Friend, Life Insurance gives you total protection to you as well as for your family.
When you go for Term Insurance, on survival, you would not be getting any amount. But in case something happens to the policy holder, the nominee will get sum assured amount in case of term insurance.
As an insurance advisor for LIC, I personally feel that term insurance plan is recommended for people whose job involves lot of risks. Many professionals like software professionals and other go for this plan to provide ample protection for their families. When you go for home loans, term insurance will be very much ideal because you have to pay low premiums only.
In Life insurance, what happens is that you have the benefit of getting good returns on maturity. When you are healthy and young, it is better to take a life insurance and enjoy a peaceful and happy retired life. While going for Life Insurance,it is ideal to go for plans with profits.
Policies like Jeevan Saral provides liquidity as well as tax saving and Jeevan Anand provides life cover through out your life.
I can also provide you a combination of different plans according to your premiums.
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In case you provide me your E-mail ID, I can send you the plan presentation.