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Compare Term Insurance Plans to buy the best Term Life Insurance Policy

Term Insurance is the simplest form of insurance designed to provide a risk cover on the life of the insured for a defined number of years (the “term” of the Policy). There are more than 20 life insurance companies offering term plans in India, making it very important that you Compare Term Insurance Plans before buying, to get the best term plan for your requirement. On i-save.com you can Compare Term Insurance policies of all the leading Life Insurance Company in India.

What is Term Insurance

Term Insurance is the simplest form of Life Insurance, providing you with financial protection for your family in the event of death. There are no survival benefits associated with Term Insurance policies i.e. you do not receive any of the premium back once the policy term expires. Term Insurance provides high financial protection at a minimal cost.

Online Term Insurance

In the past years, Online Term Insurance Plans have been introduced by many companies. Online term insurance plans offer the same type of basic life cover as other Term Insurance plans. The key differences are that online term plans are available for purchase in select geographies or cities, depending on the insurer; and are available for purchase only on the internet. Many online life insurance term plans do not offer additional optional Riders, keeping the online purchase process simple and easy to buy. Most online term plans tend to be lower cost than offline term insurance plans as they are available direct from the company and have lower costs. Always compare online term insurance plans to get the best online term plan. At i-save.com, we help you compare online term plans including Aviva iLife, Aegon Religare i-Term, ICICI Prudential iCare, India First Life Plan, Kotak e-Term, Kotak e-Preferred and MetLife Met Protect; in addition to all other offline Term Insurance Plans.

Term Insurance with Return of Premium

On the other hand, Term with Return of Premium provides that on maturity of the Policy, some or all of the Premiums paid during the life of the policy are paid back. (Note: Policy maturity is only at the end of the term). The premiums paid on Return of Premium policies are invariably significantly higher than pure term insurance policies.

Term Insurance Premiums increase with Age – the older the person, the higher the premium. Once a term insurance policy has been issued, the premiums will not increase over the term. It makes sense to buy a term insurance policy at an early date – since premiums are lower when you are younger, the longer the term the more money you save.

One should consider Term insurance to provide financial support and replace lost income for your dependents and family in the event of your death, especially if you are the primary earner for the family. At the same time, Term Insurance should also be used to ensure that your liabilities (e.g. home or business loans), if any, are paid without imposing an additional financial burden on your dependents if and when you are not around.

Tax Benefits on Term Insurance

Premiums paid on Term Insurance are eligible to tax deduction under section 80C. Please click here for details of tax benefits available.

Why Compare Term Insurance on i-save.com

We help you get information, compare term insurance plans and apply online for Term Insurance policies from leading life insurance companies in India to get the best term plans. Use our tools and calculators  for insurance planning and to determine how much insurance is adequate for you.

Compare term insurance on i-save.com, we help you save money and time. Get the best term insurance policy for your requirements. Always do a Term Insurance Plans Comparison in India for all Insurance companies and buy the best term insurance online using our easy to use comparison tools, in just 3 easy steps.

View our i-save Ratings for Term Insurance Plans which provide a comprehensive relative ranking of term life insurance plans, across the three key parameters of cost to customer, product features and benefits, and the insurer's service data. For details of i-save Ratings for Term Insurance, click here

Read our Product Reviews and Scorecards at reviews.i-save.com for a detailed review of all term insurance plans including online term insurance plan product reviews.

Read our Life Insurance blogs, Guides and FAQs to get the information you need to understand term insurance benefits and features to make an informed decision.

Remember Term Insurance is a simple, transparent and cheap product to help you secure your family’s future and provide financial protection to your loved ones. Always compare term insurance to get the best term plan!

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