11 Best Term Life Insurance Plan in India for 2022 :
If you want to buy the best term insurance plan in India, you need to understand how insurance premiums are determined and what factors you should take into account before making a choice.
List Of Insurance Plan Available :
1. Max Life Insurance :
According to customer needs, Max Life offers customized policy terms ranging from 10 to 35 years. Term policies can also be supplemented with rider plans to provide better life protection. For the year 2019-20, Max Life insurance has the highest claims ratio of 99.22%.If your family has a higher claim ratio, their premiums would be paid to them without a hitch.
2. Bharti Axa Life Insurance :
In FY 2019-20, Bharti Axa Flexi Life has paid 97.4% of its individual death claims. The claim process is hassle-free, so you don’t have to worry.
3. LIC of India
India’s largest insurer, LIC of India, has a wide network and reach. There are LIC offices in every city and even in small towns. There is a 94.45% pay-out ratio for individual death claims at the LIC of India.
4. TATA AIA Life Insurance :
In addition to whole life coverage for 100 years, TATA AIA term offers a variety of death benefit options. A higher sum assured can result in a discount of up to 25% from the insurer. In terms of individual death claims paid, TATA AIA has a 94% payout rate.
5. SBI Life Insurance
There is a unique micro insurance term plan offered by SBI Life for people below the poverty line that offers a maximum sum assured of Rs. 50,000. The individual death claims paid ratio for SBI Life insurance is 92.13%.
A term insurance policy’s benefits :
- The highest sum assured for the lowest premiums
- Death Benefit
- Tax Benefits
- Survival Benefits
- Add-on Benefits
Term insurance premiums are affected by a number of factors :
- Current Age
- Health Conditions
- Add-on Riders
- Sum Assured and Policy Term
- Payout Options
You can protect your family with the Bharti Axa Flexi Life Term Insurance Plan since it has the highest individual death claim ratio. With flexible benefit payout options, Bharti Axa has the smoothest claim processing service.