How to Find Best Term Insurance Policy Plan
Most people are of the misconception that the cheapest term insurance plan is often the best. This explains why many of them compare premium rates while making their choice of term insurance. Though premium rates matter, it makes sense to compare the plans’ benefits as the choice of the right plan would go a long way in ensuring the financial security of one’s dependents and loved ones.
Free Compare Term Insurance Plan On Wishpolicy
- As opposed to relying on agents’ hearsay, it would be more prudent to log on to the sites of various life insurance companies in India, look at their plans and compare their benefits. Better if you log on to the site of Wishpolicy, an insurance web aggregator, that lists the premium charges and benefits of some of the top insurance companies, thus, enabling customers to make the right choice concerning term insurance.
- Unlike most sites that are clogged with unnecessary content, Wishpolicy has an easy-to-use approach for its customers, thus, guaranteeing a better experience to its users. The uncluttered look of the site means that customers can scan the home page and click on tabs in sync with their insurance requirements. Customers have to answer a set of questions regarding their gender, lifestyle habits, and salary package. Post submission of details, customers can see a list of the insurance companies along with details of their basic premium rates and add-on rider benefits that they may choose from.
- While most sites only list only the benefits along with the jargons used in the insurance sector without elucidating on what they mean, Wishpolicy aims to inform and educate its customers about the benefits of each term insurance plan and the add-on rider benefits that they may avail from the insurance companies listed on the site. Pop-ups explaining the meaning of the add-on covers and how they serve to enhance the policy ensure a better understanding of the term insurance benefits.
- Also, every add-on rider comes at nominal addition to the basic premium rates. Wishpolicy makes sure that the price of each add-on cover is displayed clearly so that customers know what they are paying for. Discounted premium charges for non-smokers and women are also available, thus, allowing working women to invest in term insurance so that their loved ones do not face financial distress due to the sudden loss of their income in the event of their unfortunate death.
- In case of input of wrong information, the customers always have the option to edit the information they have submitted earlier and then proceed to pay for the policy. In sync with the IRDAI guidelines, customers are required to submit complete details regarding their complete name, address, income, education, qualifications, etc. The details submitted must be accurate to prevent rejection of the policy claim, if and when required.
- Payment options are multiple, which means that the hassle of making payment through cheques can be done away with. Customers may pay through their Credit Cards, Debit Cards or Net Banking depending on their suitability and requirements. The OTP sent to the registered mobile number of the customer authenticates that the mobile number registered with the insurance company is correct and ensures that the policy is sold to the right person.
With so many benefits available and scope of making mistakes completely practically nil, buying term insurance through WishPolicy is indeed a seamless and hassle-free process.
Why Buying a Term Insurance Plan Will Keep Your Loved One’s Future Secure?
While one may invest in any financial instrument depending on the risk appetite and financial goals, it goes without saying that nothing guarantees long-term financial security like paying for a term insurance plan. This is because unlike most investment options that are market-linked or do not ensure guaranteed returns or mandate a certain period for maturity, the essence of term insurance is to hand over death benefits in the event of sudden death.
Some of the essential features synonymous with term insurance include:-
- Financial Security
- Nominal Pricing
- Premium Payment Flexibility
- Flexibility Regarding Choice Of Policy Period
- In-built Tax Benefits
There is no straightforward answer to the amount of sum assured you must choose while buying a term insurance plan. You may buy term insurance from the Wishpolicy site after looking at necessary details like available benefits, policy terms & conditions, and the corresponding premium rates. Premium charges, though matter, must not be the ultimate consideration for term insurance purchase. Also, the dual tax benefits under Section 80C and Section 10(10D) of the Income Tax Act means that you can save on the premiums paid while the nominees can benefit from the tax exemption availed on the sum assured.
Term insurance bought today can ensure a financially secure future tomorrow. Buying term insurance through Wishpolicy means that you choose from only the best as the site has tied up with some of the best life insurance companies in India, thus, safeguarding against insurance policies with poor claim settlement ratio and a complex claim settlement process.