If you are reading this article, You’re probably considering buying a term plan or any other plan for financial or security reasons. If there is one thing certain it is that getting a term plan could be the best decision of your life. Why is a term plan better? You might wonder: Term life insurance for NRI in India is a sort of policy that offers protection for a predetermined time, or “term. If the policyholder lives past the term, the insurance will expire and no longer provide coverage. As a result, you stand to gain in either event. Let’s look at some of the amazing term plan that you can consider for Term life insurance for NRIs in India.

1. Whole life insurance: This kind of Term life insurance for NRI in India features a savings element and offers coverage for the policyholder’s entire life. Over time, the policyholder can accumulate a cash value that can be accessed for borrowing or premium payment.

2. Term life insurance: This kind of plan offers protection for a predetermined amount of time, usually 10, 20, or 30 years. It is frequently the least expensive kind of life insurance, making it a viable choice for those who only need coverage for a short time, such as the term of a mortgage or until their children reach adulthood.

3. Term life insurance with a return of premium provision: This kind of Term life insurance for NRI in India offers protection for a predetermined period and ensures that if the policy is not used, the premiums paid will be reimbursed to the policyholder.

4. Universal life insurance: This term plan combines a savings element with term life insurance coverage. As their needs change over time, the policyholder can choose the level of coverage they require and modify their premiums and death benefit as necessary.

5. Indexed universal life insurance: combines the protection of a universal life insurance policy with the opportunity for cash value increase depending on the performance of a stock market index in this type of term plan. People who seek the adaptability of a universal life insurance policy but are also interested in possible cash value increases may find this to be a desirable alternative.

6. Variable universal life insurance: combines universal life insurance coverage with the opportunity for the policyholder to invest the cash value in a number of different investment vehicles, including equities and mutual funds. This can be a good option for people who want the flexibility of a universal life insurance policy and are comfortable taking on investment risk.

All the above plans have some striking benefits such as they are very affordable and flexible. Applying for a term plan is also very simple because Term life insurance for NRI in India insurance policies do not have any cash value or investment components, they can often provide higher death benefit coverage for the same premium compared to permanent life insurance policies.

What are you waiting for, select the plan you like and go for it. There is no wrong decision.

Charles Marshall