All About Online Term Insurance
Term insurance is ideal if you want to save money and avail life coverage for a particular time span
. Term policies offer insurance coverage for a relevant tenure at fixed rates of interest and premiums. The prime goal if a term policy is to provide life coverage and reduce all the financial responsibilities of the policyholder. A term plan is an affordable and hassle-free life insurance that gives instant protection and flexible payment options. Lowest premium rates and availability on online term life plans are the important reasons why people choose theses insurance plans. Buy a suitable online Term Insurance policy and avoid all the troubles that usually accompany its offline counterparts.Benefits of term life policy
Term life plans are easy to understand. The terms and conditions of these policies are simple and comprehensive even for the beginners.
These plans are affordable and come with flexible payment options including regular and single sum premiums.
These plans offer basic life coverage therefore they are affordable. Some insurers offer additional riders like accidental death and critical illness insurance at additional premiums.
Along with life coverage, choose these plans to reduce other financial responsibilities like mortgage, business or education loans.
With online term plans you can buy a customized coverage at your convenience. You can also choose online payment options for the policy premiums.
Some insurers provide attractive introductory riders including waiver of premium, critical illness, female critical illness, free of cost accidental death and death in terrorist attacks.
Choose the suitable policy tenure from 5 to 40 years. With term life, you can enjoy insurance coverage up to 75 years of age.
Use your insurance policy as a tax saver policy. These plans give tax benefits under Section 80C of Indian Income Tax Act.
How online term insurance works
Online term life is simple and comprehensive even for the novices. When you decide to buy a term life policy, the first thing to do is to calculate the sum assured and affordable premiums. You can easily do that by visiting the website of your preferred insurer. They provide free online premium calculator for your assistance. All that you need to do is to choose the suitable policy and fill in the required details including your age, desired sum assured and tenure, medical information and other personal information. After filling in the information, you will get estimated premium quotes.
After you pay the initial premium, you will get a call or confirmation email. The insurer may also send a KYC (know your customer) representative at your home for additional details including personal information and other documentation. Depending on your age, you need to undergo a medical test. Keep in mind that results of your medical test affect the premium rates of your term plan. If some unknown medical complications evolve in the medical test then you can either pay the additional premiums or revoke the policy. Always provide correct personal information and medical history while buying any online insurance policy.
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