You are purchasing term insurance to safeguard your family financially even when you are not around. So, it will be a huge mistake, if your family is not aware of this plan or its usage. Though they will never be able to bear your loss, But knowledge about your term insurance will help them in overcoming all financial debts. At least, they will not be cash strapped and helpless in those tough times. Is your family aware of what you are going to purchase a term insurance policy? If not then you should tell your family about this policy right now and also educate them on how to use the policy if the situation demands. It will help them to get the necessary benefits for the step you are taking today.

Buying a term insurance policy is not for the benefit of your income tax or just to get a low premium insurance purchase, rather it’s showing your character that you are really worried about your family and planning for their future properly.