Online Term Policies in India: Best Plans, Features and Benefits
There are a number of benefits of getting online term insurance policy in India. They are comparatively cheaper than offline plans. Read this post for more information on online term plans in India.
Online term policies are becoming popular in India. Since there is no middleman or agent involved in online policies these are much cheaper than the offline term plans. In order to get these online plans, you just need to visit the official website of the insurance company, fill your details, make payment online and you are done. It also offers the convenience of getting an insurance policy from your home itself in few minutes. However, the biggest problem faced by an investor is that which is the best online term policy? Also they are worried about security and reliability of online term plans. This post will discuss all the aspects related to online term plans.
Benefits of Online Term Plans
1.The online policies are cheaper in comparison to the offline plans. Thus you will have to pay fewer premiums for the same insurance coverage if you choose offline mode.
2.Buying the plan online is also very easy; you can do it on your own within few minutes. If you do not have much knowledge about internet or making payments online, you can ask your kids to do this for you. In fact, the increasing awareness among Indian customers is the primary reason behind the popularity of online term plans.
3.There are more than 20 companies offering online term insurance in India. At such, you also have a variety of options to choose while buying an online plan.
Which is the best Online Term Policy in India ?
This is a hard question to answer but I will try to give a list of some appealing plans based on their features.
1.Click to protect of HDFC standard : The click to protect insurance policy of HDFC is making a lot of buzz in the insurance market. Since HDFC is one of the leading private companies in India known for quality service, most of the people prefer to choose its plans. The features of the plan are quite simple. In case the policy holder dies, the insurance amount is given to the nominee. You cannot surrender this plan in between. The age of the policy holder should be between 18 years to 65 years at the time of entry. It is available for the duration of 10 years, 15 years, 20 years, 25 years, 25 years, 30 years respectively and you are required to pay the premium annually.
2.ICICI Care: The ICICI care policy is available in two options. The first option provides only the insurance amount to the nominee in case of the death of the policy holder during policy term. In case you opt for option 2 of this plan, the nominee will get additional accidental benefit also in case of death of the policy holder during the policy term.
3.Eye life of Aviva life Insurance: The third online term plan which we will discuss here is the Eye life of Aviva. This policy is popular among the people mainly because the premium charged is less in comparison to the other policies. The minimum amount of insurance you can opt for in Eye life plan is Rs 25 lakh rupees.
There are some other options also like the Aegon religare iTerm and Kotak e-Term plan. The premium you will have to pay also varies from company to company and your age at the time of entry. For instance, if you are 25 years in age and opting for a term plan of 25 lakhs from Kotak-e term for 25 years, you will have to pay Rs 3463 as the annual premium. For ICICI pru iProtect you will have to pay Rs 3390 and for Aegon religare iTerm it comes to be Rs 4050 (All other conditions remaining same).
I hope this post helped you to understand the best online term plans in India. If you have any doubt about the online term plans, you can leave a comment below.