Best Term Plan Investment

How to Choose the Best Term Insurance Plan?

Comprehend the following listed aspects before choosing the ideal term insurance plan: 

• Avoid extremely cheap premiums: A very cheap premium can be misleading at times. Before you purchase the plan, read the terms and conditions carefully. Read for the inclusions as well as exclusions. 

• Read the riders that are available such as critical illness, accidental death benefit, accelerated terminal illness, a permanent disability rider, and so on. 

• Understand the requirements: Ascertain a coverage amount required as per your lifestyle and goals in the future. 

•  Choose a plan with high coverage amount: Term Insurance plans have high coverage at affordable premiums. The coverage amount should be ideally 15 to 20 times. Also, take into view your current lifestyle and inflation rate.  

Top Term Insurance Plans with Features

1. Bajaj Allianz eTouch Online Term Plan

   Bajaj Allianz is an online term plan which provides a financial shield for your family; the features are listed below: 

   Tenure of the Policy	Maximum of 40 years and minimum of 10 years.
   Paying term of the premium	10-40 years, equal to the policy term chosen
   Premium Paying Mode	Yearly, Half-Yearly, Quarterly, Monthly
   Sum Assured	Minimum Rs. 50,00,000/- Maximum Life Benefit: No Limit
   Benefits	Critical Illness Benefit Accidental Total or Permanent Disability Benefit  Death Benefit  Tax Benefits
   Documents Required	Identity Proof  Age Proof  Address Proof Recent Photograph
   Entry Age	Minimum 18 years and Maximum 65 years
   Maturity Age	Minimum 28 years  and Maximum 75 years

2. Bharti AXA Term Plan eProtect

   With an easy and hassle-free application process. The term is customizable depending upon the age of the policyholder. 

   Sum Assured	Minimum: 25,00,000 Maximum: No Limit
   Entry Age	Minimum: 18 years Maximum: 65 years
   Maturity Age	Maximum of 75 years
   Policy Term	Minimum 10 years Maximum 30 or cover ceases as per (chosen age-entry age)
   Premium Paying Term in Years	Equivalent to the policy term
   Premium Paying Frequency	Annual or Half Yearly
   Yearly Premium	Subjective to the sum assured and policy term
   Benefits	Life Insurance Benefit  Family Care Benefit Tax Benefits

   

3. Aditya Birla Sun Life Protector Plus Plan

   Entry Age	Minimum 18 years and Maximum 65 years
   Maturity Age	Minimum 26 years and Maximum 65 years
   Sum Assured	Minimum 30,00,000 Maximum No Limit
   Features	Two cover options of Level sum assured and Increasing sum assured Pure term plan with regular premium payment options
   Benefits	No Maturity Value under the plan On the death, the sum assured is paid to the nominee

4. Future Generali Flexi Online Term Plan 

   Policy Tenure	Basic Life Cover -  10 years minimum  A Maximum of 65 years – Entry Age  for Smokers and 75 years –Entry Age for Non-Smokers
   Premium Payments	Annual  and Monthly
   Entry Age	For Basic Life Cover:  18 – 55 years  For Income Protection:  25-55 years
   Maturity Age	For Basic Life Cover:  Minimum: 45 Years Maximum: 65 years for Smokers and 75 years for Non-Smokers For Income Protection: 45-65 years
   Benefits	Death Benefit  Tax Benefit  Maturity Benefit Premium Savings
   Exclusions	If the policyholder dies on account of suicide, the beneficiary receives only 80% of the premiums paid to date.
   Documents Required	Age proof, Identity Proof, Income Proof, and Address Proof
   Sum Assured	For Basic Life Cover:  Minimum: Rs. 50,00,000/- Maximum: No Limit  For Fixed Income Protection:  Minimum: Rs. 25,000 (For 25-43 Years) Minimum: Rs. 35,000 (For 44-48 Years) Minimum: Rs. 42,000 (For 49-55 Years) Maximum: No Limit  For Increasing Income Protection: Minimum: Rs. 25,000 (For 25-48 Years) Minimum: Rs. 30,000 (For 49-55 Years) Maximum: No Limit  *Subject to underwriting norms

   

5. Tata AIA Maha Raksha Supreme Plan

   Eligibility	Entry Age: Minimum 18 years and a maximum of 65 years at issue (45 years for Pay to Age 60 option) Maturity Age: Non-whole life term: Minimum 28 years, Maximum 85 years Whole life term: 100 years
   Features	Premium Rebate to Females Minimum Sum Assured of 50 Lakhs Two options to choose from – Pure Protection Cover and Life Stage Plus Option  (at key milestones)
   Benefits	The plan offers the following benefits:  Payout Accelerator Benefit Tax Benefit Death Benefit Life Stage Plus Option  Reinstatement Benefit  High Cover Discount

6. SBI Smart Shield 

   Entry Age	Minimum 18 years and a maximum of 60 years
   Maturity Age	80 Years
   Options	Level Term Assurance and Increasing Term Assurance
   Sum Assured	Minimum 25,00,000; No Limit for the maximum amount
   Benefits	Death Benefit Maturity Benefit  Survival Benefit  Tax Benefits
   Yearly Premiums	Single Pay – 11000 Regular Payments – Yearly: 3000 Half Yearly: 1500 Quarterly: 750 Monthly: 300

In Conclusion

A term insurance plan secures your family's future by providing flexibility of coverage, tax benefits, and affordable premiums and also provides financial security. Choose your term plan wisely before purchasing one to get adequate coverage.

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