Know the benefits to compare term life insurance

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Know the benefits to compare term life insurance
BimaKaro.in
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Online term insurance

• In a world filled with uncertainties, it is
  natural to feel concerned about your family and
  dependents' financial future in case of any
  unfortunate event such as death, disability,
  terminal illness, etc. Term insurance is your
  best answer that can help you to plan for the
  rough times, while you are still alive. Term life
  insurance is a form of life insurance that
  provides financial security to the policyholder's
  family in case the insured person encounters any
  toward incident during the policy term. 
• Benefits of term life insurance You need
  to compare term life insurance before buying the
  right policy as there are dozens of insurance
  companies offering term insurance policies and
  choosing one among it is a challenging task. But
  first, do you know why you need a term insurance
  policy for your life? We explain the benefits
  here, that will give you a clear understanding. 

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 Advantages of buying term life insurance
online 
High coverage at affordable premiums A term
insurance policy provides you with a high sum
assured at the minimum cost, compared to any
other insurance plans. This coverage amount
payable to your family in the event of any
unfortunate event.   Customise your
policy Nowadays you can customise the term
policy as per your needs. You can add riders,
decide sum assured, use top-ups etc., along with
your term insurance. Pay attention to each
policy's customisation facilities can be checked
when you compare term life insurance. This is a
significant benefit for individuals who want high
coverage and maximum benefit.  Additional
security A term policy is designed in such a way
that it offers financial support to your family
when they have to encounter income loss, during
your absence. By adding your spouse also to the
same policy, the payout received shall ensure
your family's lifestyle is not hampered in any
way. Also, the rider benefits provide a
comprehensive coverage overall. 
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Tax benefits The term insurance policy's tax
benefits are very beneficial for individual
taxpayers since they can enjoy tax benefits for
the premiums paid and can also claim Rs 1.5 lakhs
a financial year under the section 80C and 80D of
the Income Tax 1961. The family's maturity amount
in case of an unfortunate demise of the
policyholder is also tax-exempt under Section
10(10D) of the Income Tax Act 1961.  Protection
for assets You might have accumulated assets by
taking car loans, home loans or personal loans.
In case anything happens to you your loved ones
might have to bear these loans putting them into
unnecessary stress and strain. In such
situations, the term benefit payout will help
your family clear all the outstanding liabilities
helping them retain the assets and making use of
the remaining amount to take care of their
day-to-day expenses. 
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What features to compare in term policies? 
Although a term insurance policy offers multiple
benefits, all of these can be fully utilised only
when you choose the right plan. With the
internet's penetration and the ability to compare
term life insurance, you need to look at some
essential features in a term policy before taking
the final decision.  Coverage customisation The
best term life insurance plan should offer you
with a large number of options to customise the
sum assured. It must offer a chance to increase
or decrease the coverage amount, during
significant events of your life, as per your
necessity, after purchasing the policy. This
helps you avoid taking a new policy for every
significant event in your life and also ensures
proper planning for your family's financial
future.   Riders When you compare term life
insurance, remember to check if the insurance
provider offers a wide variety of riders to add
to your existing insurance plan. Riders are
add-ons that give extra coverage making it a
wholesome insurance policy, by just paying a
nominal additional premium. In today's fast
world, untoward events may happen, leading to
death or critical illness or disability. Riders
such as accidental death benefit, accidental
disability benefit, serious illness cover,
critical illness benefit etc., are some of the
commonly preferred riders. 
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• Multiple payout options The term policy must
  address all your protection needs taking into
  account the essential needs of life. In the event
  of the death of the policyholder, a term policy
  should offer you the flexibility to choose from
  four different payouts 
• Full Lump Sum Payout The sum assured is payable
  in lump-sum. 
• Lump-Sum Regular Monthly Income Here, half of
  the sum assured is paid as a lump-sum initially,
  while the balance is paid regularly every month
  for the next ten years. 
• Lump-Sum Increasing Monthly Income In this
  option, 50 of the sum assured is payable as
  lump-sum, while the remaining is paid as
  increasing monthly instalments at the rate of 12
  per annum. 
• Lump-Sum Regular Monthly Income till child
  turns 21 This option guarantees half of the sum
  assured is paid as lump-sum while the other half
  is paid in equal monthly instalments till the
  nominated child attains the age of 21. 

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Bimakaro.in

• Claim settlement ratio (CSR) The claim
  settlement ratio is an important parameter that
  shows how reliable an insurance company is in
  settling the claims. It is the total percentage
  of claims paid by the insurance company against
  the policyholder's claim requests during that
  particular financial year. While a low CSR means
  the provider has not maintained a good record of
  settling policyholder claims, a high settlement
  ratio implies the record is good. People can
  trust this company with its settlement process. 
• Bimakaro.in a website that helps you compare term
  life insurance, shortlist them as per your life
  requirements, check out all their features in a
  single window and purchase the right plan for
  you. Its simple interface dramatically aids in
  the comparison of insurance policies and
  understanding the benefit of each. With multiple
  benefits available, plan your family's financial
  future by buying the best term plan on
  Bimakaro.in. 

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Conclusion
To get all these benefits at one stop, head
to www.bimakaro.in to get the Term Insurance you
have been looking for. Bimakaro offers the lowest
premiums and the best customer care teams to help
you get the most out of your money. So, click the
link and head over now! Online term insurance
plans come with a host of benefits. As explained
above, it is time to give equal importance to
term insurance, as we give to health, motor,
travel, or any other insurance form. Concerns
related to trust and transparency are now
addressed with the help of online insurance
aggregators like BimaKaro.in If you are
considering buying online term insurance plan, do
not procrastinate. Just log on to www.BimaKaro.in 
now.