Robinhood Insurance Broker Private Limited

OneInsure Blog


When it comes to term plans, the OneInsure Research Team has observed that people prefer to opt for lump sum pay-outs. These pay-outs could be 50 lakhs, 1 crore, or 2 crores depending on your plan, but insurance companies will pay these sums in one shot in the event of your unfortunate demise.

However, people forget that their wives may not be able to logically invest these funds in an effective manner that gives her and the rest of the family a steady monthly income to survive without hassles. In your absence, she will miss the Rs 1 lakh/month salary that you used to get, not the 1 crore.

These days, instead of lump sum term plans, there are several companies that offer monthly income term plans. We suggest that the pay-outs of your term plans should be monthly – just like your salary. The total pay-out sum will remain exactly the same, but instead of lump sum pay-outs, she will receive monthly income for a fixed period.

In your absence, your salary will not be absent. In the middle of emotional and psychological difficulties, do not add the hassle of money management to your wife’s problems.

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