• India CSR Awards 2025
  • Guest Posts
Sunday, June 15, 2025
  • Login
India CSR
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
India CSR
No Result
View All Result
Home Corporate Social Responsibility

Guide to Buying a Term Plan When You Have Financial Liabilities

India CSR by India CSR
in Corporate Social Responsibility, News
Reading Time: 4 mins read
India CSR

Image Source: Shutterstock

Share Share Share Share


Moving through different stages of life, we acquire a variety of financial responsibilities. Like most people, you may have envisioned yourself having a house or car by a certain age. These are life goals that require a significant amount of money, and as a result, you may have to take out loans to fulfill them.

Understandably, repaying any financial liability can be challenging when managing other regular expenses in life. You may wonder about the need for an insurance plan, such as critical illness insurance in such a situation. However, protecting your own life is a crucial part of your financial plan.

While repaying outstanding debts is necessary to live a relaxed life, you must not neglect other essential investment prospects because of it. Given the current circumstances, the need for financial protection has become more apparent than before. You can never be too careful when it comes to securing the future of your loved ones.

Here are a few things to remember if you are buying a term plan while dealing with financial liabilities:

Assess Your Requirements

The financial profile of each individual looks different in many respects. The kind of insurance plan that you require depends heavily on the factors that affect it. For instance, for an individual with financial liabilities and a pre-existing medical condition, critical illness insurance may provide more benefits.

When buying an insurance plan, such as critical illness insurance, it is essential to keep track of your finances. According to the nature of your expenses, you can map a more efficient financial plan for your family.

It is almost impossible to predict when a financial emergency will occur. Therefore, it is in your best interest to keep your investments in order beforehand. You can check the duration of your liabilities and align them with life goals to get a clearer picture of your needs.

Get Adequate Sum Assured

When you buy critical illness insurance or a simple term plan, the sum assured plays a substantial role. The whole purpose of creating a financial support system is to ensure that your family members will never face money problems in your absence. If the sum assured from your critical illness plan is not enough, it may fail to serve its purpose.

By reviewing your requirements carefully, you can estimate the adequate sum assured needed to support your family in times of crisis. In case they have to pay EMIs in the absence of an income source, the benefit from the insurance plan should be sufficient.

As the policyholder, it is vital to check if your critical illness insurance duration matches your liabilities. You do not want your loved ones to take up the burden of repaying loans and managing the cost of living without proper resources.

India CSR
Image Source: Shutterstock


Possibility of Medical Emergencies

Another important factor to consider is the occurrence of medical emergencies. We are surrounded by several threats to our health daily. The increased vulnerability to lifestyle diseases paired with healthcare’s alarming costs should not be avoided when putting together a financial backup plan.

For that purpose, critical illness insurance may be the most appropriate instrument for you. Different insurers provide coverage for a wide range of life-threatening diseases under a critical illness plan.

The healthcare industry in India is projected to reach $372 bn by 2022. As healthcare quality is advancing with technological developments, it makes sense to secure critical illness insurance to get comprehensive coverage. It will ensure that in case of a medical emergency, you can afford proper healthcare. 

Reduce Tax Liabilities

The tax relief provided by the Government can be a blessing. In addition to that, reducing taxable income also allows you to use the money better for other purposes, such as repaying loans.

Insurance products can be considered a useful tax-saving tool. Under the applicable sections of the Income Tax Act, 1961, you can avail of tax-benefits for premiums paid towards life insurance. The eligible tax deductions depend on the types of life insurance policies.

Add Useful Riders

If you think about it, you need financial protection for a variety of things in life. As the cost of living is rising, it can be complicated to meet all the demands with your limited savings. For instance, buying critical illness insurance and a term plan may be heavier on your pocket.

If you are trying to optimize the benefits from your insurance plan, riders can be an ideal choice. Insurance providers offer riders as an add-on to the base policy, helping policyholders to customize the policy to their expectations. You can get the benefits of critical illness insurance and a term plan within one plan by adding the relevant riders.

Furthermore, reputable insurers now provide an option to purchase a COVID-19 rider with their term plan. Make sure you are aware of the availability of riders when buying a term plan.

Tags: Critical Illness InsuranceTerm PlanTypes of Life Insurance Policies

India CSR offers strategic corporate outreach opportunities to amplify your brand’s CSR, Sustainability, and ESG success stories.

📩 Contact us at: biz@indiacsr.in

Let’s collaborate to amplify your brand’s impact in the CSR and ESG ecosystem.

ADVERTISEMENT
India CSR

India CSR

India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

Related Posts

Dalmia Bharat Sugar and Industries Limited
Corporate Social Responsibility

Dalmia Bharat Sugar CSR Spending Report of Rs 7.25 Cr for FY25

10 hours ago
0
HDFC Life
Corporate Social Responsibility

CSR: HDFC Life Eases Claim Process for Ahmedabad Tragedy Victims’ Families

12 hours ago
0
REC Limited Organizes Blood Donation Camp on World Blood Donor Day
Corporate Social Responsibility

CSR: REC Organizes Blood Donation Camp on World Blood Donor Day

12 hours ago
0
CSR: Avaada Foundation Boosts Healthcare in Kathua, J&K with Ambulance Donation
Corporate Social Responsibility

CSR: Avaada Foundation Boosts Healthcare in Kathua, J&K with Ambulance Donation

1 day ago
0
Father’s Day: Dettol Highlights Role of Dads with #DadsCanToo Initiative
News

Father’s Day: Dettol Highlights Role of Dads with #DadsCanToo Initiative

2 days ago
0
CSR: Foxhog Ventures to Invest $3.5M in IIT Kanpur Startups
Corporate Social Responsibility

CSR: Foxhog Ventures to Invest $3.5M in IIT Kanpur Startups

2 days ago
0
CSR: Ambuja Cements Honours Emerging Sports Stars at ITI Darlaghat
Corporate Social Responsibility

CSR: Ambuja Cements Honours Emerging Sports Stars at ITI Darlaghat

2 days ago
0
Air India Ahmedabad Plane Crash
News

Air India Ahmedabad Plane Crash: 15 Shocking Facts and Official Statements You Need to Know

2 days ago
0
India CSR
News

Sunjay Kapur – Jindal’s Independent Director Passes Away at 53

3 days ago
0
Load More
Next Post
India CSR

CSR should have a far reaching impact and should go beyond giving a one-time benefit: Piyush Goyal

India CSR

Hindustan Zinc wins prestigious ICC Environment Excellence Award

India CSR Awards India CSR Awards India CSR Awards
ADVERTISEMENT

LATEST NEWS

Dalmia Bharat Sugar FY2025 Results: Rs 3,820 Cr Revenue, Rs 387 Cr Profit, 42% YoY Growth

Dalmia Bharat Sugar CSR Spending Report of Rs 7.25 Cr for FY25

CSR: HDFC Life Eases Claim Process for Ahmedabad Tragedy Victims’ Families

CSR: REC Organizes Blood Donation Camp on World Blood Donor Day

CSR: Avaada Foundation Boosts Healthcare in Kathua, J&K with Ambulance Donation

Father’s Day: Dettol Highlights Role of Dads with #DadsCanToo Initiative

HZL HZL HZL
ADVERTISEMENT

TOP NEWS

Dalmia Bharat Sugar CSR Spending Report of Rs 7.25 Cr for FY25

Vodafone Idea Brings 5G to Bengaluru with Samsung Tech

Herbalife, IIT Madras Unite to Champion Wellness at Paradox Fest 2025

National Seminar in Patna to Explore Bihar’s Role in Eastern India’s Development

Sunjay Kapur – Jindal’s Independent Director Passes Away at 53

Courtyard by Marriott Aravali Goes Green with 368 KWp Solar Installation

Load More

Advertisement

Image Slider
content writing services Guest Post Top 5 Reasons to have Sponsored Posts at India CSR – India’s Largest CSR Media stem learning R2V2 Technologies Private Limited

Interviews

Himanshu Nivsarkar, Senior Executive Vice President and Head of CSR & ESG at Kotak Mahindra Bank
Interviews

Driving Sustainable Impact: An Interview with Himanshu Nivsarkar, Kotak Mahindra Bank

by India CSR
May 22, 2025
0

By Rusen Kumar NEW DELHI (India CSR): Himanshu Nivsarkar, Senior Executive Vice President and Head of CSR & ESG at Kotak...

Read moreDetails
Balamurugan Thevar, CSR Head at Shriram Finance

Empowering Women Drivers: An Interview with Balamurugan Thevar, CSR Head at Shriram Finance

May 20, 2025
0
N E Sridhar, the Chief Sustainability Officer at Titan Company Ltd.

Empowering Rural Craft Entrepreneurs: An Interview with N E Sridhar, Titan Company

May 15, 2025
0
Geetaj Channana, the Head of Corporate Strategy at Vivo India

Empowering Young Innovators Across India: An Interview with Geetaj Channana, the Head of Corporate Strategy at Vivo India

April 25, 2025
0
Load More
Facebook Twitter Youtube LinkedIn Instagram
India CSR Logo

India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium services, we invite you to partner with us.

Follow us on social media:


Dear Valued Reader

India CSR is a free media platform that provides up-to-date information on CSR, Sustainability, ESG, and SDGs. They need reader support to continue delivering honest news. Donations of any amount are appreciated.

Help save India CSR.

Donate Now

donate at indiacsr

  • About India CSR
  • Team
  • India CSR Awards 2025
  • Partnership
  • Guest Posts
  • Services
  • Content Writing Services
  • Business Information
  • Contact
  • Privacy Policy
  • Terms of Use
  • Donate

Copyright © 2025 - India CSR | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers

Copyright © 2025 - India CSR | All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.