Investments idea In India

When it comes to term insurance, you are spoiled for choice. The life insurance market is flooded with different types of term insurance plans all of which promise the best coverage. In such a scenario, choosing the best term insurance plan is challenging.

However, there are certain parameters which can help you find the https://www.etmoney.com/term-life-insurance" target="_blank" rel="nofollow">best term insurance plan available in the market. Some of these parameters are as follows –

Coverage offered

Modern-day term plans go beyond the coverage against premature death. They come inbuilt with additional coverage benefits which protect you against disabilities as well as diseases too. So, when buying term plans, compare the available plans on the basis of the coverage that they offer. The best plan would be the one which would offer the most inclusive scope of coverage for all-round protection.

Premiums charged

As the coverage of term plans increase, their premiums become dearer. So, while comparing term plans, you cannot consider the coverage alone. Consider the premium as well and choose a plan which offers comprehensive coverage at a reasonable amount of premium which is light on your pockets.

Flexibility offered

Another thing to consider is the flexibility which the plan offers. This flexibility should be in terms of choosing the coverage benefits, paying the premium and also choosing the coverage tenure. A plan which is flexible can be customised and since insurance needs vary with individuals, flexibility would help you design coverage suitable to your needs.

When you consider these parameters in comparing term plans, you can pick the best plan available in the market. To make your job easier, here are three of the best term insurance plans which you can choose this year –

Max Life Smart Term Plan

Max Life is a leader in the life insurance business and its term plan is no less. https://www.etmoney.com/term-life-insurance/plans/max-life-smart-term-plan/30/2" target="_blank" rel="nofollow">Max Life Smart Term Plan is considered to be one of the best plans because of the following benefits that it offers –

The plan gives you the flexibility to choose from seven different types of death benefit pay-out options so that you can create a suitable source of income for your family in your absence

You can avail coverage up to 85 years of age

You can choose the refund of premium option and get the premiums refunded if you survive the duration of the policy

Max Life Smart Term Plan provides coverage against 40 critical illnesses and if you are diagnosed with any covered illness, you get a lump sum benefit which can be used for medical treatments

The plan offers you the benefit of increasing the sum assured if you get married or have children during the policy tenure

https://www.etmoney.com/term-life-insurance/plans/icici-prudential-iprotect-smart-life/29/1" target="_blank" rel="nofollow">ICICI Pru iProtect Smart

Another leading term insurance plan offered by a reputed life insurer, iProtect Smart provides you with the following benefits –

You can choose to avail coverage up to 99 years of age

The plan has an optional coverage against critical illness which covers 34 such illnesses. If you choose the optional cover and are diagnosed with any of the 34 illnesses, you get a lump sum benefit to meet your financial obligations in such an emergency

You can choose the death benefit pay-out to be in a lump sum, in uniform monthly incomes, in increasing monthly incomes or in the combination of both lump sum and monthly incomes

The plan has an inbuilt terminal illness benefit wherein the sum assured is paid if you suffer from a terminal illness including AIDS

You can further enhance the coverage of the policy by opting for the accidental death benefit rider

https://www.etmoney.com/term-life-insurance/plans/hdfc-life-click-2-protect-3d-plus-life/28/1" target="_blank" rel="nofollow">HDFC Life Click 2 Protect 3D Plus

As the name suggests, this plan provides surplus benefits to you that not only includes comprehensive coverage but also other value-added benefits. These benefits are as follows –

There are nine plan variants which cover death risk, illnesses and disabilities

You can avail coverage up to 100 years of age under the plan’s whole life variant

The plan allows you to increase the sum assured at important events of your life, i.e. marriage and childbirth when your responsibilities increase

There is an inbuilt terminal illness benefit which pays the sum assured if you suffer from a terminal illness

Premium discounts are available for females and non-smokers which make the plan more affordable

These are some of the best term insurance plans available in the market today. You can take your pick and invest in any of these plans for all-round protection. You can also buy these plans online from the best investment website ETMONEY.com. What makes ETMONEY.com the best investment website is the ease of purchases, instant policy issuance and online KYC verifications. So, choose ETMONEY’s https://www.etmoney.com/" target="_blank" rel="nofollow">best investment website and get insured under a term plan at the earliest.