How To Buy Online Term Insurance Plans | Tips To Purchase Online Policies
How to Buy Online Term Insurance Plans
Life is entirely filled with if’s and but’s, none of us know what might happen even the next second. In India, most of the lower to middle class family depends on the single earning person. This makes the security of that person so vital. If you have planned to pick out your Term Insurance policy then the question may arise i.e. How to Buy Online Term Insurance Plans? We have shortlisted the Tips to Purchase Online Policies with entire procedure.
Term insurance may be defined as it is a type of insurance which is availed for a convinced period of time and it is the affordable form of insurance that offers reimbursement to the beneficiaries after the insurer death. The most important fact of this policy is that it has a built-in feature to obtain transformed to the everlasting life insurance policies irrespective of the state of health of the term insurance policyholder.
How To Buy Online Term Insurance Plans
- Follow the mentioned procedure and easily purchase your insurance plan.
- First of all, log on to the company website.
- After that hit on sum assured.
- Select the policy term.
- Then decide the premium paying term.
- After that premium amount appears.
- Choose your bank through you want to premium payment.
- Acknowledgement on a successful transaction is done.
- After the approval complete you will receive soft copy.
- Then after some you will get hard copy officially.
Know About – How to Choose the Best Life Insurance Plan
Tips To Purchase Online Policies
Compare With Other Policies
An intelligent person never purchases any policy without comparing it with other policies. It doesn’t matter are you buying a policy online or offline. In case of offline purchasing policy agent might be recommend you buy the policy of its insurance company but it’s a depends you are aware so before taking any decision check the all terms of policy.
Choose A Reputed Company
Selection of company is also important decision. It is advised to users always choose trusted brand which is stable and well known in the market. Applier must check the CSR ratio. In India LIC has maximum claim settlement ratio. ICICI Prudential, HDFC Life, SBI Life are the well known and trustable companies.
Read About – Best Health Insurance Plans In India
Terms And Condition
Before selecting any policy must ensure about the terms and condition of that policy. Because each company formulated different rules with different criteria so if you don’t want to see unexpected surprise so must read the whole details carefully before signing on any documents.
Take The Advice Of Experience Person
Insurance advisors are excellent in their work to convince the customer. Mostly try their best to convince you to buy such a policy which company provides them highest commission. So it’s important you to take the advice of your family member, friend or neighbor which is well experienced.
Save The Transaction Page
After selecting your policy follow the instruction and fill the form carefully then take a screenshot of the transaction page for future sake. It will really helpful in case of any transaction error.
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Types Of Term Insurance Plans
- Regular Term Insurance plans
- Term Return of Premium Plans (TROP)
- Group Term Insurance Plans
- Endowment Plans
- Money Back Plan
Documents Required For Term Insurance
- PAN card
- DOB/ driving license
- Address proof
- Identity proof certificate
- Income certificate
- Recent passport sized photographs
Check Also – How To Choose The Best Health Insurance Plan
Comparison Of Best Online Term Plans In India
|Term Plans||Entry Age (Min / Max)||Policy Term||Minimum Sum Assured|
|LIC’s e-Term||18 / 60 Years||10-35years||Rs. 25,00,000 for Aggregate category Rs. 50,00,000 for Non-smoker category|
|Max Life Online Term Plan||18 / 60 Years||10 – 35 years||Rs 25,00,000|
|BSLI Protect@Ease||18 / 55 Years||5-30 years||Rs. 50,00,000|
|Tata AIA iRaksha Supreme||18 / 70 Years||10-40 years||Rs 50,00,000|
|ICICI prudential – iProtect Smart Plan||18 / 65 Years||5-40 years||Subject to minimum premium paid|
|PNB Metlife – Mera Term Plan||18 / 65 Years||10-40 years||Rs. 10,00,000|
|Bajaj Allianz iSecure||18 / 60 Years||10 | 15 | 20 | 25 | 30 years||Rs.250,000 for general category Rs.20,00,000 for the categories split by Preferred Non-Smoker1 , Non-Smoker1 & Smoker|
|Kotak Preferred e Term Plan||18 / 65 Years||10-40years||Rs 25,00,000|
|HDFC Life Click 2 Protect Plus||18 / 65 Years||10 – 40 years||Rs 25,00,000|
|AEGON Life iTerm Plan||18 / 65 Years||5 – 40 years; or upto 75years||Rs10,00,000|
|Canara HSBC Life – eSmart Term Plan||18 / 70 Years||10 | 15 | 20 | 25 | 30 | 35 | 40 years||Rs. 25,00,000|
|SBI Life – eShield||18 / Max: 1.For Level Cover & Level Cover with Accidental Death Benefit: 65 years 3.For Increasing Cover & Increasing Cover with Accidental Death Benefit: 60 years||Min: For Level Cover & Level Cover with Accidental Death Benefit: 5 years For Increasing Cover & Increasing Cover with Accidental Death Benefit: 10 years MAX- 30 years||Rs. 20,00,000/|
|Reliance Online Term||18 / 55 Years||10 | 15 | 20 | 25 | 30 | 35 years||Rs 25,00,000|
|Future Generali – Flexi Term Plan||18 / 55 Years||Min: 10 years , Max: Smoker: 65 years minus Entry Age, Non-smoker: 75 years minus Entry Age||Rs. 50,00,000|
|Aviva I Life||18 / 55 Years||10 – 35 years||Rs 25,00,000|
|Bharti Axa Life – eProtect||18 / 65 Years||Fixed Policy Term – Minimum – 10 years, Maximum – 30 years Customised Policy Term – Up to 60 years, Up to 65 years, Up to 70 years, Up to 75 years||Rs. 25,00,000|
|IDBI Federal – iSurance||18 / 50 Years||10-25 years||Rs 50,00,000|
|IndiaFirst Life – Anytime Plan||18 / 60 Years||5-40 years||Rs. 10,00,000|
|Edelweiss Tokio – MyLife+||18 / 60 Years||10 | 15 | 20 | 25 | 30 | 35 | 40 years; & 80years minus Age at Entry||Rs. 25,00,000|
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Term insurance policies are presented by almost all major insurance providers, it is most affordable policy which is generally various 10, 20, 30 years etc. If your life partner, kids and parents depends on you then you really need life insurance. We are almost mentioned online insurance selection procedure so you can acquire your policy by less effort.