Buying a short-term plan is not the end of your journey, and we understand that. With OneInsure, experience the new way of purchasing, managing, and getting service support on all types of short-term investment policies.
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Here are some time-tested nuggets of wisdom about short-term plans from the desk of our in-house insurance gurus. Use these points when you compare short-term plans.
If you are not clear about the reasons you are opting for a short-term insurance plan or you don’t have a clear goal in mind, you will tend to stop premium payments because there will be some expense or the other that is more important or more urgent than keeping this plan active. When it comes to short-term insurance, be very specific with the goal.
There are plans out there that do not promise high guarantees. Avoid them. As such this is a short-term investment plan, and opting for plans that do not give higher guarantees is not proper financial planning.
Short-term plans are NOT plans that give returns faster. They are plans where you are paying premiums for a shorter term. The true purpose of short-term plans is to give you the ability to create a healthy corpus (premium terms are flexible) when expenses are relatively lower compared to what they will be later in life. That’s what makes this a great short-term investment option.
Explore the reasoning behind choosing this dynamic plan and check whether it suits your purposes.
Short-term insurance plans allow you to create a corpus of wealth while paying premiums for a short period of time. Moreover, you may choose to pay premiums from among various options, such as 5, 7, or 10 years.
You may opt for a short-term plan specifically to cater to certain milestones in your life or in the lives of your family members. For example, you may choose a 5-15 plan (premiums for 5 years and maturity in 15) when your child is 6 years old to pay for the expenses of his graduation course, which will come up when he is 21 (exactly 15 years later).
These plans, in addition to the advantages mentioned above, usually offer higher guarantees. In tandem with the shorter terms, it makes this a highly-attractive plan. If you are looking for short-term investment plans with high returns, this is the tool for you.
Know what you are buying! Before you make up your mind about your policy, it is recommended to go through our FAQs to understand the different aspects of a short-term insurance policy.
Short-term insurance plans are plans where you are paying premium for short durations. A short-term insurance plan is NOT a plan where the returns are faster – this is a common misconception. In a majority of the cases, 5 years is the minimum premium-paying period.
Short-term insurance plans carry the advantages of death benefit, Income Tax benefit, surrender benefits, additional riders, and loan availing.
You can opt for short-term insurance plans for the following categories of insurance:
Short-term plans give you the ability to create a healthy corpus of wealth when expenses are relatively lower compared to what they will be later in your life. That’s what makes this a great short-term investment option. You may choose to pay premiums for the period of your choice.
Additionally, short-term plans can be opted for if you want to specifically save for certain milestones in your life or in the lives of your family members. For example, you may choose a 5-15 plan (premiums for 5 years and maturity in 15) when your child is 6 years old to pay for the expenses of his graduation course, which will come up when he is 21 (exactly 15 years later).
Some of the most sought-after short term investment options are:
To decide what type of short term investment plans you must go with, consider the following aspects:
Short term investment plans are more desirable because they create compulsion to invest regularly. Besides, they provide higher returns compared to the other short term investment options.
To get a quote on short term investment plans, write to us at email@example.com or call 86-559-86-559.
Some of the frequently-opted-for short term investment plans with high returns include:
If you require further assistance with short term insurance plans, feel free to get in touch with us by dropping us an email at firstname.lastname@example.org or call 86-559-86-559.