Term Insurance Plans are the best plans to cover risk of
life. Term plans not only provide high risk cover but with less premium in
return. With increase in the Insurance companies premium for term plans differ
very much. Difference in the premium can be double between lowest to highest,
this puts the person taking insurance in dilemma of which company is best to
take Term Insurance Plans.
Key to choose the company to take Term Insurance Plan is not
the premium is be paid, but the performance of the company toward claim
settlement. Term plans do not provide any returns to policy holder if survives
till the end of the term, it is only taken to provide the financial security to
you loved ones. What if the claim is denied to you nominee?
Following
things to be kept in mind before choosing right insurance company to buy term
plan
Claim paid percentage must be greater than 90% for both
numbers and amount.
Don’t see the number of claim settled, but also the amount of
claim settled too. It shows whether higher sum assured plans are settled or
not.
See if higher amount is pending at the end of the year, Means
Company is taking too much time to settle the higher sum assured plans.
Above data do not show reason for rejection of claim,
rejection can be due to genuine reasons, therefore data should be used wisely
to arrive any final conclusion.
Do not go for low premium only.
Older a bigger companies have good claim settlement ratio and
faster settlement process too.
Choose a company with a better network.
If you are planning to buy the plan online, then make sure
the office of the insurer is in your town or very near to you to avoid any
inconvenience later on.
Read the
terms and condition as soon as you get the policy bond.
Your decision to take the Term
Insurance Plan is to secure the future of your loved ones when you will be
not with them, so take right decision while taking the term plan so that they
don’t have to suffer or denied to take the claim amount.
Source: http://blogterminsurance.tumblr.com/post/143572757586/which-company-to-choose-to-buy-term-insurance-plan
No comments:
Post a Comment