Best Term Insurance Plans in India 2019/2020

Finding the best term insurance plan is an imperative for a person who has a dependent or family. It is a proven fact that a term plan provides the most value for money proposition. This is the basic form of life insurance where a certain amount is paid on the death of life insurance. In case of insured surviving during the policy term, no maturity benefit is provided by the insurer. The premium rate of the best term insurance plan depends on three basic factors: age, policy term and the amount you choose.

List of Best Term Insurance Plans of 2019/2020.

Term insurance policies are offered by most insurance providers and these plans come with varying tenure duration such as 10 years, 20 years, 30 years, etc. Most of these best term insurance plans come with an in-built feature. A permanent life insurance policy regardless of the insured health status.

Since there is a wide range of term insurance plans available in the market, choosing the right one is always a difficult task. To help you, here we have shown the list of best insurance plans in India to invest in 2019.

  • LIC e-Term Insurance Plan
  • ICICI Pru iProtect Smart
  • SBI Life eSheild
  • HDFC Life Click 2 Protect 3D Plus
  • Max Online Term Plan Plus
  • SBI Smart Shield
  • Aegon Life iTerm Plan
  • Aviva iLife Plan
  • Bajaj Allianz eTouch Online Term Plan
  • PNB Metlife Mera Term Plan
Best Term Insurance Plans in India 2019/2020
Best Term Insurance Plans in India 2019/2020

LIC e-Term Insurance Plan

As a best term insurance plan, LIC e-term plan is an online term insurance plan that provides financial protection to the insured’s family at a very affordable premium rate. As it is an online term plan, the process of purchasing LIC e-term plan is very simple and hassle free. The policy provides death benefit to the beneficiary in the event of death of the insured during the policy term.

Features and Benefits Of LIC e-Term Insurance Plan

  1. It is a traditional non-partnership term insurance plan.
  2. The plan only provides a death benefits.
  3. The plan can be purchased/Buy online in a simple and hassle-free manner.
  4. Provides facility to select the policy for a period ranging from a minimum of 10 years to a maximum of 35 years.
  5. U / S 80C provides the benefit of tax exemption of the Income Tax Act.
  6. The maximum maturity age of this policy is 75 years.

ICICI Pru iProtect Smart

As one of the best term insurance plans in India, ICICI Pru iProtect Smart Plan comes with various life cover options to choose from. As a comprehensive term insurance plan ICICI Pru iProtect Smart provides financial protection to the insured’s family at a very affordable premium rate. The scheme provides an additional death benefits as accidental death rider benefits and critical illness benefit to increase the coverage of the policy.

Features and Benefits Of ICICI Pru iProtect Smart

  1. This is the best term insurance plan, which can be purchased online in a simple and hassle-free manner.
  2. The plan provides comprehensive coverage against terminal illness, death, and disability Best For Health Problem.
  3. Women’s policy offers premium discounts for buyers.
  4. U / S 80C provides the benefit of tax exemption of the Income Tax Act.
  5. The insured can choose from three different payment options monthly income, lump sum, and incremental income.

SBI Life eSheild

SBI Life eShield is one of the best term insurance plans that is known for providing various plan options to meet the different needs of its customers. The best part of the plan is that customers who follow healthy lifestyles get cheaper premium rates. The plan has several benefit structures, such as level cover and mounting cover. The product offers in-built accidental death cover as well as tax benefits to policyholders.

Features and Benefits SBI Life eSheild

  1. It is the best term insurance plan, which comes with regular premium payment options.
  2. The plan provides comprehensive coverage/Security at an affordable premium rate.
  3. The insured can choose from 3 different options of coverage.
  4. The premium paid for the policy is applicable to tax exemption U / S 80C of the Income Tax Act. Maturity income is applicable to tax exemption U / s 10 (10D) of the IT Act.
  5. The scheme is with a minimum entry age of 18 years, while the maximum entry age of the policy is 65 years.
  6. The maximum maturity age of the policy is 70 years.

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