Term Plans are protection plans which provide only life cover. These plans can help you get adequate cover at low cost.Check out this video http://www.youtube.com/watch?v=GF1WQe4ZHKQ
3. Protect Yourself With Term Plan
Term insurance policies are one of the best and oldest forms of
life insurance plans.
Term insurance provides life cover to the policy holder for a fixed
term period usually , 05-40 years or even up to age 75.
Term insurance plans are available at affordable premium rates.
4. More Details
Minimum Entry Age : 18 years completed
Maximum Entry Age : 65 years
Maximum Maturity Age : 75 years
Minimum Sum Assured : Depends upon the company norms
Policy Term : 10 / 15 / 20 / 25 / 30 / 35 / 40 years
Premium Payment Term : Equal to Policy Term
Premium Payment Mode : Yearly, Half Yearly and Monthly
5. Understanding Term Plan
Lets consider the following scenario
Mr. Mahesh he needs to travel a
lot.
He is married and his wife does not
work and takes care of their kids.
Mr. Mahesh owns a plush house
and a car. To ensure that in his
absence his family continues to
live the same lifestyle as they do
now.
6. How to Choose Term Plan?
Check company profile, how good the insurance company is?
Compare the terms and conditions of different plans using
online comparison websites.
Check for high claim settlement ratio.
Check if your needs are satisfied.
7. Resources You Can Use Online
Term Plan Calculator
Various sites provide users with calculators which help you calculate
premium depending upon your requirement.
This helps you accurately determine about the policy and helps you plan
accordingly.
8.
9. Benefits of Term Plan Calculator
Flexibility to choose protection cover based on your needs.
Helps you compare multiple policies simultaneously.
Free to use, 24X7 availability.
10. Customer Review on Term Plan
Providers
Bajaj Allianz Life
Insurance Company Ltd
Reviews
Aegon Religare Life
Insurance Reviews
Aviva Life Insurance
Reviews
12. Verdict
When ever you are choosing a term plan keep a clear goal of
what are your requirement.
Having minimum cover is as good as not having one. So try to
get maximum cover for yourself just to be further secured.
It is always advisable to have multiple term plan from different
provides to get wide range of benefits.