Comparison of Best Online Term Plans in India

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Comparison of Best Online Term Plans in India
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• Term insurance can be defined as a type of
  insurance that is availed for a certain period of
  time or a fixed term (number of years). The basic
  differentiating feature of term insurance is that
  unlike other types of life insurance policies, a
  term insurance policy is less expensive since it
  does not have any cash value. The policy comes
  useful only if the policyholder dies within the
  timeframe during which the term insurance policy
  is in force.

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• Term insurance policies are offered by almost all
  major insurance providers and these come for
  various terms like 10 years, 20 years, 30 years
  etc. The most significant point about term
  insurance policies is that most of these policies
  have a built-in feature to get converted to
  permanent life insurance policies irrespective of
  the state of health of the term insurance
  policyholder.

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• Term insurance is generally overlooked in
  comparison to other insurance products. The main
  reason for this is the belief that term insurance
  plans do not offer significant returns or any
  additional benefits besides the Sum Assured on
  the policyholders demise.
• However, term insurance plans are an excellent
  way to build a financial safety net. This is
  especially true in todays world, as such a plan
  makes provision for the financial security of the
  policyholders dependents in the event of his
  demise.

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• Term plans are also a very cost-effective way to
  build up a financial safety cushion in case of
  the policyholders death.
• Online Term Insurance Plans In India are
  generally a part of other insurance products.
  These products have other benefits that come
  along with the plan, resulting in a higher
  premium amount. Instead of opting for a plan with
  a host of other add-ons and end up paying a high
  premium, opt for a term insurance plan with a
  fixed, affordable premium for almost the same
  features.

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• Term plans also fit everyones needs. A term
  insurance plan is one where the benefit received
  is much more than the sum invested, resulting in
  higher returns without the hassle of having to
  manage these funds.
• Buying the policy To be able to buy a term
  insurance policy you dont need to put aside tens
  of thousands of rupees every year. Many of the
  insurance policies can offer you a sum assured of
  up to Rs. 1 crore for a premium that could be as
  little as about Rs. 10,000 per annum (These are
  indicative figures. The actual premiums may
  differ depending on the sum assured and the
  insurance providers).

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• Keeping the policy Just like any other insurance
  policy, you pay the premium towards these
  policies at a frequency chosen by you. These
  premiums can be paid every month, every quarter,
  every 6 months or once a year. They can also be
  paid as a lump sum instead of being paid at
  regular intervals.
• Redeeming the benefits Term insurance plans
  dont typically come with any maturity benefits,
  except for term insurance with. Their main
  objective is to provide life insurance cover and
  that is exactly what they do. In case the policy
  holder passes away, the person who is named as
  the beneficiary of the policy will receive the
  sum assured.

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