Protect Yourself With Term Plan Term insurance policies are one of the best and oldest forms oflife insurance plans. Term insurance provides life cover to the policy holder for a fixedterm period usually , 05-40 years or even up to age 75. Term insurance plans are available at affordable premium rates.
More DetailsMinimum Entry Age : 18 years completedMaximum Entry Age : 65 yearsMaximum Maturity Age : 75 yearsMinimum Sum Assured : Depends upon the company normsPolicy Term : 10 / 15 / 20 / 25 / 30 / 35 / 40 yearsPremium Payment Term : Equal to Policy TermPremium Payment Mode : Yearly, Half Yearly and Monthly
Understanding Term PlanLets consider the following scenario Mr. Mahesh he needs to travel alot. He is married and his wife does notwork and takes care of their kids. Mr. Mahesh owns a plush houseand a car. To ensure that in hisabsence his family continues tolive the same lifestyle as they donow.
How to Choose Term Plan? Check company profile, how good the insurance company is? Compare the terms and conditions of different plans usingonline comparison websites. Check for high claim settlement ratio. Check if your needs are satisfied.
Resources You Can Use OnlineTerm Plan Calculator Various sites provide users with calculators which help you calculatepremium depending upon your requirement. This helps you accurately determine about the policy and helps you planaccordingly.
Benefits of Term Plan Calculator Flexibility to choose protection cover based on your needs. Helps you compare multiple policies simultaneously. Free to use, 24X7 availability.
Customer Review on Term PlanProvidersBajaj Allianz LifeInsurance Company LtdReviewsAegon Religare LifeInsurance ReviewsAviva Life InsuranceReviews
Verdict When ever you are choosing a term plan keep a clear goal ofwhat are your requirement. Having minimum cover is as good as not having one. So try toget maximum cover for yourself just to be further secured. It is always advisable to have multiple term plan from differentprovides to get wide range of benefits.