Is term insurance the best form of insurance?
Term insurance is the best form of insurance as it gives a very high coverage at a low price. The premium of a term insurance plan is a fraction of what you have to pay for buying an endowment, moneyback or unit-linked insurance plan (ULIP) with the same coverage.
How to choose the right term insurance plan for You?
Opt for a critical illness rider where the life insurance company pays a lump sum amount if you are diagnosed with a critical illness covered under the plan. However, riders are additional benefits, and you incur a slightly higher premium on term insurance. It would help if you chose only riders that you need with the term insurance plan.
Which is the best term insurance plan in India?
If you are looking for a term insurance plan, I would suggest you buy the iSelect Star Term Plan from Canara HSBC OBC Life. I find the plan to be the best term insurance plan in India due to the following benefits: Nowadays, online is the marketplace for almost everything, including the best life insurance plans.