Term Insurance Plans
Term Insurance Meaning: It is the most traditional life insurance policy wherein the life insured gets death benefit if any contingency (an incident which cannot be predicted) happens within the Policy Term or Policy Period.
Term Insurance or Term Life Insurance is a life insurance which gives the coverage for a limited period of time (the relevant term), at a fixed rate of payments. After that particular period or term expires, coverage at the previous rates (rate of premiums) is no longer guaranteed. The Insured/client, must either surrender the coverage or may obtain further coverage with different payments / conditions.
Benefit under Term Insurance:
The main benefit under Term Insurance or Term Life Insurance is, In case the Life Insured dies during the Policy Term or Policy Period, there will be the death benefit which is payable to the nominee or beneficiary. In short, we can say Term Insurance or Term Life Insurance is the least expensive way to purchase a significant or considerable death benefit on a coverage amount per premium dollar($) basis over a certain period of time.
Term Insurance is a pure death benefit, which provides coverage for the insured or his/her beneficiaries during the policy term. It gives financial support to the family, if any contingency happens to the insured during the term. Term Insurance does not include funeral costs, mortgages, education for dependents, consumer debt and dependent care.
Term life Insurance is less expensive (depending on the length of policy term or period), so you can choose it in favor of permanent life insurance, even if the proposer is an everyday smoker. You can choose your policy term and pay your premiums monthly/yearly/half yearly etc., as per the conditions mentioned by the insurance company. You can calculate the premium for desired plan using Term Insurance Premium Calculator at the company’s site.
Term Insurance Plans of Different Life Insurance Companies
1. AEGON Religare Life Term Insurance Plans
- AEGON Religare iTerm Plan
- AEGON Religare Term Plan
- Aegon Religare Increasing Term Plan
2. Aviva Life Insurance Term Plans
- Aviva Life Shield Plus
- Aviva Life Shield Platinum
- Aviva i-Life Term Plan
- Aviva Ilife Secure Term Plan
- Aviva Life Shield Advantage
- Aviva Ishield Plan
3. Bajaj Allianz Life Insurance Term Plans
- Bajaj Allianz Isecure More
- Bajaj Allianz Isecure Loan
- Bajaj Allianz Isecure Plan
4. Bharti AXA Life Insurance Term Plans
- Bharti AXA Life Elite Secure
- Bharti AXA Life Eprotect
5. Birla Sun Life Insurance Term Plan
- BSLI Protector Plus Plan
6. Canara HSBC OBC Life Insurance Term Plan
- Canara HSBC OBC Life Esmart Term Plan
7. DHFL Pramerica Life Insurance Term Plans
- DHFL Pramerica Family First Plan
- DHFL Pramerica Family Income Plan
- DHFL Pramerica U Protect Plan
8. Edelweiss Tokio Life Insurance Term Plan
- Edelweiss Tokio Protection Plan
9. Exide Life Term Insurance Plan
- Exide Life My Term Insurance Plan
10. Future Generali Life Term Insurance Plan
- Future Generali Care Plus Plan
11. HDFC Standard Life Term Insurance Plans
- HDFC Life Click 2 Protect Term Plan
- HDFC Life Click 2 Protect Plus
12. ICICI Prudential Life Term Insurance Plans
- ICICI Prudential iProtect
- ICICI Prudential Icare II
13. IDBI Federal Life Term Insurance Plans
- No Term policies available
14. IndiaFirst Life Term Insurance Plans
- IndiaFirst Anytime Plan
- IndiaFirst Life Plan
15. Kotak Mahindra Old Mutual Life Term Insurance Plans
- Kotak e-Preferred Term Plan
- Kotak e-Term Plan
- Kotak Term Plan
- Kotak Preferred Term Plan
- Kotak Saral Suraksha Plan
16. Term Insurance Lic (Life Insurance Corporation of India) Plans
17. Max Life Term Insurance Plan
- Max Life Online Term Plan
18. PNB Metlife India Term Insurance Plans
- No term policies available
19. Reliance Life Term Insurance Plans
- Reliance Term Plan
- Reliance Life Eterm Plan
- Reliance Life Online Term Plan
20. Sahara India Life Insurance Company
- No Term policies available
21. SBI Life Insurance Company
22. Shriram Life Insurance Term plans
- No term policies available
23. Star Union Dai-ichi Life Insurance Term plan
- Star Union Daiichi Premier Protection
24. TATA AIA Life Insurance Term plan
- Tata AIA Maha Raksha Supreme Plan
For more information regarding Income Tax Benefits, visit www.taxqueries.in.
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