An appropriate term insurance plan will take care of your financial commitments, including any
specific bills, mortgages, and loans that may be quickly paid off, in case of any unfortunate event or in your absence. Also, it will give your family members financial security.
Here is our recommendation for selecting the best term plan insurance policy, taking your financial situation and goals into account, while also providing the most benefits and coverage.
- Click 2 Protect Plus by HDFC
One of the most complete financial protection plans, HDFC Life Click 2 Protects Life has outperformed its competitor’s due to a wide range of beneficial features. It delivers benefits depending on the lifestyle and offers security at every stage of life.
- SBI Life Insurance Company Ltd – eShield Next
A modern, cost-effective term plan that covers whole life coverage for up to 100 years is the SBI Life Insurance Company Ltd eShield Next. Level Cover, Growing Cover, and Level Cover with Future Proofing Benefits are the three options available for this term plan. Additionally, it features a built-in terminal sickness benefit that, in the event of a diagnosis of a terminal or end-stage condition, offers coverage equivalent to the sum assured with a maximum limit of INR 2 crore. Also, the policyholder may cover their spouse under the same plan due to the better half benefit.
- Smart Safe Plus by Max Life
The only term plan with two death benefits offered in India is the Max Life Smart Safe Plus Plan. The policyholder also receives free built-in coverage for terminal illnesses. The RoP feature, premium discounts for exit benefits, and higher payouts for accidental deaths are just a few of the additional benefits offered by this plan. Basic Cover, Accelerated Critical Illness Option, and with Accident Cover Option are the three options available for the plan.
- Smart Term Plan by ICICI Prudential
One of ICICI Prudential’s most well-liked term life insurance policies is the iProtect Smart Term Plan. It offers cost-effective premium prices for full coverage. In the terrible event of the life assured’s passing, the nominee has the choice of receiving a lump sum payout or a regular monthly income. Additionally, it contains built-in coverage for terminal illnesses, including HIV/AIDS.
When a terminal or end-stage illness is diagnosed, the policyholder receives the life coverage amount under this option. The plan offers 99 years of entire life insurance. Women policyholders receive an up to 18% premium decrease in addition to expanded coverage for conditions specific to women, such as breast cancer.
- Sun Life Aditya Birla Shield
The Aditya Birla Sun Life Shield is a thorough term policy that is offered in eight variations to accommodate varied levels of protection. The option to add the policyholder’s spouse to the same plan is also offered. The fact that this plan reimburses the premium payment at insurance term maturity is another reason we chose it. The built-in terminal illness provision of this plan automatically pays 50% of the sum assured up to a maximum of INR 2.5 cores upon the diagnosis of any terminal or end-stage illness. Also, it offers a 4% discount for online insurance purchases.
