SuggestInsurance com offers an online consultation environment where you can learn about the right insurance and investment solutions for you. In fact, if you are looking for easy to understand information about term insurance plans in India, then you have come to the right place. Our consultants know how confusing it can be to compare and buy term insurance. There are many different factors involved that may affect the price and the benefits of your insurance. Moreover, lack of knowledge about insurance plans may lead you to choose the wrong coverage for yourself and your beneficiaries. This quick guide should help you get the best term insurance plans in India: Understanding Term Insurance Plans Term insurance is a type of insurance that you can buy and own for a fixed term or certain period of time, which is usually indicated in years. Unlike other life insurance policies, term life insurance is less expensive due to the absence of cash value and maturity benefits. The policy will only be paying the policy proceeds, if you die within the period of coverage. However, that is only the purest form of a term insurance policy. Some term plans can return your premiums when you survive the policy period and your policy expires thereafter, or a plan can provide monthly income to your beneficiary in case of your demise. Which Companies Offer Term Life Insurance Plans in India? Almost all major insurance companies in India offer term insurance policies in different terms like 10, 20, or 30 years. Most policies come with built-in features that can be converted into permanent life insurance regardless of your health. When you get a term insurance quote from SuggestInsurance Com, you should be able to see and compare Life Insurance plans from different insurers and the different conditions and terms of each insurer. Choosing the Right Plan There are certain steps that you must follow when selecting the best term insurance plan. For starters, calculate the sum that you want to be assured of, then decide if you want to take the policy with a return of premium, or none at all. Pick an insurance company that can provide the sum assured that you want, and check the premium that comes with it. Be sure to check the insurance provider's claims settlement ratio. It should give you an idea of the percentage of the claims the insurer has honored against the number of claims that they received in a particular year. About the Author Suggestinsurance com is the online identity for IRDAI approved insurance broker S B Insurance Brokers Pvt. Ltd. On SuggestInsurance com, we offer quotes from leading insurance companies and let the customer explore the insurance plans, get their details, view and study brochure and other documents, compare the features and benefits of these plans side by side and then take a decision.
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