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Is it a Good Idea to Invest in Short Term Plans During the Pandemic?

dateKnowledge Centre Team dateDecember 16, 2020 views123 Views
Is it a Good Idea to Invest in Short Term Plans During the Pandemic?

The COVID-19 pandemic has been a major setback to the whole world. It has made us realise how we lacked in our healthcare infrastructure as well as decision-making skills. Nevertheless, the pandemic has also provided us the time to decide what will be best for our families and our future. It has been one of the major reasons many people are investing in life insurance policies to secure their future and financial goals.

Regardless of the age group that you fall into, whether you have just received your first paycheck or you are thinking about retirement, you can find a short term insurance plan that suits you. They can be the best answer to secure your near future against the aftereffects of COVID-19.

The Indian economy has already experienced a startling downfall during the lockdown imposed in the wake of the pandemic. One needs to plan their future accordingly so that they do not face any issue to address their future financial needs.

Key Reasons to Invest in Life Insurance Plans

  • Financial Freedom:

    It is yet to be predicted about the impact of COVID-19 on our economy. With a life insurance, you can ensure that you and your family will be financially free by paying affordable premiums.

  • Easy to Buy:

    You do not have to go through a complicated process or circle the bank to buy a term insurance plan. You can get your desired plan through a few clicks on your computer.

  • Varied Payment Options:

    You do not need to manage your premiums with regular payments. With flexible payment options, you can choose to pay a quarterly or yearly premium.

  • Convenient Payout Options:

    We understand that every family has its own unique needs and may need different payout options. You can choose to get the returns monthly, like a regular salary or at any frequency that may suit you. This offers you flexibility and a constant source of income.

  • Additional Benefits:

    Once you buy a term insurance plan, you can get customised benefits such as extra discounts based on your habits, age, medical history, profession, and gender.

The Best Life Insurance Plans to Invest in During the Pandemic

We offer an array of term insurance plans that can fit the needs of a myriad of people living in India. One of such plans is the iSelect Smart360 Term Plan. The plan includes the best features that one can need in term insurance plans and comes with customisable options so that all your requirements are satisfied.

Top 5 Features of iSelect Smart360 Term Plan

  • Ensure Financial Security and Freedom of Your Family.

    With iSelect Smart360 Term Plan, you can make sure that your family is never left in want of anything due to monetary issues. With monthly income options, you can fulfil their financial needs when you are unable to do so.

  • Tax Benefits

    Under section 80C and 80D on Income Tax Act, buying a term insurance plan will provide you with tax benefits. You no longer need to fret about paying extra for security as it will be covered by the tax savings you make.

  • Ensure the Financial Security of Your Spouse.

    With the iSelect Smart360 Term Plan, you can include your spouse as a part of the term policy. They will get maximum benefits of the insurance plans whenever you need financial coverage.

  • Complete Coverage in case of Disability and Accidental Death.

    When you choose the iSelect Smart360 Term Plan, you are taking a firm step towards ensuring that all your financial needs are met if you meet an accident resulting in sudden disability or death.

  • Discounts and Subsidies.

    For existing customers, female term plan buyers, and those who pay higher sums will be eligible for additional benefits, including discounts on premiums.

    The pandemic has been a lesson for people that one needs to be prepared for any adversities that may come in life. An investment plan for as short tenure as 5 to 10 years can ensure the financial safety of you and your family in the near future. It also safeguards you in the times of unforeseen tragedies.

    With a well-planned investment, you can maintain the standard of living of your family during any financial fallout. Get a life insurance plan for your peace of mind even in the uncertain times of pandemic.

    iSelect Smart360 Term Plan is customisable and inclusive to address each requirement that a family or person may have. You can buy the insurance plan from the comfort of your home online anytime you want.

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iSelect Smart360 Term Plan

Term Insurance Plan

Life Cover till 99 years of age

Option to Block the premium rate and increase cover by upto 100% at the blocked rate

Option to avail monthly income post attaining 60 years of age

Option to receive total premiums paid in case of no claim

Tax Benefits as per applicable laws

Guaranteed Savings Plan

Savings Plan

Better value for high premium commitment

Guaranteed benefits payable on maturity

Life cover for the entire term

Flexibility to choose premium payment terms

iSelect Guaranteed Future

SAVINGS PLAN

5 plan options to choose from to protect your loved ones

Pay premiums for 5,7, or 10 years as per your financial goals

Payor Premium Protection Cover to secure your family’s future

Tax benefits may be available as per prevailing Tax Laws

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