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