Top 5 Best Term Life Insurance plans online
The basic premise of a life insurance policy is that in the situation of your demise the insurance company you have a policy with will pay your family a certain sum of money agreed upon in the policy.
So, Today we take a look at the Top 5 Life Insurance Companies in India.
With uncertainties like death, disease and disability around the corner no one is invincible these days, every individual needs to buy the best term life insurance plan to secure the financial future of his/her dependents.
Top 5 Life Insurance Companies in India :
- LIC – Life Insurance Corporation of India
- ICICI Prudential Life Insurance
- HDFC Standard Life Insurance
- Max Life Insurance
- SBI Life Insurance
1. LIC is India’s largest insurance company, as well as a large investor. Merged in 1956, LIC is wholly owned by Govt. of India. Its headquarters is in Mumbai and consists of 2048 branches including 101 divisional offices spread across India. LIC employs 1 million agents. LIC’s claim settlement ratio stands at 98.14% making it an exceptional company to cater the needs amongst its policyholders.
2. Being one of the leading insurance companies, Baja Allianz was established in 2001 and is headquartered in Pune. It is spread over a whopping 70 countries. The company has around 1200 branches across the country. It has got traditional, child, pension policy including other policy products. The company has a claim settlement ratio records at 98.10%.
3. Established in Dec 2000, this company is a joint venture between ICICI Bank and Prudential Plc, a leading international financial services group headquartered in the UK. The company enjoys a big network of more than 1900 branches, including 1074 micro offices and more than 210,000 advisors. ICICI Prudential is the earliest life insurers to receive the AAA (Ind) National Financial Strength rating from Fitch. The claim settlement ratio of ICICI Prudential stands at 96.20%
4. SBI Life is a joint venture between SBI and BNP Paribas growing since 2000. SBI Life provides products like protection products, pension products, and term insurance with a claim settlement ratio of 95.70%
5. Reliance Life Insurance is a leading financial company ranked among top 3 financial sector banks. In 2001 it has ranked over 500 firms. The insurance company consists of 4 different category plan like -Young & Single, Just Married, Proud Parents and Pre-retirement. The claim settlement ratio is 95.01%.
Also the maxnewyorklife , With max newyork life insurance you get so much more than coverage for a set period of time. Their term insurance goes beyond protecting your family for the short term – it puts you and your loved ones on a path towards financial preparedness in the future
If you are looking for Travel Insurance Policies then HDFC ergo travel insurance is also a great Choice. HDFC ERGO Individual Travel Insurance ensures your safety against any emergency expenses.
Types of Term Insurance :
There are various types of term insurance besides the level term policies we’ve outlined so far. Each policy has its pros and cons, depending on the needs of the policyholder.
Convertible Term
Convertible term life insurance allows a term insurance policy, which has a limited number of years before expiring, to convert into whole life or permanent insurance.
Increasing Term
Some policies allow you to increase the death benefit as time goes on. The premium increases as well, but it allows policyholders to pay lower premiums early on in life when they have a lot of bills and expenses. The increasing term prevents having to qualify for another policy at an older age to get the added benefit as would be the case with traditional term insurance.
Mortgage Term or Decreasing Term
A mortgage term or decreasing term policy is the opposite of the increasing term because the death benefit amount decreases over time.
Annual Renewable
The benefit to annual renewable term insurance is that the coverage is guaranteed to be approved each year.
Buying Online max life Insurance is Safe:
Nowadays most of the best online term insurance policies are cheaper by 40-60 percent than policies that sold offline despite having the same features and benefits.,
Also, you can deal with the insurance company directly while buying term insurance online. Most of the insurance companies provide various insurance premium payment options for online buyers such as debit cards, credit cards which are highly secured.
Most of the insurance policy companies provide various insurance premium payment options for online buyers such as debit cards, credit cards.
