In India, What Are The Best Term Insurance Plans?

A term insurance policy is a life insurance plan which can be taken by an individual on his or her own life. A specific tenure and sum assured are chosen under the policy. If the life insured dies during the term of the plan, the sum assured selected is paid by the insurance company to the deceased’s family. This lump sum benefit helps the family deal with their financial loss.

Top Term Insurance Plans In India

Since term insurance plans are so essential and beneficial, all life insurance companies offer them. Among dozens of term insurance plans available in the market, here are some of the top policies which you can consider for your coverage needs –

TATA AIA Life Insurance Sampoorna Raksha Plan

This is a term insurance plan which doubles up as a whole life plan as the plan allows you to avail coverage up to 100 years. The salient features of the plan are as follows –

• There are four coverage benefits under the policy
• Optional riders are available which help in increasing the scope of coverage
• You can pay the premiums throughout the policy term or for a limited period

ICICI Pru iProtect Smart Plan

This policy allows coverage up to 99 years of age ensuring that you are insured for a longer period. The key features of the plan are as follows –

• There is an optional critical illness rider which covers 34 critical illnesses and provides a comprehensive scope of cover
• There are four types of death benefit pay-out options which pays the benefit in a lump sum, in instalments or in a combination of both
• There is an inbuilt terminal illness benefit under the plan
• Four coverage options are also available under the policy

HDFC Life Click 2 Protect 3D Insurance Plan

This is a term insurance plan which allows different types of coverage options so that you can choose the coverage that you want. The key features of the policy are as follows –

• There are nine coverage options which suit the coverage need of everyone
• Coverage can be taken for whole life
• The sum assured can be increased at marriage or childbirth

Bharti AXA Life Flexi Term Plan

This is a flexible term plan which has the following key features and benefits –

• Coverage is available up to 85 years of age
• Critical illness cover is also available under the plan as an optional rider
• There are three pay-out options to ensure that your family receives the benefit in the most suitable way

AEGON Life iTerm Insurance Plan

This is a very popular plan offered by AEGON Life Insurance Company which offers a host of benefits to policyholders. The key benefits of the plan are as follows –

• Coverage is available until 100 years of age
• There are three coverage options under the policy providing a good scope of cover
• Females and non-smokers can enjoy lower premium rates

Conclusion

A term insurance policy is a must for protecting yourself and your family against unforeseen misfortunes. So, understand the nitty-gritty of the plan and invest in one for financial security.

Also Read: How To Sell Term Life Insurance