Term Insurance?

• As the name implies, Term Insurance Comparison
  are insurance plans that offers insurance
  protection for a limited time period only.
  Generally, most Term Insurance plans provide
  protection up to maximum age ranging from 55 to
  85.

8
https//www.facebook.com/bajajallianzlifeinsurance
ltd
https//twitter.com/bajajallianzLIC
Source https//www.dollardex.com/SG/current../co
ntents/termpoliciescontentID132