Term insurance is often misunderstood by many people, which leads to misconceptions that prevent people from buying term insurance. In this blog, we’re going to debunk five common myths about term insurance so that you can get to make a well-informed decision.. Whether you’re looking to get term insurance online, check premiums using a term insurance premium calculator, or scouring for the best term insurance plan, it’s important to understand these myths before taking a decision.

Myth 1: Term Insurance is Expensive

Many people think that term insurance is expensive, but the truth is, it’s actually one of the most affordable life insurance options out there. By using a term insurance premium calculator, you can easily find a plan that fits your financial objectives.

Myth 2: Term Insurance Only Benefits the Policyholder’s Family after Death

While term insurance is mainly designed to provide financial security to your family in the event of your untimely death, it does not mean it doesn’t have other benefits. Certain plans, like term insurance with return of premium, offer maturities benefit if you outlive the policy term. It means, you get a hefty return upon investment.

Myth 3: Healthy Individuals Don’t Need Term Insurance

No matter how good your current health is, term insurance is important to protect your family’s future against unexpected events. Sudden deaths happen at all times. People who do not have proper insurance back-up leave their family in financial jeopardy upon their sudden death. Getting term insurance online early can allow you to get the policies at a lower premium and provide long-term security.

Myth 4: Employer-Provided Insurance is Sufficient

Relying just on insurance provided by your employer can be risky because it may not offer adequate coverage. Investing in the best term insurance plan ensures your family remains continuously covered at all times, despite the job changes that could happen.

Myth 5: Term Insurance Doesn’t Offer Flexibility

Contrary to popular perception, term insurance plans offer various add-ons that you can use to adorn your policies. From providing you flexible premium payment modes to choosing the policy term and coverage amount, term insurance online provides plenty of flexibility that you can choose to match it with your financial goals.


Understanding the realities of term insurance can help dispel these rumors and help understand the importance of securing the best term insurance plan for your future. By making use of the term insurance premium calculator and exploring options like term insurance with return of premium, you can make a well-informed decision that ensures comprehensive and continuous coverage for your loved ones. You can always compare term insurance policies from India’s best insurance aggregator website like Fincover, which allow you to compare various parameters and terms involved in the policy. Doing that way would help you to pick the best insurance policy.

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