Best Term Insurance Policy 2019


One of the best ways to secure the financial future of your loved ones is to buy a term life insurance policy. Today, there are hundreds of options to choose from. But how to pick the best. Read on to know some of the best term plans 2019.

We all know that having a robust life insurance cover is necessary to protect the family members in the event of any mishap. A term insurance plan is a great way to secure the financial future of loved ones. It is the general notion among people that term insurance does not provide sufficient coverage as it does not provide any maturity benefit. But, the truth is, the term plans provide high coverage at an affordable premium. Let us look at some of the best term insurance policies you can consider buying.

HDFC Life Click2Protect Plus Term Plan

HDFC Life is one of the most popular insurance providers in India. The company offers a wide range of insurance plans to suit the different needs of the buyers. One of the best-selling term plans offered by HDFC Life is the Click2Protect Plus term plan. It is an excellent term plan that provides but life cover as well as an investment opportunity. The plan is meticulously designed to provide comprehensive coverage as well as financial stability to the family of the buyers. Some of the best features of this plan include:

  • You can increase the life cover at any time you want as you accomplish many milestones in your life like marriage or childbirth
  • You can buy additional riders to suit your needs. There are plenty of riders to choose from including premium wavier benefits, accidental cover and critical illness cover
  • You have the flexibility to select the pay-out mode. You can receive the amount as a lump sum amount or as monthly settlement
  • The tenure of the policy ranges from 10 years to 40 years. You can choose the duration based on your needs
  • Another significant feature of this plan that makes it a hit among the buyers is that it allows you to choose the mode of payment for the death benefit. You can choose between a lump sum one-time settlement or as monthly income after 15 years.

Max Life Option Term Plan

The Option term plan by Max Life is a simple term life insurance policy that assures complete protection to the family along with the benefit of optional cover. With a settlement claim ratio of 93%, it is undoubtedly one of the best terms plans in the market that you must consider buying. Some of the best features of the plan include:

  • In the event of the demise of the policyholder, the plan offers 100% sum assured to the beneficiary
  • It comes with a free 30 days lock-in period
  • It allows you to buy additional riders for a comprehensive coverage
  • You get a discount on the premium for a higher sum assured
  • Female policyholders and non-smokers can avail a discount on the premium
  • You have the flexibility to choose from three pay-out options

SBI Life eShield

When it comes to insurance, SBI is one of the major players in the market. The Life eShield plan is an online term insurance policy that is designed to provide life protected to the family of the insurance at an affordable cost. Some of the key features of the plan include:

  • The Life eShield plan gives you the flexibility to choose from four life cover options
  • If you choose the increasing level cover option, your sum assured will increase by 10% after every five years
  • The plan allows you to choose add-on covers like the death benefit plan and the accidental death cover for a more comprehensive protection
  • All female and non-smoking policyholders are subject to avail a discount on the premium cost

Apart from the plans mentioned above, there are many other term plans that you can consider. Make sure that you compare the policies well and choose the best term insurance plan to your needs.

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