Choose from Best 10 Term Insurance Policies to make Your Life Better

Term Insurance policy shapes your financial planning in a perfect way Term Insurance policy shapes your financial planning in a perfect way. The missing links between your financial planning and risk management can be easily filled with a term insurance policy. With the increasing volume of the customer base in term insurance policy, the number of term insurance policies and companies have also increased to meet the requirement. Because of the availability of different policies and companies to choose from, choosing the best term insurance policy for you becomes difficult because every policy offers varied benefits and payout. So through this article, we will try to look at 10 top term insurance policy that will actually make your life better by providing financial protection for your loved ones in your absence. All term plans provide tax benefits under Income Tax Act,1961.

Bajaj Allianz isecure more It is an online term insurance policy offered by Bajaj Allianz which has the benefit of increasing coverage after each policy anniversary.   Key features After each policy anniversary, you get a 5% increase in your sum assured, the limit of which is twice the coverage amount Availability of adding your spouse in the same policy (if you have taken it as single life coverage) Discount on premium on choosing high coverage amount Available as single or joint life term insurance Option to take the death benefit in installment Option to change your premium frequency at term anniversary during the policy term

HDFC LIFE CLICK2PROTECT A very economical and comprehensive term insurance policy by HDFC, which has very unique features to fit into your requirements. In case of your unfortunate death, this policy provides payment in lump sum   Key features Extra life option which provides additional sum with sum assured as death benefit in case of death due to accident Income option which provides a death benefit in the form of monthly income for 15 years. Income plus option which provides 0.5% of the sum assured as monthly income for 10 years in addition with 100% payment of the sum assured on death benefit. Option to increase your sum assured at important stages of life like marriage and turning into a parent. Option to reduce your sum assured after the insured person has attained the age of 45 years.

Max Life Online Term Plan Plus This online term insurance policy gives you maximum coverage at minimum premium. It is a pure term insurance plan which gives you the option to choose form lump sum payment, lump sum payment with monthly income and lump sum payment with increasing monthly income.   Key Features Hassle free procedure Discount on the high sum assured Multiple modes to pay premium Availability of plan enhancement through riders like accidental death benefit and waiver premium Increasing monthly income for 10 years in which death benefit in the form of monthly income increases by at the rate of 10% p.a.

Reliance Life Online Term Plan It is a plan which has been made by keeping the need of today’s generation. Easy procedure with high coverage and the availability of medical test at your home makes this plan unique. Key Features Simple application process Large cover through low premiums Simple medical examination process available at your home Low premiums for healthy lifestyle

Exide Life My Term Insurance Plan This term plan gives financial stability for your family with an affordable way to purchase life insurance. It offers you family income benefit option and terminal illness benefit.   Key Features Discount on premium for female lives Availability of terminal illness benefit which gives you 25% of the lump sum coverage if diagnosed with terminal illness. Availability of Family income benefit Discount on premium for a high sum assured

TATA AIA iRaksha Supreme Plan This plan offers you cover for life at a very attractive and economical price which gives you the choice of premium payment. Key Features Flexibility to choose premium payment from regular pay, single pay and limited pay Discount on premium for sum assured of Rs.75 lakh and above. Lower premium rates for female lives Reward for healthy lifestyle in the form of preferential premium rates for non-smokers

AVIVA i-Life Plan It is a pure protection plan which is available to be purchased online on the company’s website. It is available to be purchased at a very nominal cost.   Key Features 5% discount on premium rates for female Cost of medical examination and special test, at the time of purchase of the policy, is paid by the company Additional discount on high coverage amount Option to choose the frequency of premium payment

ICICI Pru iProtect Smart This term plan offers you coverage against life with different optional benefit which increases the area of coverage and provides a “value for money” deal for the customers.   Key Features Wide area of coverage as it provides cover for death, terminal illness and disability Availability to add accidental death and critical illness benefit Special premium rates for women Easy application procedure Increase coverage at important stages of your life like marriage and turning into parents (birth and legal adoption) Select premium payment term

PNB Metlife Mera Term Plan It is a pure protection term plan which gives you various different additional benefits and makes this plan available for you at an affordable rate.   Key Features 4 Different options of payout Coverage enhancement at special occasions of life like marriage and turning into a parent Availability to add your spouse in the same policy Coverage till the age of 75 years. Additional protections available.

Birla Sunlife Protect @ease Term Plan It is an online term insurance policy which can be purchased through the company’s website. It provides flexible premium paying terms with options to choose benefits according to your needs.   Key Features Availability of level term insurance and increasing term insurance to choose. Flexibility in premium paying term Option of receiving the sum assured in the form of monthly income Easy to buy

Choosing the right term insurance policy assures that you get maximum benefit out of it. Different people have different conditions and requirements based on which they should compare term insurance policy and choose the best.