Insurance is one of the most important things a citizen needs. You never know what might happen at some point in your life. Insurance makes sure you don’t worry about the money issue. Nowadays, insurance companies give almost 97% of claim settlement in case something happens. There are many different insurance policies in India. Each one has its own advantages and disadvantages. To make it clear for you, here are the best ones we know. We will tell the reason as well.
Best Insurance Policy In India
LIC of India
This insurance plan is non-linked and makes sure that the family is insured in case of the unfortunate demise of the person. It has an entry age of 18-65 years. Premiums paid every year is applicable for deduction from the taxable income under the Income Tax Act, 1961. Freelook period is provided by the company so they can return the policy (in that duration) if (s)he is not satisfied by its clauses. It has a minimum assured amount of 50 lakhs.
Find out more about LIC insurance plan here
The insurance full name is SBI Life eShield. It is a non-linked and non-participating insurance plan, which offers high coverage at fewer premiums. SBI Life eShield offers 2 plan options which are Increasing Cover and Level Cover. Terminal illness benefit is a benefit for both the structures. If you decide to go with increasing cover, your sum amount will increase by 10% every 5 years.
Find out more about SBI Life plan here
HDFC Click 2 Protect 3D Plus Term Plan
This is similar to the above plans as well. But if you are a female or a non-smoker, you would get it for a low price and great benefits as well. The plan offers the utmost flexibility to choose premium payouts, policy period, etc. This insurance has 9 different plans to choose from based on your requirement. It also has regular payments in return for tax payments as well which is important to a few people.
Find out more about HDFC Insurance plan here
ICICI Prudential Life Insurance
ICICI Prudential Life Insurance is one of the most important players in the insurance sectors in India. They offer term insurance plans, endowment plans, etc. in order to match various financial needs. It has a capital value of Rs. 48.16 billion which is based on 2015. It has multiple plans such as life insurance, retirement insurance, health insurance, and many more. This is a really great one out of all.
Find out more about ICICI Prudential Life Insurance here
Life insurance is the most important one of them all. Cause you never know what might happen to you tomorrow. So it is important to plan one out where your loved ones will not suffer because of your demise.
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