Business Corporate 5 Major Points to Buy the Best Term Insurance in India for Working Professionals JohnDecember 6, 20220170 views Today, having financial security for yourself and your family is equally important asearning. Wondering why? We do not know what life holds for us, and that’s why wehave to be prepared for it. Having a financial corpus ensures that your family isfinancially protected even when you are not there to provide for them. Investing in a term insurance plan has become crucial today, especially for workingprofessionals. Having invested in a term insurance plan provides you and your familywith financial security and ensures that you can achieve your goals and dreamsseamlessly and without any financial restrictions. If you are still thinking about why aterm insurance plan has become a necessity today, you have come to the rightplace. This article tells you about 5 key points to buy the best term insurance in Indiafor working professionals. Table of Contents Financial SecurityTax BenefitsSecure Your AssetsRider BenefitsCover Critical Illnesses Financial Security Having a financial backup ready in advance is necessary for the coming years. Thisensures that you and your family are secure and do not face any hassle, even in theworst-case scenarios, such as the unforeseen and untimely policyholder’s demise. Tax Benefits Another key reason working professionals should invest in a term insurance taxbenefits. The premiums paid by the policyholder for term insurance are eligible fortax benefits under Section 80C of the Income Tax Act, 1961. The policyholder canclaim upto Rs. 1.5 lakhs of tax benefits in one financial year. However, tax laws areas per Income tax Act, 1961, and subject to change from time to time. Secure Your Assets There may be unforeseen and unavoidable situations wherein you might have totake a loan because of a financial emergency. In case of an untimely policyholder’sdemise, the financial burden of paying off the debt might come on the family. Thismight result in your family paying off the debt against valuable assets. Investing in aterm insurance plans saves you from losing your valuable assets and helps yourfamily pay off the debt seamlessly. Rider Benefits Instead of investing in multiple insurance policies to avail additional benefits and getextensive coverage, the policyholder can opt for rider benefits. A rider benefit covers the additional benefits and offers vast coverage under one term insurance policy.The policyholder can opt for various rider benefits, such as accidental death riderbenefit, waiver of premium rider benefit and more. However, riders are notmandatory and are available at an additional cost. Cover Critical Illnesses As we grow old, the chances of getting diagnosed with a critical illness, such ascancer, etc., also increase. Moreover, we know that the cost of getting a criticalillness treated is increasing day by day, which might create a financial constraint forour family and us. A term insurance plan covers the majority of the critical illness andensures a financial backup is ready. Moreover, it also ensures that you do not haveto worry about how you will be paying for your medical treatments, and you can fullyfocus on your recovery. You now know about 5 key reasons to invest in the best term insurance in India,especially for working professionals. Talking about investing in the best terminsurance, you should prefer going for a trusted and leading insurance provider.