Top 7 Best Online Term Insurance Plans in India

Life is full of ifs and buts. None of us knows what might happen even the next minute. If your child, life partner or your parent(s) depend on your income then you need to have Life Insurance plan.

In this post, let us shortlist and understand some of the best Online Term Insurance Plans in India. These best Term Life Insurance plans can be purchased through online.

What is “Term Life Insurance Plan?”

Term insurance is the simplest and most fundamental insurance product. Term insurance plans are designed to ensure that in the event of the policyholder’s death, the family gets the sum assured (the cover amount). Term plan provides risk coverage for a certain period of time (policy term/duration). If the insured dies during the time period specified in the policy and the policy is active – or in force – then a death benefit will be paid. It is the cheapest form of Life insurance in terms of premium.

Online Term insurance Plans are,

Cheaper than conventional plans like money back life insurance or endowment plans (or) offline term plans. Online term plan insurance is roughly 30-40% cheaper than the offline plans.

The entire application submission process happens online through the company’s website. So, it is hassle free.

You may not be influenced by an agent/advisor during the buying process.

7 Best online Term Insurance Plans in India for 2015               

·         I have selected and shortlisted the below best plans based on;

·         Claim Settlement Record of the Life Insurance Companies as per IRDA’s (Insurance Regulatory Development Authority of India) latest Claim/Death Settlement Ratios (2014-2015)

·         Affordability (Premium amount).

·         Brand name.

·         Quality of service provided to its customers during the online buying process and after issuing the policy (policy life).

·         Ease of buying the Term Life Insurance plan online.

·         Feedback received from my friends/clients who bought online Term Life Insurance plans directly.

Source:  http://www.planmoneytax.com/best-online-term-plans-comparison/