Many people feel that buying insurance can burn a hole in their pockets. It is not surprising then that insurance penetration in India is the lowest among several countries at less than 4 percent or so. There are many myths about term insurance that people have in general. It is important to have information about what is true and what is a rumour before you believe them. Let us take a look at some of the myths that are certainly not true:

You might come across many more such myths about term insurance, than the ones above. Be sure to sift through what is true and what is not and decide wisely. Term plans like the Generali Central Flexi Online Term Plan provide life cover upto the age of 75 years and come with many benefits such as tax exemption on premium paid and maturity amount, free look-in period of 15 days and a 30 day grace period

You also get discounted premiums if you opt for a higher sum assured. Women can enjoy lower premium rates. There are insurance riders such as accidental benefit rider that you can add to your life cover. Apart from a basic life cover, you can also opt for a fixed or increasing income protection for your family in the event of your death. So, do not blindly believe every myth about life insurance that you come across. Validate the facts and decide for yourself.