Why buying a Term Plan even at 40 is a great idea!

If you are no longer around… how will your family cope with the bills?

9:13 min read

If you are no longer around… how will your family cope with the bills?

For most people in India, the 40s and 50s are the most financially productive and remunerative periods during their working life. You are comfortably placed in your profession, the basic necessities are being taken care of, your children are near completion of school, looking forward to further education and EMIs are being paid on time. Life looks settled. However, imagine if you are no longer there… how will your family cope?


Let's face it, while we do our best to ensure that our family has all the material comforts, most of these plans rally around 'you' as an individual life. But Life is Uncertain. 


Luckily, it is never too late to start planning for your family's future. Plus in today's day and age, with all the medical advancements you can say that life only begins at 40. What better example than the famous Bollywood actor, Boman Irani.


When he was 40, he worked at his family's snacks store in Mumbai. He started photography to satisfy his creative urges and later took it up professionally. Eventually, after spending time behind the lens, he got an opportunity to get in front of it. He joined theatre and acted in several plays. It was only at the age of 43 that he got a break through 'Munnabhai MBBS'.


The rest, as we know, is history! Since then he has proved himself as a great actor. All of this, after turning 40!


Imagine if he considered the 40s as a time to let things drift away? We wouldn't have probably witnessed such a fine actor. So if you are in your 40s, and thinking that the good years of life have passed you by, we say 'You have miles to go before you sleep'.


In case you are no longer there, what will happen to your child's education? Your loans and debts? Your spouses' retirement years?


Luckily, a Term Plan can help you take care of all these needs, all in one


 Goals  How a Term Plan Helps
 Your Child's education  and other financial  milestones  A term plan can help you safeguard your child's education or other financial goals like their marriage,  buying a house, etc., by paying a lump sum at your death. The amount can be utilized for any of these  expenses.
 Loans & liabilities  Through a term plan, your family would have enough money to pay off the loans and debts.
 Your Spouse's  Retirement  In case you are no longer there, a term plan provides a cover for your spouse to fall back on during his/  her retirement years.

To sum it up, if life falls in any of the following stages, you should consider a Term Plan for protection:

  • If your kids are financially dependent on you
  • If you're the sole bread winner of the family
  • If you have to work post retirement
  • If your wife is dependent on your pension
  • If you have any outstanding debts or loans


Create a quick equote today with Max Life Online Term Plan Plus to secure your family's future.


MAX LIFE ONLINE TERM PLAN PLUS (UIN - 104N078V03). A Non-Participating, Non-Linked Term Insurance Plan. 
Life Insurance coverage is available in this product. This plan is a pure term insurance plan that provides only death benefit and no maturity or surrender benefit. Insurance is a subject matter of the solicitation.

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