Protect Your Future With
TERM INSURANCE
A Solid Foundation For Financial Safety.
What Is Term Insurance?
Term insurance is the most straightforward form of life insurance, designed to provide financial protection for a specified duration. With MSK Finserv, you can secure a term insurance plan that ensures your nominee receives a financial benefit if you pass away during the policy term.
As a pure life insurance product, a term plan offers coverage solely in the event of death, with no return of premiums if you outlive the policy term. For those interested in receiving premiums back after the policy ends, MSK Finserv offers term insurance plans with a return of premium feature.
You can obtain a term life insurance plan through MSK Finserv by paying premiums at your preferred frequency, ensuring the necessary financial benefit for your loved ones. Our expert advisors are here to help you choose the right plan to meet your needs and provide peace of mind.
KEY FEATURES
Substantial Life Coverage
Accidental Death Coverage
Disability Coverage
Cost Effective Premiums
Premium Waiver Option
Fixed Term
Why Do I Need
Term Insurance?
To Ensure Your Family’s Financial Security
As the main income provider for your family, you bear the responsibility for their financial stability. A term insurance plan guarantees that your family’s financial requirements are met, even in your absence, offering them the support necessary to sustain their standard of living.
To Safeguard Your Assets
If you’ve invested in assets like a home, vehicle, or other significant properties through loans, a term insurance plan can help ensure that your family won’t face difficulties in fulfilling these financial commitments. It provides reassurance that your assets will not become a financial burden on your loved ones.
To Reduce Lifestyle Risks
The abrupt loss of the primary wage earner can cause considerable financial strain. Although no insurance can replace a loved one, term insurance can ease the financial burden that follows such a loss, facilitating a smoother transition for your family.
To Prepare for Life’s Uncertainties
Life is inherently unpredictable, and unforeseen events can have a profound impact. A well-chosen term insurance policy equips you and your family to manage unexpected challenges and uncertainties, offering a financial safety net against life's unpredictabilities, much like the global effects observed during the Coronavirus pandemic.
Benefits Of Term Insurance
Affordable Premiums
Financial Protection
Income Replacement
Whole Life Coverage
Taxation Benefits
Riders and Add-ons
Accident Insurance Benefit
Death Benefit Payout
Critical Illness Coverage
Frequently Asked Questions
Term insurance works by providing coverage for a predetermined period, such as 10, 20, or 30 years. During this period, if the insured person dies, their beneficiaries receive a payout. If the insured person survives the term, the policy expires, and no benefit is paid out.
Yes, many term insurance policies offer the option to renew or extend coverage at the end of the term. However, premiums may increase based on the insured’s age and health status at the time of renewal.
Term insurance provides coverage for a specific term and offers no payout if the insured survives the term. Whole life insurance provides coverage for the insured’s entire lifetime and includes a savings component that builds cash value over time.
Riders and add-ons are additional benefits that can be attached to a term insurance policy. These may include coverage for critical illnesses, accidental death benefits, or waiver of premium in case of disability.