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Here's What You Need to Keep in Mind While Comparing E Term Plans

Here's What You Need to Keep in Mind While Comparing E Term Plans

After the impact of the Covid-19 pandemic on a global level, everything has become digital. From education to shopping to buying life insurance plans, everything can be done online.

The impact of Covid-19 has made everyone realise the importance of having a financial safety net. Moreover, the rising cost of inflation rates has made it difficult for us to manage our expenses. Investing in an E-term plan has become one of the best ways to provide a financial safety net for ourselves and our loved ones. So, if you are planning to compare and invest in an E-term plan, you have come to the right place. In this article, we will look at a few things you should keep in mind while comparing E-term plans online.

Yours and Your Family's Financial Requirements

We all have different financial requirements and goals. Therefore, it is important that you know your and your family's future financial requirements before you invest in an E-term plan. This will ensure that you choose the E-term plan that fulfils your financial requirements and ensures that you do not face any constraints in the coming years.

Opt for a Plan That Provides Affordable Premiums

The policyholder has to pay a certain amount of premium to the insurance providing company to avail of the policy benefits. Before you invest in an E-term plan, make sure to check if you can afford to pay the premium amount. This will ensure that you or your family do not face any financial hassles while paying the premiums in future.

Choose a Trusted Life Insurance Company

Apart from comparing and choosing the best E-term plan for your financial requirements, it is also important to compare and choose a reliable life insurance company. You can compare and check the reliability of the insurance providing company by checking their claim settlement ratio. The claim settlement ratio is the number of claims settled by the company per 100 claims received by them.

Premium Payout Options

The policyholder can choose different premium payout options for the E-term plan according to his or her convenience. Different premium payout options for the E-term plan are as follows –

  • Monthly basis
  • Quarterly basis
  • Half-yearly basis or
  • Annual basis

Option to Choose Additional Rider Benefits

It is important for the policyholder to check for the availability of additional rider benefits while investing in an E-term plan. Additional rider options provide the policyholder with additional benefits and a larger cover under one policy. The policyholder can choose from numerous additional rider options, such as

  • Waiver of premium rider benefit
  • Accidental death rider benefit
  • Critical illness rider benefits, etc.

Option to Choose Waiver of Premium

In case of an untimely demise of the policyholder, the financial burden of paying the premiums can fall upon the family. This might cause financial constraints and make it difficult for the family as well. While planning to invest in an E-term plan, make sure that you choose the option of waiver of premium. This will ensure that even if the policyholder is not around to provide financial help, the family will not have to face the financial constraint of paying the premiums.

Your Way Forward

You now know a few things to keep in mind while comparing term insurance and choosing an ideal E-term plan for your and your family's financial requirements. Investing in this plan will ensure that you and your family and financially secure in the hard times of rising inflation rates. So, if you are planning to invest in an E-term plan, then Bharti AXA is your ultimate destination. We provide one of the best E-term plans in India for you to consider investing in.

For more information on the E-term plan, get in touch with us today.

Disclaimer :

*Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time’

The article is meant to be general and informative in nature and should not be construed as solicitation material. Please read the related product brochures for exclusions, terms and conditions, warranties, etc. carefully before concluding a sale.
Make responsible financial decisions. Consult with your financial advisor before making any decisions on insurance purchase.

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