Wednesday, July 14, 2010:
Not many of us know that Term insurance is the purest form of insurance which is the most important tool for preventing any family from financial hardships in case of the unfortunate death of the family's breadwinner. It is a protective roof on a family's head which shields it from any such eventuality.
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This is the cheapest form of insurance which everybody should go for. Basically there are four types of term insurance: Level term, Increasing/Decreasing term insurance, Loan Cover term insurance and Return of Premium. The price and feature comparison engine apnapaisa.com provides the complete details about the term insurance policies available in India. The research here caters to 20 life insurance companies, which offers Level Cover term insurance and about 26 products to choose from.
The compare quotes of Term Insurance on www.Apnapaisa.com is a platform where in one can compare various products offered by all the insurance players in India. You can click on the tool www.apnainsurance.com/term-insurance-india/compare.html which has been build after taking into various parameters like maximum policy tenure, grace period, optional riders available and premium amount. Maximum policy tenure implies that depending on a person's current age what will be the maximum years one can get risk coverage for. Grace period is a provision in insurance contracts that allows premium payment to be received for a certain period of time after the actual due date.
"Not only this, term insurance comes with riders like Critical Illness rider which pay a lump sum in the event of a critical disease, Accelerated sum assured rider where the insured person is paid the sum assured on being diagnosed as suffering from any of the critical illness. After the settlement of claim the basic policy is terminated. Then there is Accidental Disability/Dismemberment Benefit Rider which safeguards against disabilities, arising as a result of accidents, during the term of the insured's life insurance policy. Moreover, the waiver of premium rider waives the obligation to pay any further premiums", says Harsh Roongta, CEO, Apnapaisa.com.
Premium, an important component of the Term policy depends on factors like person's age, sex, occupation, health, habits & income source.
Term Insurance Premium Tool: One can search the premium amount payable on www.apnainsurance.com/term-insurance-india/quotes.html for various policies for tenures in the range of 5years to 40 years.
We believe that insurance is a protection tool rather than an investment tool, so term insurance becomes a must for every responsible person.
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