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Term Insurance Plans

The most important insurance plan is term insurance plan.  Term insurance is the oldest form of insurance and is the least expensive plan to cover the risk of death.  term plan is a no return plan just like your mediclaim or car insurance cover. If claim comes with in the insured period, the nominee will get the full sum assured or otherwise there is no maturity value or cash value of the plan. It provides coverage for a specific period or term say 10 to 30 years. It is the simple type of life insurance and easiest to understand. You need not have to calculate the charges and returns in this plan, as you know from the day one that premium paid by you is not going to come back. One should not make the mistake of taking term insurance premium as an expense but treat this as must for the protection and security of your loved ones. You need to compare the premiums before selecting the right company and also have to go through the exclusions in the plan. This will help you in selecting the right term plan. Looking at all the facts available, term insurance is the obvious choice for life insurance.
 
Term policy is now available both in off line and online mode. HDFC click2protect, ICICI iprotect, Aviva ilife and Kotak epreferred are the online term plans. LIC Amulya Jeevan, Aegon religare term plan, SBI smart shield, Bajaj Allianz Pure term plans  are few offline terms available in the market. One should look at the best term insurance plan in India depending on age, income and life insurance need. The Online premiums are cheaper than offline term plans and are quite easy to avail also. In the recent past Online term plans have gained immense popularity due to their easy access. 
 
Nowadays most of the Insurance Companies  are offering online term plans still it is quite a task to make the right choice. That is why mostly customers resort to consulting their agent as they either do not have access to Internet or are not comfortable about making online payments. The agents do not give proper advice to the clients and run behind commissions. It is more important before buying a life insurance plan that one should know how much insurance cover you require. Also, you should know and be aware of the features of the insurance plan. Neither Agent explains the plan in details to the customer nor have investors enough time to assess the plan. Customers should visit apnapaisa.com to get the right information before selecting the right product. There are basically three types of insurance plans available in the market, Traditional or Conventional Plans, Unit Linked Insurance Plans  and Term Insurance Plans.
 
Traditional plans are mostly saving products and give guarantee of sum assured and also give bonus every year depending on the profitability of the company. The investment options are with the insurer and they take a call where to invest the gain knowledge on the plans available in the market. ULIP plans are market related and risk of investment is born by the policyholders. Policyholders have the right to choose the investment option available in the plan i.e. from 100 % in debt to 100% in equity.  ULIP products are more complex than Traditional plans.

Term Insurance: Premium

To help you analyze premiums of the various Life Insurance companies in India, we have created the  Term Plan comparison tool. Simply enter your profile details (Age, Gender, Whether Tobacco user) and the amount of Life Cover you seek. We will find out the premiums of all Term Plans offered by Life Insurance companies in India.

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