Best term insurance plan in India
How do you think you should decide which term insurance plan to go for? What are the real features which is apt for the best term insurance plan in India? And how is the way to be confident on the term insurance plan we think is the best term insurance plan for us.
Let us now discuss the factors we should keep in mind to make sure that this is the best term insurance plan India available. As we know that term insurance is a life insurance which provides a fixed and a sure shot coverage, on accordance of a fixed premium which we submit for a limited period of time. As it is directly focused on the death issue of the insured so if the insured is not dead by the time premium is fixed the whole money will be seized and there will not be any claim of the insured or the insured’s family on that money and it will remain with the insurance company.
Now there are certain points you need to see before buying any term insurance plan and before deciding which the best term insurance plan is:
Claim settlement: now before you decide anything, do check the claim settlement ratio of the insurance provider; the claim settlement status varies from different insurance provider to provider. For example if in insurance company has got 200 claims but has settled 190 claims that mean the settlement ratio of this particular insurance company is 95% which is a good settlement ratio.
See the insurance company’s status and reputation: do some research before buying the term insurance plan and also make sure the insurance company from which you are thinking to buy the term insurance plan has been good since beginning and has a good reputation in the market. In that way so far the best reputation has been occupied by LIC India Ltd. They have the best claim settlement ratio as compared to other insurance company, so the chances to get the best term insurance plan here is higher. It is not like this that other companies are not good or they don’t provide the best term insurance plan but the whole concern is to do a thorough check of the company before taking the decision.
Plans with low premiums: It is not advisable for you to consider that any plan with low premium will be good, NO it is not like that, it may look lucrative and beneficial but there are certain hidden traits in it all you need to do is check all the things beneath the term insurance policy before buying.
With the above mentioned points keeping in mind hope you buy the best term insurance plan in India.