How to Choose the Best Online Term Insurance Plan in India

Best Online Term Insurance Plan: Insurance plans are very much necessary if your child, life partner or your parents depend on your income. In this case you need to take Life Insurance Plan. The Term Insurance Plan is very simple to understand. The Term insurance plans are designed to ensure that in the event of the policyholder’s death, the family is going to get the sum assured.

The Term plan provides risk coverage for a certain period of time which may be called as the policy term or duration. In case if the insured person dies during the time period specified in the policy and the policy is active or in force then a death benefit will be paid. This is the cheapest form of Life insurance in terms of premium.
One can select the best insurance plans based on the Claim Settlement Record of the Life Insurance Companies, Affordability (Premium amount), Brand name, Quality of service provided to its customers during the online buying process and after issuing the policy, Ease of buying the Term Life Insurance plan online, Feedback received from friends who bought online term insurance plans directly.

The Best online Term Insurance Plans in India are Given Below:

HDFC Life’s Click 2 Protect Online Term Insurance Plan:

The claim settlement ratio of HDFC Life is 94%. The maximum Sum Assured that a person can buy is Rs 10 crore under this plan. HDFC Life offers advanced version of this basic online term plan, which is known as HDFC Click2protect plus.

ICICI Prudential iProtect Online Term Insurance Plan:

The ICICI Prudential is the second best after LIC as per the latest Claim Settlement data with 94.10% of the claims received were paid. This plan is known as ‘iProtect.’ This term insurance plan also provides the optional Accidental Death Benefit (ADB) rider and the maximum Sum Assured that is offered under ADB Rs 50 Lakh. 

Max Life Insurance’s Online Term Plan:

The Max life insurance company is having a claim settlement record of 93.86%. The premiums are also comparatively very less. Max’s online term plan provides optional Accident Death Benefit rider. Besides basic cover the Max’s online term plan offers two options, which are the Basic Life Cover plus Monthly Income and Basic Life Cover Plus Increasing Monthly income.

SBI Life Insurance eShield online Term Plan:

The premium of e-shield plan is very low when compared to LIC’s e-term plan. SBI Life’s e-Shield plan offers four options which are Level Cover, Level Cover with Accidental Death Benefit, Increasing cover which means the Basic sum assured is increased at the rate of 10% simple interest after every 5th policy year without increasing the premium, Increasing Cover with Accidental Death benefit.

Reliance Life Online Term Plan:

In this plan the insurer will get the death benefit covered during the policy term without expecting any maturity benefit. The person can opt for an additional accidental rider. In case of death during the policy tenure due to accident he/she may get some additional benefit as agreed upon during the policy subscription. This policy can be bought in online only, which means premium will be very less like other online term insurance plans.
How to Choose the Best Online Term Insurance Plan in India How to Choose the Best Online Term Insurance Plan in India Reviewed by amara sangati for Rating: 5