Term Insurance 2022: We all love our family very much. Along with the happiness of our loved ones, we also take care that there is no shortage of financial security. But life is very unpredictable; no one knows what will happen. You work day and night to make the future of your loved ones secure and financially strong. Life insurance supports you in this hard work, which helps in the protection and financial security of your family.
There are various types of Life Insurances, one of them is Term Life Insurance. The best information about Term plans is given in this post in detail. What is term insurance?, its benefits, types and the best TermInsurance plans in India are explained in detail below.
What is Term Insurance?
Term insurance is a type of life insurance policy that provides coverage for a specified period. It is called Term Insurance as it remains stipulated for the time specified in the policy. If the policy holder dies and the policy is active, then the family gets the benefit. One of the major benefits of term plans is that it provides financial security and protection to your loved ones in the event of a tragedy.
Term Plan is a simple and easy insurance plan that provides protection to your loved ones when you are not there. Insurance premium can be determined by understanding your financial strength. You just have to pay an affordable premium amount monthly or yearly as per the policy plan you choose. You can reap huge benefits by paying an affordable premium.
Benefits of Term Insurance
- Affordable premium rate
- Flexible payment options
- High insurance cover at low premium amount
- Finantial protection to you and family
- Tax benefits
- Survival benifits
- Covid 19 coverage
How to calculate Term insurance – Term Insurance calculator
You should choose the best plan according to your income, if you want to calculate premium and coverage, we have given the link to the calculator. The term insurance premium is calculated based on the individual’s health, age, gender, medical history, policy term and the sum assured chosen.
Policybazzar Term Insurance calculator – Click here
Best Term insurance plans in India
1. SBI Life eShield Plan
| Policy Term | 18-65 years |
| Entry Age | 18-65 years |
| Cover Amount | Rs. 25 lakhs |
2. ICICI Prudential iProtect Smart
| Policy Term | 18-60 years |
| Entry Age | 18-60 years |
| Cover Amount | Rs. 50 lakhs to Rs. 1 Crore |
3. LIC E Term Plan
| Policy Term | 5-75 years |
| Entry Age | 18-65 years |
| Cover Amount | Rs. 25 lakhs, Rs. 50 lakhs, Rs. 75 lakhs |
4. Max Life Term Plan Plus
| Policy Term | 18-60 years |
| Entry Age | 18-60 years |
| Cover Amount | Rs. 2 Crores |
5. Bharti AXA Term Plan eProtect
| Policy Term | 10-75 years |
| Entry Age | 18-65 years |
| Cover Amount | minimum Rs. 25 lakhs |
6. Canara HSBC iSelect+ Term Plan
| Policy Term | 5-62 years |
| Entry Age | 18-65 years |
| Cover Amount | Rs. 15 lakhs to Rs. 3 Crores |
7. Aegon Life iTerm Plan
| Policy Term | 18-65 years |
| Entry Age | 18-65 years |
| Cover Amount | Rs. 35 lakhs to Rs. 50 lakhs |
Regular term insurance plans are given below:
- Tata AIA Maha Suraksha Suprem
- SBI Smart Shield
- Aditya Birla Sun Life Protector Plus Plan
- Tata AIA Maha Suraksha Supreme
- Sahara Kavach
Top 15 Term Insurance Companies in India
These are all IRDAI approved Term Insurance companies and are trustworthy. You can check out the best term plans as per your financial requirement on their official website. The list of the top 15 Life insurance companies is given below:
- LIC Term Insurance plan
- HDFC Life
- ICICI Prudential
- SBI Life
- MAX Life
- Canara HSBC OBC
- Bajaj Allianz
- Reliance Life
- PNB Metlife
- TATA AIA
- Aegon Life
- Kotak Life
- Excide Life
- Birla Sun Life
FAQs:
Term insurance is a type of life insurance policy that provides coverage for a specified period. It remains stipulated for the time specified in the policy.
The premium of term insurance is calculated based on the individual’s health, age, gender, whether the insurer is a smoker or non-smoker, policy term, and the sum assured selected.
LIC Insurance services 1 crore plan in India, US USA Life Insurance service. जीवन बीमा, जीवन विमा पॉलिसी, ஆயுள் காப்பீட்டுக் கொள்கை, జీవిత బీమా పాలసీ