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Compare Life Insurance Plans Online

The best life insurance plans can be found through online life insurance quotes comparison. The best life insurance company in India provides excellent claim settlement ratio, riders or Add-ons, affordable premiums, etc. Compare life insurance quotes from different life insurance companies to select the best life insurance plan as per your requirements.

Best Life Insurance Quotes

Best life insurance quotes can be found online on our portal by comparing different life insurance plans offered by different insurance companies. We worked with top life insurance companies in India to give the best insurance policies to our customers. To get the best life insurance plan please talk to our life insurance expert who will guide you in selecting the best life insurance in India.

Points to be considered to compare life insurance quotes online and get the best online life insurance from a list of life insurance companies in India:-

Premium

premium to be paid by the insured each year it is of utmost importance to check the premium quoted by the life insurance company and compare life insurance plans online before deciding on the life insurance company.

Sum Assured

Another thing to compare before deciding on the best life insurance plan is the Sum assured offered by the best life insurance companies.

Persistency Ratio

The persistency ratio in the life insurance policy is the number of life insurance policies that are being renewed each year with the timely payment of premium by the customers. The persistency ratio also indicates the time customers stay with the insurance company.

Solvency Ratio

Higher the solvency ratio, the higher would be financial strength of the insurance company. As per the IRDA guidelines, all insurance companies are required to maintain a 150% solvency ratio to minimize the risk of bankruptcy.

Additional Coverage

Most of the best life insurance plans have few inbuilt add-ons which are charged in the basic premium. These add-ons are like extra coverage to the customer apart from the base coverage.

  • Life insurance with Critical Illness Cover
  • Wavier of premium in case of Disability
  • Waiver of premium life insurance in case of Critical Illness

Types Of Life Insurance Plans

1. Term Life Insurance

Term life insurance is a type of life insurance in which the insurance company agrees to pay a certain amount known as sum assured in case of the death of the policyholder within the term mentioned in the policy copy. The period in term life insurance can be anywhere between 5 years to 60 years depending on the type of life insurance term policy. If the policyholder survives the term, no survival benefit would be provided to the policyholder under the term insurance policy.

2. Whole Life Insurance

Whole life insurance is the extension of the term insurance policy. In whole life insurance, the insurance coverage is provided till the death of the policyholder or till attaining 99 years of age. Since the coverage is for a complete lifetime, it is known as Whole life insurance. While the term insurance policy has a particular period for which the coverage is offered the whole life insurance policy is covered for the lifetime of the policyholder. Survival benefit would be possible under the whole life insurance policy in rare cases if the policyholder survives the policy period.

3. Endowment Life Insurance

An Endowment policy is a life insurance plan which apart from covering the life of the insured against uncertain death, helps to save a certain amount of money regularly over some time. In short, an endowment policy consists of both the Insurance coverage and the Savings option. This amount saved under the endowment policy is known as the maturity amount and is paid to the policyholder in case he/she survives the policy period or dies during the policy period. Additionally, some endowment life insurance plans may offer periodic bonuses that are either paid on maturity or to the beneficiary in case of the policyholder’s unexpected death.

4. Unit Linked Insurance Plans

A Unit Linked Insurance Policy is a term insurance policy with Insurance coverage and Investment. ULIP policy provides a death benefit in case the policyholder expires within the policy period and also a Survival benefit in case the policyholder survives the policy term. The death benefit provided is with the premium collected under the insurance portion of the policy and the survival benefit is paid with the premium collected and invested by the insurance company. The premium paid for the ULIP plan is partially used as a risk cover and partially invested in different funds.

5. Money Back Plans

Money Back plans as the name suggests returns the money invested by the policyholder. In the money back plan, the policyholder can get a certain percentage of amounts at regular intervals, instead of getting the lump sum amount at the end of the term. It can be termed as the Endowment plan with a liquidity option. Money back plan also provides sum assured at the time of death of the policyholder or on the maturity of the policy apart from the money withdrawn at regular intervals

6. Child Life Insurance Plans

Child Life Insurance plans are life insurance plans those are the combination of both the investment and the insurance to ensure a safe future for your child. The child plans are typically classified into two types- Market linked and Non-market-linked plans. The market-linked plans are similar to that of the Unit Linked Insurance Plans where the final maturity benefit depends on the performance of the funds selected by the policyholder/the parent. Non-market-linked plans are a form of Endowment plans which offer a fixed rate of return to the customer as a maturity benefit after the completion of the policy period.

7. Retirement or Annuity Plans

Retirement plans are Life insurance plans which help people meet their expenses after their retirement with periodic payments by the insurance company. Retirement plans can generally be of two types: One is where the policyholder will invest the amount over a while to attain a corpus and after which the insurance company will pay periodic instalments to the policyholder after his/her retirement. The other is where the policyholder can purchase an annuity plan by paying a lump sum amount and the insurance company will start paying the monthly amount immediately or after a while as selected by the policyholder.

8. Group life insurance Plan

Group term life insurance plan is a type of life insurance. In group plan involves group of family members, employers, employee, members of society, and professional association. The premium for the group term life insurance policy would be paid by the Employer but the claims would be paid to the nominee of the employee in case of death of the employee due to an insured peril.

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