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PolicyandFunds.com provides good customer services to choose Perfect & Best Term Insurance Plans in India. Term insurance its kind of life insurance policy provided by the Life Insurance Company in India. It gives financial security to the family members and nominee, and complete protection to the policy holder by finding best Term Plans in India 2018, its a piece of mind for a specific period of years by selecting a good product, and Term Insurance Plan gives Tax Benefits under Section 80(C). As an LIC Agent in Chennai we help client’s to choose the best term plan in the Industry, India. We help to check the: Eligibility, Sum Assured, Policy Benefits, Reviews, & Term Plan Premium Calculator, and to select the Best Term insurance plan in India 2018.
Term insurance plan is like Life Insurance policy, gives the financial coverage to the beneficiary or dependent of the insured person. Term insurance is a form of life insurance, provides coverage for a certain period of time and if the insured is in operation during the term of the policy, death is paid to the applicant. Futures plans are specially designed to insure your family in case of death or uncertainty.
Term insurance plan is like Life Insurance policy, gives coverage as per the policy term. An insured person while taking up the policy the term is fixed or a number of years of insurance coverage are needed. If anything happens to the insured person the insurance company provides the benefits to the nominee, this is how term insurance policy works.
Compare to other endowment policies the Term Insurance premium will be very low. The reason is here there is no investment component and the whole premium goes only for the risk cover. If the insured person expires within the term, benefits will be paid to the nominee. Under this policy, there are no maturity or survival benefits once the policy term or period expires. In India, few companies are offering the policy in term insurance with return on premiums.
The following factors to be checked before taking the Term insurance Policy:
The eligibility is defined according to the insurer’s health and wealth; the minimum (entry) age is 18 years and Maximum age limit up to 65 years.
|Tata AIA Life Insurance||Aviva Life Insurance||Bajaj Allianz Life Insurance|
|Bharti AXA Life Insurance||Birla Sun Life Insurance||Canara HSBC OBC Life Insurance|
|DHFL Pramerica Life Insurance||Edelweiss Tokio Life Insurance||Exide Life Insurance|
|Future Generali India Life Insurance||HDFC Standard Life Insurance||ICICI Prudential Life Insurance|
|IDBI Federal Life Insurance||IndiaFirst Life Insurance Company Ltd – India First||Kotak Life Insurance|
|Max Newyork Life Insurance||PNB MetLife Insurance||AEGON Life Insurance|
|Reliance Life Insurance||Sahara Life Insurance||SBI Life Insurance|
|Shriram Life Insurance||Star Union Dai-ichi Life Insurance|
Yes, the premium may vary from one insurance company to another company and based on the policy tenure premium will be changed. Even the premium for the same sum assured company to company may change.
Once we missed the premium to pay on time, check with an insurance company or Insurance agent. In LIC of India (Life Insurance Corporation of India) offers 30 days grace period allowed to pay.
The convertible option is provided to you in term insurance plan, and you can convert it to the whole life insurance policy or the endowment plan any time during policy tenure without additional charges.
Yes, we have the option to change or convert into term insurance policy to a whole life policy or endowment plans. Without any additional cost can change the policy.
There will not be any surrender value or money paid, the only risk is covered, some of the companies are providing surrender value under in return on a premium term policy.
The premium will be charged additionally for smokers based on the medical report, and non-smoker premium may low.
LIC Tax benefit as per the Income Tax Act, 1961, under life insurance policies are completely tax is exempted under Section 80C. And also the maturity or death benefits will be tax-free Section 10(10D) of the Income Tax Act.
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