Life insurance is mandatory for everyone to protect themselves and their family during unfavourable and unseen critical circumstance. There are several plans available in the market satisfying the customer’s needs. The important things that every one of us see while enrolling to any insurance plans are the premium we are going to pay and the returns we are going get from the premium payments.
The costs of the life insurance depends on various factors such as the type of the insurance plans, the terms, the number of dependents of the policyholders, age of the policyholder , life style habits and sometimes the cost vary according to the insurance providers as well. There is not any definite amount for enrolling to a life Insurance. However, depending on the plans, the amount will vary between one rupees and up to INR 5 crores. There are certain important factors which decide the cost of your plan.
Sum assured – The premium you pay will be a reflection of the sum assured. If the policyholder wants the sum assured to be huge. Then the premium payments are going to be high. Sum assured will pay-out to you or your family at the end of the term.
Plan types – The premium you pay is for the coverage the insurance plan provides you and your family. If you chosen the term insurance, the premium payments will be lower than any kinds of insurance. If you have chosen whole life insurance plans, the cost for the premiums will be higher. Depending on types, the premiums will vary.
Age – It is always recommended to choose an insurance plan at a young age. If your plan is young and your term is high, the premiums you will be lower ultimately. Along with age, your smoking habits also matter. Sometimes your habits increase the premium payments.
Number of dependents – When you enrol you an insurance plan, you need to list all your dependents on the form. The more the number of dependents, the higher the cost of the life Insurance is and for higher life insurance policy, you need to pay more premiums.
When you choose the plan, be sure to consider the relevant factors and choose the best plan for yourself and your family.
Low cost plans
Different Life insurance plans serve different purposes. The purposes include high tax savings, high coverages, low premium payments, regular income, survival benefits are some of the advantages. Amongst all the available insurance types, the term insurance is the best low cost plan for highest coverages. The term insurances are designed for those who wants to protect and support their families at a very low cost. The range of the life insurance varies from 5 to 60 years. In case of the death of the policy holder, his/her family will get the sum assured.
There are several health insurance providers in the market. Some of the low cost plans offered on the market are LIC’s e-term, ICICI Pru Iprotect smart,HDFC life click 2, Max life online, Aegon Life Term. All these plans meet the low cost benefits requirement.
Best deals on Life Insurance
Life Insurance plan is important for everyone to protect themselves in their life. But more important thing is how you get a best plan for yourself. There are many factors, which mislead people while choosing their plans. The plans you choose should benefit you the most. It is important that the plan meet all your requirements. You can see the benefits listed on Coverfox and then choose the one which best suits your needs.
There are some best deals for you in the market.
- Sbi Life eshield – Best plan to protect your family during your absence offers higher returns on the premiums paid. The plan has policy term from 5 years through 30 years. It also has a minimum sum assured of INR 20 lakhs.
- HDFC Life Click 2 Protect plus – It protects your loved ones from all uncertainties for a longer period through income and income plus options.
- AVIVA ilife – Protects your family in a comprehensive manner through the nominal cost charged for uncertain circumstances.
- Future generali care plus – Offers you life coverage at an easy and affordable price.
The list will go on. There are several other insurance providers offer you some if the best insurance plans to give you a chance to protect your family.
It is always better to choose the right plan for yourself instead of regretting about it later on. Take the advantage of all the resources available to you and choose the best life Insurance for yourself to protect your family in all terms when you are not around.