5 Best Term Insurance Plan in India
Term insurance is one of the most attractive ways in which you can not only grow your income but can also ensure the security of your family and loved ones in case of an unforeseen circumstance. It is a way of ensuring that your family is taken care of in case you meet with an accident or an untimely death. In India, there are many types of term insurance plans. In this article, we have picked the top 5 term insurance plans that offer some of the best features.
The following is the list of the best term insurance plans in the country.
1. ICICI Prudential iProtect Smart Term Plan:
With a variety of options and features, the iProtect Smart Term Plan by ICICI is one of the best term insurance plans we have in our country. To apply, you should be between the age of 18 years to 60 years. The features of the plan include the following:
- If the policy is held by a female member, the Company is known to give a discount on the premium.
- The term insurance covers the members against terminal diseases, death, as well as disability.
- You can also enjoy the tax benefit under the plan
- Depending on different factors, you get as many as four different options when it is time for a payout.
2. LIC e-Term Insurance Plan:
In India, the term insurance has always been synonymous with LIC. It is, therefore, no surprise that the e-term insurance policy by the Company is next on our list. The policy is known to be one of the most affordable ones. Some of the other features of this policy are as below:
- The online plan is available only in case of the death of the policyholder.
- The policy is available for a period which is in between 10 years to 35 years
- If you are not happy with the policy, the same can be returned within 30 days of purchase.
- You will be eligible for income tax exemption under the plan.
3. HDFC Click 2 Protect 3D Plus Term Plan:
As the name suggests, the HDFC term plan is available if you are looking for protection against three uncertain events including disability, death, or even a disease.
- Depending on your eligibility, there are 9 options available at your disposal.
- If you are a female or do not smoke, there is a special discount available for you.
- This is one of the most flexible term insurance plans that are today available in our country.
4. Kotak e-Term Plan:
The next term insurance plan is from the trusted house of Kotak.
- Just like the one mentioned above, the premium applicable to the policy is at a discounted rate for females as well as for non-smokers.
- The policyholder can enjoy tax benefits by getting enrolled in the plan.
- The policy is paid out in the event of the death of the policyholder.
- Different options can be availed by you to make the benefits even more attractive.
5. SBI Life eSheild:
Finally, if you are looking for flexible term insurance with attractive options, the SBI Life eSheild is one of the best policies for you. The plan is available in three different packages. Some of the other features include the following:
- You should be in between 18 years to 65 years of age to avail the plan.
- The plan matures once you reach 70 years of age.
- There is a 30 days trial period after which you can return the plan if you are not satisfied.
The above are the top 5 term insurance plans. However, many others offer quite attractive features. In this age of uncertainty, we highly recommend you get a term insurance plan.