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Top 10 Best Term Plans To Buy To Secure Family Future

Top 10 Best Term Plans To Buy To Secure Family Future

We all want the best for our family and wish to see them having a healthier, happier, and financially free future. But life is so uncertain that anything can happen at any time, especially during the COVID-19 pandemic era. Imagine you encounter a sudden accident and lost your life, now who will take care of your family, and child’s education responsibility? That’s where ‘Term Insurance’ comes into play. It’s a popular insurance scheme that looks after your family's survival in your absence. In this guide, we have showcased the top 10 best-term plans to buy that offer a secure future to your family.

Term Insurance Plans in India 2022

These are some of the selected term insurance plans that are affordable, safe, and trustworthy,

  1. HDFC Life Click 2 Protect Life

Claim Settlement Ratio: 99.07

Sum Assured: 50 Lakhs- Unlimited

Sample Annual Premium: INR 7,185

  1. ICC Pru iProtect Smart

Claim Settlement Ratio: 97.84

Sum Assured: 50 Lakhs- Unlimited

Sample Annual Premium: INR 8,021

  1. Max Life Smart Secure Plus Plan

Claim Settlement Ratio: 99.22

Sum Assured: 25 Lakhs to 3.5 Cr

Sample Annual Premium: INR 6,095

  1. Tata AIA Life Insurance Sampoorna Raksha Supreme

Claim Settlement Ratio: 99.06

Sum Assured: 50 Lakhs to No Limit

Sample Annual Premium: INR 6,844

Also Read: How to Pick a Term Insurance Policy- 10 Tips to Choose the Best Term Plan

  1. Aditya Birla Life Shield Plan

Claim Settlement Ratio: 97.54

Sum Assured: 50 Lakhs to Unlimited

Sample Annual Premium: INR 5,591

  1. PNB MetLife Mera Term Plan Plus

Claim Settlement Ratio: 97.18

Sum Assured: 25 Lakhs- 2 Cr

Sample Annual Premium: INR 6,490

  1. SBI e-Shield Next

Claim Settlement Ratio: 94.52

Sum Assured: 50 Lakhs- Unlimited

Sample Annual Premium: INR 7, 519

  1. Bajaj Allianz Smart Protect Goal

Claim Settlement Ratio: 98.02

Sum Assured: 50 Lakhs to 10 Cr

Sample Annual Premium: INR 7,348

  1. Kotak e-Term Plan

Claim Settlement Ratio: 98.50

Sum Assured: 25 Lakhs to No Limit

Sample Annual Premium: INR 5,250

  1. Edelweiss Tokio Total Protect Plus

Claim Settlement Ratio: 83.44

Sum Assured: 25 Lakhs to No Limit

Sample Annual Premium: INR 4,902

Also Read: Best Car Loan Interest Rates 2022: Full Comparison, Eligibility Criteria, Processing Fee, Etc

Benefits of Buying a Term Insurance Policy

  • Financial Security

It’s an excellent way to create a financial safety net for your family. It provides security to policyholder’s dependents in case of sudden demise.

  • Greater Returns

It fits everyone’s needs. Term insurance policy results in higher returns of the order of 105% return upon maturity.

  • Flexibility

Term insurance provides the flexibility of purchasing a policy offline or online. It doesn’t insist on a health check-up if the plan falls under Rs. 50 lakhs or less.

  • Tax Benefits

Under section 80C of the Income Tax Act, premium plans offer a tax deduction facility that gets received by the nominee.

  • Riders

Term plans offer extra protection through the usage of Riders. It can be bought from any of the reputed insurance companies at a minimal cost.

These are the top 10 best term insurance plans to buy for your family security. Pay a low premium and get higher returns to fulfill your family's financial needs.

Also Read: 7 Best Investment Options For Every Type Of Investor

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Mostly found in cozy corners or near a cat. A mess of thoughts, wild hair and often lost. Dreaming about world tours and ice-creams. Buys five books a month and reads one.