Term Insurance 2665 views December 30, 2019

Best Term Insurance Companies in India

Term insurance is one of the most commonly bought types of life insurance in India. As a result, all the top life insurance companies offer term insurance plans. While this is an advantage it can also be a bit confusing for you to choose the best plan from the best possible insurance provider. This is why you need to identify the insurance company that has the ideal cover for you. Take a look at this article to know what makes a term insurance plan suitable for you and which companies offer such a plan.

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Top ten term insurance companies in India 2020

Now let us take a look at the top-rated term insurance companies in India currently:

  1. Life Insurance Corporation of India
  2. HDFC Life
  3. ICICI Prudential
  4. SBI Life
  5. Max Life
  6. Kotak Life Insurance
  7. Tata AIG life
  8. Bharti Axa Life Insurance
  9. Aviva Life Insurance
  10. PNB MetLife

These are some of the best term insurance companies in India presently. Choose your plan from any one of these insurance companies and you will surely find a very good life cover at some of the best possible prices.

Features of the best term insurance companies

Let us begin by listing the features that make a term Insurance Company good and different from the others:

Wide range of covers

when looking to buy term insurance you should have many options at your disposal. You should not be forced to buy the first plan that you come across. The best term insurance companies always have a wide range of plans for you to choose from. This makes it easy for you to choose the option that you feel suits your requirements the most. Before you must look out for the insurance provider who has not one but multiple term plans with multiple features on offer.

Affordable prices

The term insurance plan that you choose to buy should not be unnecessarily expensive. One of the reasons you choose term insurance is the affordability factor. A good insurance provider will offer the term plan at a low and affordable price even while offering the best possible and the highest range of covers within the plan. Choose the life insurance company that has the best plans at economic rates. This will allow you to have a good plan at a good price.

High claim settlement ratio

you buy life insurance to provide a financially secure future for your loved ones in case you suffer and untimely death. The term insurance policy pays the death benefit with which your family continuous its daily life without having to compromise on anything. It is therefore important to have a good insurance provider who will give you the assurance that the insurance claim will be paid out to your loved ones after you die. Look at the claim settlement record of the insurer you choose. Never buy term insurance from an insurance company that does not have a very healthy claim record to boast of. The claim record is the greatest testimony of a term insurance company’s reputation.

Good customer support

The insurance provider that you choose should have an excellent customer service cell. You need to have a point of contact via which you can reach out to your insurer. Everyone has doubts regarding their insurance coverage and you will also have them. Unless your insurance company is accessible and open to communication, you will find it difficult to get your queries sorted out. You may require assistant frequently or you may need it sparingly. In either case, your insurer should always be ready with the solution. Keep this very important point in mind when choosing your term Life Insurance Company.

Digital presence

Most people nowadays prefer buying term insurance online as compared to buying term insurance offline. This is because term insurance is cheaper when bought over the internet. It is also easy to compare insurance quotes, see the different options and then choose the plan that is of best use to you. The insurance company you plan to get associated with must have a strong and efficient digital presence. You should be able to buy term insurance online after running a comparison and using the various online tools such as the insurance premium calculator and so on. You should also be able to pay the premiums to initiate claims add riders, etc also the click of a button on your insurer’s website or mobile app. This is why choosing insurance with a strong digital presence becomes extremely

Quick and easy service

Your term life insurer should offer quick and easy service at every point. From offering an easy buying process to eliminating extensive paperwork, the insurance company should make the process of buying and maintaining term Life Insurance quick and easy. When your insurer can achieve this you can be assured of the fact that the company is good and reliable and you can safely by your term life insurance policy from them.

Positive ratings and reviews

And finally, the insurance company that you choose should enjoy positive reviews and ratings from its existing customers as well as from the industry insiders. It is, therefore, a good idea for you to go online and check the reviews and ratings. If you see the insurance company has positive reviews and ratings you can buy your term plan from them without any worries whatsoever. An added benefit would be to seat how many awards and accolades the company has won.

When you choose your term life insurance product make sure the insurance company has the above-mentioned features on offer. Buying a life insurance policy is not enough. You need to buy a policy from insurance who will support you all along the way. Unless you achieve this you will not be able to get your ideal term insurance coverage.

Conclusion

Keep all the points mentioned above and choose your term life insurance company with a lot of care. As you may understand, you need to have not just too good term insurance cover but also you need an association with the best possible life insurance company as well. So do your research and choose from among the excellent term life insurance companies in India.

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