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“You are a burden on your kids!”
Every smart Indian realizes the crucial role a term plan plays in their financial portfolio. There is no product quite like it in the market. For a sum as low as Rs 450 a month, you can be covered for Rs 1 crore for a term of 30 years.
To protect your phone from bumps and damages, you use a screen-guard. But when it rains, the screen-guard alone cannot help you protect your phone. You need a plastic baggie to keep the phone dry and safe from water. In the same way, a health insurance plan is the screen-guard and the additional plastic baggie used when it rains is the health insurance top-up plan.
We have all heard about health insurance and term insurance. And many have also bought these insurance products to protect themselves from adverse circumstances. Let’s quickly see how these would benefit you in case you are involved in an accident: