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
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>
Minimum premium
- p>
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>
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>
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>
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.