BHAVESHKESWANI
KF Expert
term insurance (or) medical insurance and accident policy ? which is good option ?
term insurance
- Thread starter BHAVESHKESWANI
- Start date
Sailesh Ivaturi
KF Rookie
Both have its own prospects.
In term insurance, we pay premium for a period of time i.e for a term and it only provides financial security (total sum assured) on a persons untimely death within the term, whereas in medical insurance, the premium is slightly higher in comparison to term insurance and it covers all the medical expenses with certain limitations, discuss with your agent for more details. In conclusion, it depends on your need do you need financial assistance on policyholders untimely death or get all your medical bills covered in time of policyholders hospitalisation.
In term insurance, we pay premium for a period of time i.e for a term and it only provides financial security (total sum assured) on a persons untimely death within the term, whereas in medical insurance, the premium is slightly higher in comparison to term insurance and it covers all the medical expenses with certain limitations, discuss with your agent for more details. In conclusion, it depends on your need do you need financial assistance on policyholders untimely death or get all your medical bills covered in time of policyholders hospitalisation.
sumitgangvani
KF Rookie
term plan will only benefit your family financially in your permanent absence AND medical with accident policy will secure you and your family from unknown circumstances, which may not pressure to be burden as hospital bills on your income. God Bless you.
Choosing between Whole Life Insurance and Term Insurance depends on your financial goals and coverage needs.
Policybazaar is the best platform to purchase Policybazaar Term Insurance Plans due to its comprehensive comparison tools, 24/7 customer support, and transparency. It allows users to compare premiums, riders, and features across multiple insurers, ensuring you make an informed decision easily.
- Term Insurance is a cost-effective plan that provides coverage for a fixed term (e.g., 10, 20, 30 years). If the policyholder passes away during this term, the beneficiaries receive a death benefit. It’s ideal for young earners or those seeking high coverage at low premiums.
- Whole Life Insurance offers lifelong coverage and includes a savings component that builds cash value over time. While it’s more expensive, it’s suitable for those seeking long-term financial planning and estate creation.
Policybazaar is the best platform to purchase Policybazaar Term Insurance Plans due to its comprehensive comparison tools, 24/7 customer support, and transparency. It allows users to compare premiums, riders, and features across multiple insurers, ensuring you make an informed decision easily.
Akshita.sri
KF Ace
It really depends on what you're looking to protect!
Term insurance is like your safety net for life's big "what ifs," making sure your family is financially secure if something happens to you.
On the other hand, medical insurance and an accident policy are more like shields for those unexpected hospital bills or accidents.
Ideally, a mix of both is the winning combo—term insurance for long-term protection and medical/accident policies for day-to-day safety.
You can easily check out the policybazaar term insurance page as they really helped me with my term plan needs!!
zacobite
KF Mentor
its not an option.. its a necessity.. all 3..get help and get all 3 basis your personal financial profile
