Buy term insurance to protect and ensure the financial security of your family/dependents even in your absence. Today, their financial security is guaranteed by you—you take care of their standard of living, fund their education and marriage, and give them the peace of mind that comes with knowing that they are secure.
If you buy term cover, an untimely demise during the period of coverage is unlikely to financially disrupt your family’s living standards as they will receive a significant sum assured as death benefit. This lump sum amount can be used to pay off liabilities and handle day-to-day living expenses in your absence.