The term insurance is life cover that provides a death benefit to the beneficiary of the insured one if the insured dies during the specified policy period. If the insured survives until the end of the policy term, the coverage ceases without value and a payout or death claim cannot be made.These are the cheapest insurance plans with high cover.
Term life insurance provides one with a high cover at very low premium and cover one for large periods of time. The plans are simple to understand and give you choice to choose your plan, inclusions, premiums and payment frequency . Life insurance gives you tax benefits under section 80(C).
One should choose the cover from 10 to 20 times of the annual income depending upon the age group of the insured person. The cover multiplier selection may be lower if the insured one is elder.
Nowadays almost all the premier insurance companies are providing the term insurance in both offline as well as online mode. Online term insurance plans are available generally at lower cost.
Few online term insurance plans are listed below:
- SBI Life-eShield
- Aviva - iLife
- HDFC-Click 2 Protect
- ICICI Pru- i Care
- Kotak eTerm
- Bajaj Allianz iSecure
The Policies may be compared on www.policybazaar.com
