In this post, let us shortlist and understand some of the best Online Term #Insurance Plans in India. These best Term Life Insurance plans can be purchased through online.
Term insurance is the simplest and most fundamental insurance product. Term insurance plans are designed to ensure that in the event of the policyholder’s death, the family gets the sum assured (the cover amount). Term plan provides risk coverage for a certain period of time (#policy term/duration). If the insured dies during the time period specified in the policy and the policy is active – or in force – then a death benefit will be paid. It is the cheapest form of Life insurance in terms of premium.
All the above premium amounts are for 30 year old male, non-smoker, for Rs 1 Crore Sum Assured. Optional Riders like Accident Death Benefit/Critical Illness are not considered. Premium Amount is for yearly mode.
ICICI Prudential is the second best (after LIC) as per the latest Claim Settlement data, with 94.10% of the claims received were paid/settled. ICICI Prudential’s online term plan is known as ‘iProtect.’ The premium amounts of this term insurance plan are very reasonable and are competitively priced. This term insurance plan also provides the optional Accidental Death Benefit (ADB) rider. The maximum Sum Assured that is offered under ADB Rs 50 Lakh.
Life is full of ifs and buts. None of us knows what might happen even the next minute. If your child, life partner or your parent(s) depend on your income then you need to have Life Insurance plan.