{"id":8581,"date":"2018-07-03T19:04:55","date_gmt":"2018-07-03T13:34:55","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=8581"},"modified":"2018-07-03T19:04:55","modified_gmt":"2018-07-03T13:34:55","slug":"term-insurance-plans-for-family","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/term-insurance-plans-for-family\/","title":{"rendered":"Term Insurance Plans For Family"},"content":{"rendered":"

Your family is your first priority. While you cannot have any guarantees in life, you can protect your family from financial insecurity in the event of your unfortunate death or even critical illness. Term life insurance policies are the most simple and fundamental insurance products available in the market. Customers can choose from several term insurance policies available in the market.<\/p>\n

Features of Term Insurance Policies for Family<\/h2>\n

The salient features of Term insurance policies are listed in the table below:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Product feature<\/strong><\/td>\nDescription<\/strong><\/td>\n<\/tr>\n
Cheapest form of life cover<\/td>\nCompared to other forms of insurance, term life insurance cover is cheaper<\/td>\n<\/tr>\n
Pure protection plan<\/td>\nDesigned to protect your family from unexpected circumstances<\/td>\n<\/tr>\n
No investment option<\/td>\nTerm insurance cover provide cover to the dependents. The sum assured is not reinvested in any manner<\/td>\n<\/tr>\n
More coverage for low premium<\/td>\nTerm insurance policies provide more coverage for a lower premium<\/td>\n<\/tr>\n
Flexible premium payments<\/td>\nCustomers can choose from a range of premium payments options<\/td>\n<\/tr>\n
Cover for a specific period<\/td>\nCover is provided for a specific period only<\/td>\n<\/tr>\n
Risk management<\/td>\nIf a customer takes a housing loan for 10 years, he or she can take a term policy of corresponding value<\/td>\n<\/tr>\n
Riders<\/td>\nSeveral additional riders such as critical benefit rider, accidental death benefit and partial permanent disability are available<\/td>\n<\/tr>\n
Simple and hassle-free<\/td>\nEasy to understand product<\/td>\n<\/tr>\n
Variants<\/td>\nSeveral companies offers term insurance plan with variants such as level benefit, increasing benefit and decreasing benefit<\/td>\n<\/tr>\n
No maturity benefits<\/td>\nIn most term insurance plans, there are no maturity benefits in that if a policyholder survives, he or she doesn’t get any maturity benefits. However, some insurance providers are coming out with maturity benefits as well.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Top Term Insurance Policies in India<\/h2>\n

Some of the sought-after\u00a0term insurance policies in india\u00a0include the following:<\/strong><\/p>\n

    \n
  1. HDFC Click2Protect<\/li>\n
  2. Kotak Life ePreferred Term Plan<\/li>\n
  3. LIC Online e-Term<\/li>\n
  4. ICICI Prudential iCare<\/li>\n
  5. Max Life Online Term Option I<\/li>\n<\/ol>\n

    Details related to top term insurance plans are listed in the table below<\/p>\n\n\n\n\n\n\n\n\n
    Insurance policy<\/strong><\/td>\nCompany<\/strong><\/td>\nSolvency ratio<\/strong><\/td>\nClaim settlement ratio (%)<\/strong><\/td>\n<\/tr>\n
    LIC e-term<\/td>\nLIC<\/td>\n1.54<\/td>\n97.7<\/td>\n<\/tr>\n
    Click2Protect<\/td>\nHDFC Standard Life<\/td>\n2.17<\/td>\n95.8<\/td>\n<\/tr>\n
    e-Preferred<\/td>\nKotak<\/td>\n2.67<\/td>\n92.1<\/td>\n<\/tr>\n
    iTerm<\/td>\nAegon Life<\/td>\n3.22<\/td>\n66.1<\/td>\n<\/tr>\n
    iSecure<\/td>\nBajaj Allianz<\/td>\n2.86<\/td>\n90.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    Some of the other term insurance policies available in the market include the following<\/p>\n\n\n\n\n\n\n\n\n\n
    Company Name<\/strong><\/td>\nProduct Name<\/strong><\/td>\n<\/tr>\n
    Bharti Axa<\/td>\ne-Protect<\/td>\n<\/tr>\n
    Metlife<\/td>\nMet-Protect<\/td>\n<\/tr>\n
    ICICI Prudential<\/td>\ni-Care<\/td>\n<\/tr>\n
    Future Generali<\/td>\nSmart Life<\/td>\n<\/tr>\n
    Star-Union Dai-ichi<\/td>\nTerm Plan<\/td>\n<\/tr>\n
    SBI life<\/td>\nSmart Shield<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    Max Life Online Term Plan<\/strong><\/h2>\n

    The features of Max Life Online Term Plan are listed below:<\/p>\n