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Insurance Plans 834 views November 28, 2019
Future is always unpredictable. Therefore, it becomes necessary to protect ourselves and our family from any unanticipated circumstances. Therefore, a robust insurance plan is always important to cope up with emergency situations. We will talk about term insurance plans in detail in the article below. There are many top life insurance companies in India which provide term insurance plans. However, one needs to be very cautious in choosing the best term insurance plan and policy in India. Shriram Life Insurance Term Plan is considered to be India’s best term insurance policy in India. Let’s find out step by step the followings:
Table of Contents
To find out the best insurance plan in India, the following points must be kept in mind.
A Term Insurance Plan is considered to be a Life Insurance Plan which offers an all-inclusive financial coverage in lieu of premium paid to the beneficiary or the recipient of the policy for a definite period. In case of the unfortunate death of the insured individual during the stated term, the beneficiaries are being paid a predetermined amount of money.
Term plans are the utmost cost-effective and reasonable plans amongst all life insurance policies which gives a full cover at an affordable premium. Buying a Term Plan at a young age helps to build a good corpus which will help in the future. Point to note here is that there are no maturity benefits available under term plans.
Shriram Life Insurance company of India provides various Life Insurance plans namely, Endowment Plans, Unit Linked Plans (ULIPs), Pension Plans, Money Back Plan, however, when we talk about Terms Insurance Plans, Shriram life Terms Insurance plans stand out amongst all the types of term insurance plans in India, currently available. Let’s see how.
Shriram provides term insurance plans with the least premium which in turn helps the common people to afford the same without any burden.
The company understands the need for the mass to have a wide range of choices that need to be made available in the market. And hence, the below types of Term Insurance Plans which the company offers namely and are the best term insurance plan in India.
Shriram Life Online Term Plans are very easy and helps the common man to avoid the brokerage and charges of an agent. It provides a very low-priced premium amount example: Rs 7343 annually to get a cover of Rs 1 Crore. The plan offers a life cover till 75 years. Improved and advanced protection with the options for a complete and all-inclusive cover. With a higher sum assured, a good discount is also offered by the company.
The company provides critical illness rider at a much cheaper rate which helps to cover the additional expenses with respect to medicinal and rehabilitation expenses which are there in case of critical illnesses.
A very simple claim process: The company provides a very simple and hassle-free term insurance claim process which makes the life of a nominee easier in handling the claims thereby providing faster financial security to self and family.
Trained Professionals: The Company has highly trained professionals who help the insured in the nest possible way with their expert knowledge.
Freelook period: A definite period offered by the company to refund the amount; in case the insured person is not happy with the policy after purchasing the same.
The primary motive of buying a Term Insurance is to provide strong financial protection to the family in case of any unforeseen circumstances. This protection can help the family in numerous ways like mentioned below:
1). Monetary Safety and Security: There are many costs or expenses which are a must to run a family. For example, the cost of education/ higher education, cost of daily expenses, cost of medicines due to ill-health, loan repayment etc.
2). Flexibility – Various offline and online plans are available in the market which makes it easier to choose. The plans can be changed and tailored as per the need of the insured person.
Following are the reasons which are important to note why to buy Online Insurance Term Plans.
There are certain advantages and disadvantages of Term Life Insurance Policy. First, even though the premiums are much lower, it only gives death benefit. Secondly, it’s a good option for a definite period. Third, a term life policy is very simple, but as soon as the term ends it stops the coverage and one has to buy another policy. Last, a term life policy can be cancelled easily, however with old age then it becomes a bit difficult to protect term life insurance.
From the above article, we can conclude that a good insurer Like Shriram Life Insurance Company not only provides financial security but also keeps in mind the various requirements of the people at every stage of an insurance plan. This makes life much easier and fear of unforeseen incidents is reduced to lead a happy and stress-free life.
The documents needed to term insurance plans from Shriram Life Insurance are:
Yes, the top insurance companies do provide the joint policies for spouses and so does Shriram Life.
It would definitely be an added advantage to buy term insurance even if you are not married, as the coverage will help in future.
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