What are the Features of Term Insurance Plans? Is it Worth Buying Term Plan with Return of Premium?

Throughout your life, you strive to work hard and provide financial security for your family. However, unforeseen circumstances can disrupt these plans. What if something unexpected were to happen to you? Who would take care of your family’s financial needs in your absence? While the future is uncertain, taking proactive steps today can help secure their tomorrow. By investing in a comprehensive life insurance policy, you can ensure that your loved ones are financially protected and provided for, even if you are no longer there. Life insurance offers peace of mind, knowing that your family will have the necessary funds to cover living expenses, educational costs, outstanding debts, and other financial obligations. It is a powerful tool that allows you to leave a lasting legacy of financial stability and support for those who matter most. Don’t leave your family’s future to chance; take the necessary steps today to secure their financial well-being, no matter what tomorrow brings.

Term insurance plans offer several key features that make them an attractive choice for life insurance coverage:

Cost-Effectiveness: Term plans are generally more affordable compared to other types of life insurance policies. Since they do not include an investment component, the premiums for term insurance plans are lower, allowing individuals to obtain substantial coverage at a nominal cost.

Flexible Premium Payment Tenure: Term plans offer the flexibility to choose the premium payment tenure. Policyholders can opt to pay premiums only until their retirement age or a specific duration, while still being covered for a longer period. This allows individuals to align premium payments with their working years, providing financial flexibility.

Payout Options: Term insurance plans provide flexibility in payout options. Policyholders can choose to receive the death benefit as a lump sum amount or as a combination of a lump sum and monthly income. This allows the beneficiaries to manage the funds based on their financial knowledge and requirements, ensuring their long-term financial security.

Additional Riders: Term insurance plans often offer riders or add-on benefits that can be included for enhanced coverage. Riders such as critical illness cover, accidental death benefit, or waiver of term insurance premium can be added to the base policy, providing additional protection against specific risks or events.

Customizable Policy Terms: Term insurance plans allow individuals to select the coverage term that suits their needs. Policy terms can range from a few years to several decades, depending on individual requirements and financial goals. This flexibility allows policyholders to align coverage with specific milestones, such as the duration of a mortgage or the education of children.

Convertibility Option: Some term plans may include a convertibility option, allowing policyholders to convert their term policy into a permanent life insurance policy without the need for medical underwriting. This feature provides flexibility to adapt to changing life circumstances or evolving insurance needs.

Overall, term insurance plans offer cost-effective coverage, flexible premium payment options, customizable policy terms, and the ability to choose payout options that best suit the needs of the policyholder’s beneficiaries. These features make term insurance an appealing choice for individuals seeking affordable and straightforward life insurance protection.

Should you Buy Term Insurance with the Return of Premium?

The main difference between term plans with return of premium and regular pure term plans is that the former involves returning the premiums paid at maturity, making them more expensive. In contrast, pure term plans typically offer longer coverage terms. Therefore, customers seeking extended coverage may find pure term plans to be a more suitable option. Ultimately, the primary purpose of purchasing a term insurance plan is to secure protection for one’s life.

Mistakes to Avoid in Online Flight Booking

Most people associate travel and vacation with huge expenses. But you can have a rejuvenating trip that is budget-friendly at the same time. With prior planning and some clever tricks, you can travel without exhausting your savings. You must be wondering how it’s possible when flight tickets are so expensive! You can save on flight bookings by avoiding some costly errors that most people commit. Here are things you should not do when you book air tickets in the future.

Common errors people make when booking flights online

1. Booking via third-party apps/ sites

Third-party travel sites always sell tickets at higher prices. How else will they make profits? Instead of relying on such sites, book directly from the official website of a leading airline. It will naturally cost you less.

2. Not checking the prices of flights on different dates

When your budget is low, your dates must be flexible. You will be startled to see the price differences if you check the rates on multiple dates. That’s because flight tickets tend to be expensive on weekends and in festive seasons. So, board your flight in the middle of the week to pay less. You may also skip booking your seat beforehand as charges apply. A seat will automatically be allotted to you at the time of your flight check-in.

3. Not comparing the fares on multiple sites

Often in a hurry, people end up booking flight tickets after checking the website of just one airline. Another well-known airline might be offering cheaper tickets on the same date. Hence, you should always compare at least 3-4 reliable sites and then choose the cheapest one.

4. Not booking in advance

Last-minute bookings are always costly. And if you have already applied for leave and booked your hotels, you’ll be left with no alternative but to book the flights. However, if you book at least two months before the scheduled departure of the flight, the fare will be reasonable. This simple trick will help you save your hard-earned money.

5. Not utilizing discounts and e-Credits

Airlines often send special coupon codes to encourage their customers to book flight tickets. They send these codes to your email and phone number. You should grab such deals and apply the code while making the payment. The price of your ticket will instantly go down. Airlines also give e-Credits to passengers who frequently fly with them. These e-Credits have a validity period and if you don’t utilize them on time, they expire. So, make sure you refer to the ‘Credits’ section before making the payment.

The Bottom Line

Traveling occasionally is compulsory to unwind and relax. So, don’t let the sky-high prices of tickets scare you. Plan early, quit making the above-mentioned mistakes, and you will be able to make great savings on online flight ticket booking. Once you learn how to plan budget trips, you, too, will be able to explore new destinations every year.

Popular Markets in Delhi to Shop for Wedding Essentials on a Budget

A wedding means fun, and excitement but also multiple expenses. From booking the venue to food and décor, a range of costs are involved in a wedding. So, it’s a good idea to save wherever possible. If you agree and are going to arrange a wedding, you should check out the popular markets in Delhi where you can buy various wedding essentials at reasonable prices. Just catch a Port Blair to Delhi flight and visit these top markets in Delhi. Here’s a look. 

Chandni Chowk

It is among the oldest markets in the city and abounds with shops offering bridal wear and accessories at budget-friendly rates. Some of the shops that you must visit here are Rati Ram Ram Vinod, Surya Sarees, and Om Prakash Jawahar Lal. For jewellery shopping in particular, check out Multan Enamel Mart Jewellers, Ram Gopal & Sons, and Shri Ram Hari Ram. Just remember that Chandni Chowk remains closed on Sundays. 

Chawri Bazaar

You also need to print beautiful wedding cards, right? For that, your ideal destination is this bazaar in Old Delhi. Nearly 500 shops in this market have been specifically selling wedding cards for years. Whether you want a unique design or something traditional, you can get your dream card printed perfectly at one of these shops. Consider a shop that provides personal attention to your order. Chawri Bazaar, too, doesn’t open on Sundays. 

Lajpat Nagar

If you plan to buy a variety of wedding essentials from one market, head straight to Lajpat Nagar after deboarding your Port Blair to Delhi flight. Whether you wish to shop for sarees, lehengas, suits, jewellery, shoes, or other accessories, you can find them all here. What’s best, you can shop for both local and designer, small and big shops.

To buy suits and lehengas, you can check out Shakuntalam and Roshan’s. For shoes, you can visit Stelatoes. For chooras, you can drop by Babu Churi Wala (the basement section) since he offers a variety of exquisite bangles in several styles and colours. He even personalised chooras to go with the chosen wedding wear. Like the other two markets, Lajpat Nagar also remains closed on Sundays. 

Karol Bagh

Looking for a market for ravishing wedding jewellery, lehengas, and sarees for every budget? Karol Bagh is the answer. This market too has several high-end stores and designer shops for wedding essentials. Famous shops to check out here are Meenakshi Creations, Frontier Bazaar, Satya Paul Store, and Meena Bazaar. Specifically for jewellery shopping, consider visiting Hari Shankar Sunil Kumar Jewelers, Janak’s, Beli Ram, and PP Jewellers. The market doesn’t open on Mondays. 

Kinari Bazaar

If you want pretty borders and laces to adorn the bride’s lehenga or saree, you can get spectacular ones here. For that, well-known shops are Gupta Zari Emporium, Maharaja Traders, Aggarwal Zari Emporium, and Fancy Lace Collection. They usually offer various discounts.

These bazaars are ideal for comprehensive wedding shopping on a budget. Explore them and bag the choicest items before you take your Delhi to Port Blair flight.