Term Insurance - Best Term Insurance Plan in India| The Policybazaar Show | EP - 10

Any financial planner will tell you that one of the first things you sit down and get a term insurance for yourself before you even start investing.

In this video Ashish Shrivastav managing director and CEO at PNB MetLife life insurance and Santosh Agarwal, chief business officer, life insurance at policybazaar.com talking about various aspects of term insurance.

When it comes to term plan coverage, it depends on your age, your present income, and current liabilities, etc. However, a rule of thumb is ten to fifteen times your annual income. Or rather sticking to the general formula of ten to fifteen times, if you are buying a plan at the age of 30, it should be 25 times of your income. Because as you are young, along with your income; your liabilities will go up. And with your age the approach should be in a decreasing order like when you are 40 it should be 15 times of your income or when you become 45 you could go for a coverage that is 10 times of your salary.

So, if you want to invest with lower premiums and take most benefits of the term insurance plans, you should start investing the best term insurance plan at early age.

Parameters of Choosing Right Term Insurance
* Credibility of life insurance company: If the company had been able
* If the policy only secures death or the other risk parameters called 3Ds, which stand for
Death, Disability and Disease
* Look for the riders that help you get comprehensive insurance coverage

Time Insurance Riders
Term insurance plans can be clubbed with below riders:
* Critical Illness Rider
* Waver of premium
* Accidental Death Cover
* Accidental Disability

No doubt, Term insurance premium is definitely one of the important factors while choosing the right term insurance plan for yourself. So, if you are 30 years old and want to invest in term insurance plans, remember that by just investing Rs 14000 in a year, you could get a term life cover of Rs 1 cr, along with the options to opt for various rider covers.

Last but not the list, you should look for the claim process of the insurance provider. A company with a high claim settlement ratio means the company had been able to pay the claims in the past and will definitely be able to pay the claims in the future as well. Term insurance policy bought basis on these parameters will always prove to be the best term insurance plan.

#TermInsurance #TermPlan #BestTermInsurancePlan

Know more about the term insurance here: http://bit.ly/388mSFg
Know more about term insurance benefits: http://bit.ly/37BFxs5

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