Cost Effective Online Life Insurance Policies

When we talk about the cost-effectiveness of life insurance policy, the only thing which comes in our mind is term insurance policy. And that is true because having a term insurance policy gives you protection against life at a very minimal cost and with the availability of online term insurance policy, buying a policy has become very easy and quick. But there are numerous insurance policies available online and choosing the best one is very much necessary because you will be able to avail the benefits of your term insurance policy only if it is right for you. So in this article, we have mentioned some of the most cost-effective online term insurance policies to ease your process of buying.

1. Bajaj Allianz isecure plan

It is a non-participating term assurance plan which can be bought online only. It allows the policyholder to choose the term from 10,15,20,25 and 30 years. It also gives the option to cover your spouse under the same policy

Key Features

• Discount on high sum assured
• Benefit of level term cover
• Option to change premium payment frequency at policy anniversary
• Death benefit can be received as a substitute for monthly income
• Discount for maintaining a healthy lifestyle

Eligibility

Particulars

Minimum

Maximum

Age

18 years

60 years

Sum Assured

Rs.2, 50, 000 for smoker and Rs.20, 00, 000 for non smoker

No limit

Policy Term

10, 15, 20, 25, 30 years

Maturity Age

28 years

70 years

Minimum premium

Rs.3,000 (yearly)

2.HDFC Life Click2protect Plus Plan

It is a comprehensive coverage plan which is available at an affordable cost. This plan provides a wide range of additional coverage and policy term from 10 to 40 years.

Key Benefits

• Easy buying process
• Option of receiving death benefit as lump sum or monthly income
• Choice of cover option
• Flexibility to increase the sum assured on important milestone of your life
• Option of single, limited and regular premium payment

Eligibility

Particulars

Minimum

Maximum

Age

18 years

65 years

Sum Assured

Rs.25, 00,000

No limit

Policy Term

10 years

40 years

Maturity Age

28 years

75 years

Minimum premium

Rs.3, 000 (annually)

3.Max Life OTP Plus Plan

This term plan provides a comprehensive protection solution at an economical price. It offers lump sum benefit to the nominee, which is equal to the sum assured.

Key Features

• Option of 3 death benefits
• Easy online application process
• Premium discount for non-smoker and female
• Availability of accidental death benefit and waiver of premium rider
• Discount on high sum assured

Eligibility

Particulars

Minimum

Maximum

Age

18 years

60 years

Sum Assured

Rs.25, 00, 000

Rs.100 crore

Policy Term

10 years

35 years

Maturity Age

• p>

75 years

Minimum premium

• p>

4. Reliance Life Online Term Plan

It is a pure term insurance plan which is available at an affordable cost.The availability of buying this term insurance plan online, makes the application process very easy and quick.

Key Features

• Reward for healthy lifestyle
• Simple medical examination process
• Flexibility in choosing protection cover
• Easy and quick application process

Eligibility

Particulars

Minimum

Maximum

Age

18 years

55 years

Sum Assured

Rs.25,00,000

No Limit

Policy Term

10, 15, 20, 25, 30, 35 years

Maturity Age

28 years

75 years

Minimum Premium

Rs.3, 500 (annual)

5. Exide life My term insurance plan

This plan offers a total financial security at a minimal cost with the option of family income benefit and flexible premium payment option.

Key Features

• Availability of terminal illness benefit
• Two options of receiving death benefit
• Discount in premium for female lives
• Discount in premium for non-smoker
• Reabte in premium for higher sum assured

Eligibility

Particulars

Minimum

Maximum

Age

18 years

65 years

Sum Assured

Rs.25 lakh

Rs.25 crore

Policy Term

10 years

35 years

Maturity Age

• p>

75 years

Minimum Premium

Rs.2000 (annual)

6.Tata AIA Life insurance iRaksha Supreme

It is a non-linked, non-participating online term insurance plan. This plan comes at a very attractive and affordable price. You can buy this term insurance plan at the convenience of your location and time.

Key Features

• Discounted Premium rates for female lives
• Choice of premium payment
• Preferential premium rates for non-smokers
• Discounted rate of premium for high sum assured
• Hassle free buying process because of online availability

Eligibility

Particulars

Minimum

Maximum

Age

18 years

70 years

Sum Assured

Rs.50,00,000

No Limit

Policy Term

10 years

40 years

Maturity Age

• p>

80 years

Minimum Premium

Rs.3,795

7. ICICI Pru Iprotect Smart

This plan offers you complete protection with option of enhancing cover against critical illness and accidental death also. This plan covers all your term insurance need at a very economical price.

Key Features

• Enhanced cover
• Discounted premium rates for non-smoker
• Flexibility in premium payment
• Special premium rates for women
• Option of receiving death benefit as monthly income

Eligibility

Particulars

Minimum

Maximum

Age

18 years

65 years

Sum Assured

• p>

No Limit

Policy Term

5 years

40 years

Maturity Age

23 years

75 years

Minimum Premium

Rs.2,400

Online term insurance policy makes the process of buying a policy, very easy and quick. Online term insurance policies are available at a very affordable rate with high cover. Search, compare, analyze and choose the best term insurance policy by sitting at your home in minimal time.

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