what are the best term insurance plan

Best Term Insurance Plans

Given below are some of the best term insurance plans. You can choose any of these as per your requirement-

1. HDFC Click2Protect 3D Term Insurance

  • Provides financial assistance at low premium.
  • Various types of cover options are available.
  • Option to choose death benefit as lump sum or monthly income.
  • Attractive premium rates to non-tobacco users.
  • The minimum age for this term insurance is 18 years and the maximum age is 65 years.
  • The maturity age is fixed at 75 years i.e. the insurance cover is provided to you for 75 years.
  • The policy term of this term insurance ranges from 10 years to 40 years .
  • The minimum sum insured in this time insurance is Rs 25,00,000 and there is no limit on the maximum sum insured available through it.
  • Multiple premium payment options.
  • Premium can be chosen as yearly, half-yearly, quarterly, monthly.
  • In this policy, you have to pay a minimum premium of Rs 3000. There is no limit on the maximum premium amount. You can choose it according to your financial capacity.
  • The customer must have a fixed source of income to buy this policy.
  • A fixed monthly income should also be fixed.

2. HDFC Life Click 2 Protect Life

  • Provides comprehensive financial protection to the policyholder’s family
  • Provides additional sum assured on accidental death.
  • With the return of premium option, the policyholder can get back all the premiums paid on survival till maturity.
  • Tax benefits are provided as per tax laws.
  • The benefit of waiver of premium on diagnosis of critical illness can be availed by adding riders.
  • Special premium rates are provided for women and non-tobacco users.
  • Minimum age at entry of this term insurance policy- 18 years and maximum
  • Age at entry – 65 years.
  • The minimum maturity age of this term insurance policy is 28 years and the maximum maturity age is 75 years.
  • The minimum policy term of this term insurance policy is 10 years and the maximum policy term is 30 years.

3. Max LifeTerm Insurance

  • Max Life Term Insurance Plan is a comprehensive term insurance plan that provides death benefit as well as benefits in case of becoming disabled or suffering from other diseases.
  • Flexibility to the customer to enhance the policy coverage.
  • The claim settlement of the company is high.
  • Policyholders are eligible for tax benefits under section 80C of the Income Tax Act, 1961.
  • These term insurance plans are available at very affordable premium rates.
  • Quick support is provided to the customer.
  • In case of suicide, the insurance company does not provide any death benefit to the nominee of the policy.

4. Indiafirst Term Insurance

  • Guaranteed high claim settlement.
  • Flexible options to choose plans as per your requirements.
  • Various premium payment options.
  • It is supported by Bank of Baroda and Union Bank of India.
  • Can be bought both online and offline.
  • Life cover for a term of up to 40 years.
  • Tax benefits available on premiums paid and benefits received.
  • Financial security with high term cover at affordable rates.
  • Freelook period is available for 15 days.
  • The minimum age of application is 18 years and maximum age is 60 years.
  • Minimum Sum Assured Rs. 1,00,000; and maximum sum insured of Rs. 50,00,00,000.
what are the best term insurance plan

5. Tata AIA Term Insurance Plan

  • Option to choose death benefit as lumpsum or monthly or both.
  • Option to enhance cover with life stage option.
  • Benefits of Medical Case Management.
  • Lower premium rate for female.
  • 24×7 online medical consultation.
  • The minimum age for this policy has been fixed at 18 years and the maximum age at 60 years. The age at maturity has been fixed at 65 years.
  • Premium payment option can be selected. Like- yearly, half yearly, quarterly and monthly.
  • To buy Tata AIA Life Term Insurance Plan you need to submit mandatory documents like address proof, identity proof, income proof.

6. Canara HSBC Term Plan

  • Benefit of return of premium is provided.
  • Multiple payment options are provided.
  • Coverage for whole life.
  • Option to choose the Sum Assured as per the lifestyle needs.
  • Full cover available for terminal illness also.
  • The minimum entry age for entry age is 18 years and the maximum entry age is 70 years.
  • The maximum maturity age is 75 years.
  • The policy term is minimum 5 years and maximum 40 years.

7. SBI Term Insurance

  • Provides financial security to the family of the insured.
  • Simple and easy enough.
  • Can be taken through both online and offline.
  • The premium amount to be paid is very less.
  • It is cheap.
  • Riders offered.
  • tax benefits .

8. Bank Of Baroda Term Insurance

  • Insurance cover at affordable rates.
  • Facility to increase insurance cover.
  • Benefit of choice of voluntary or automatic schemes.
  • Choice of premium payment frequencies ie – monthly, six-monthly and yearly.
  • Freedom to add new members.
  • Tax benefits under the Income Tax Act.
  • Minimum age for entry age 18 years and maximum age 85 years.
  • Maximum 86 years for maturity age.

9. Bajaj Allianz Term Insurance

  • Can increase the policy.
  • Benefits of both joint and single life insurance.
  • Sum insured discount.
  • Policies ranging from 10 years to 30 years.
  • tax benefits.
  • Option to receive death benefit in monthly instalments.
  • Security against debt liabilities.
  • Life cover up to 100 years.
  • Instant terminal illness risk cover.
  • Attractive rates of premium for women.
  • High claim settlement ratio.
  • Wide network of Bajaj Allianz Life branches.
  • product diversity.

10. Bharti AXA Life Term Insurance Plan

  • Low cost, cheap and easy.
  • Flexibility to pay premium. Monthly, half yearly or yearly.
  • Death benefit in case of death of the policyholder.
  • Long term coverage.
  • Cover in case of critical illness.
  • tax benefits.
  • Rider Benefit.
  • maturity benefit.
  • Protection from liabilities.

11. Aditya Birla Sun Life Term Insurance

  • financial security
  • Flexibility to choose pay-out option
  • High coverage at low cost
  • multiple riders
  • tax benefits

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