3 minsNovember 28, 2016
Gone are the days when life insurance policies were exclusively provided by certain players. Today, several financial institutions offer various kinds of life insurance policies to their customers.
The common thread between all these polices is - to protect the financial needs of your family members even in your absence. Each policy will have variations to their offerings, so it is best to read the terms and conditions carefully.
- There are quite a few trusted websites, which give you a detailed list of the top life insurance policies in the country, their features, pros and cons, which will enable you to take an informed decision about the policy you wish to
purchase. You should compare life insurance offerings on the basis of premium rates, success rate of solution of grievances, success rate of claim settlement, maturity period, total sum insured, and money-back offers and other
features. Before you compare life insurance policies from various leading institutions, you need to be clear on your requirements and your affordability.
- Some life insurance plans focus only on providing benefits when an unforeseen event happens. At the time of your death, a lump-sum amount (premium + bonus) is paid to your nominee so that your family doesn’t face any financial
issues. There are some other plans provide good returns even when you are alive, by investing your premiums in ULIPs (Unit Linked Investment Plans) in diverse industries. Few other plans aim to give you a cash-back offer every
2 years or so, so that you will keep getting a reasonable amount of money at regular intervals till the time of your maturity period. Also, certain policies also allow the pay-outs to be inflation adjusted. A consumer should look
out for such aspects as well – add that
- Keep in mind
- To compare life insurance plans properly and to know which one would suit you the best, you should be aware of your risk appetite as well. Plans that invest your premiums in ULIPs
are slightly risky, but give good returns. Life insurance comparison will give you a clear idea on assessing your return on investments in a structured way. Therefore, this will guide you to choose the plan that aims to help you
reach your financial goals at every phase of life.