Term Insurance Life Cover Available Under Rs. 50 Lakhs
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A term insurance policy can assist a person in building a financial safety net for their loved ones in the event of an unplanned occurrence. You can build that cash cushion with the aid of a term insurance plan for less than Rs. 50 lakh. If the life assured unexpectedly passes away, the nominee under a term insurance policy with an amount assured of Rs. 50 lakh will get a death benefit equivalent to Rs. 50 lakh. You can help protect your family's financial stability while you are away by purchasing an under Rs. 50 lakh term insurance plan.
Best Under Rs. 50 Lakhs Term Insurance Plans
The top 5 term insurance policies with an under Rs. 50 lakh rupee sum assured are shown below. Please be aware that depending on the plan variant selected, the details of the following plans may change.
1. PNB MetLife Mera Term Plan
An online term insurance plan is the PNB MetLife Mera Term plan. This plan is adaptable to the life assured's insurance needs and financial constraints. In the event of the life assured's untimely death, a death benefit is offered, which might assist the family in maintaining a healthy lifestyle in his or her absence. This plan offers life insurance coverage up to age 99. The PNB MetLife Mera Term Plan offers thorough protection at a fair price.
2. HDFC Click 2 Protect Life Plan
The HDFC Click 2 Protect Life plan enables the life assured to be truly financially safeguarded at all times by offering the life assured financial support in accordance with their changing lifestyle and requirements at various stages of life. According to their demands, the life assured under this plan may select one of three plan versions, including Life and Critical Illness Rebalance, Life Protect, and Income Plus. The HDFC Click 2 Protect plan offers entire life insurance or life insurance up to age 99. The life guaranteed will receive a full refund of all premiums paid under this plan's refund of premium option if they live through the whole policy term.
3. Max Life Smart Secure Plus Plan
A distinct type of term insurance plan is the Max Life Smart Secure Plus plan. This strategy aids the life assure in meeting their family's changing financial needs. In tough situations, such the untimely death of the life assured within the policy term, the Max Life Smart Secure Plus plan offers financial protection to the life assured's family.
4. ABSLI Life Shield Plan
A customisable term insurance plan called ABSLI Life Shield offers financial protection to the life assured and their families against life's uncertainties, such as the sudden death of the life assured within the policy's term. There are 8 available plan options with this plan.
5. Aegon iTerm Plan
An extensive, cost-effective protection plan is the Aegon iTerm plan. This plan offers the life assured and his or her loved ones financial security from the risks of life. The versatility of this approach allows one to alter it to suit their specific needs. There are three different plan options for Aegon iTerm.
Conclusion
All in all, you will have a good variety when it comes to choosing the appropriate term insurance plan under Rs. 50 Lakhs for you and your family. Make sure you make a calculative decision to secure your future.
Also Read:
Understand The Survival Benefits Of Term Insurance Plan In India
