Cost Effective Online Life Insurance Policies

by Harjot Narula Compare Policy Insurance

When we talk about the cost-effectiveness of life insurance policy, the only thing which comes in our mind is term insurance policy. And that is true because having a term insurance policy gives you protection against life at a very minimal cost and with the availability of online term insurance policy, buying a policy has become very easy and quick. But there are numerous insurance policies available online and choosing the best one is very much necessary because you will be able to avail the benefits of your term insurance policy only if it is right for you. So in this article, we have mentioned some of the most cost-effective online term insurance policies to ease your process of buying.

1.Bajaj Allianz isecure plan

It is a non-participating term assurance plan which can be bought online only. It allows the policyholder to choose the term from 10,15,20,25 and 30 years. It also gives the option to cover your spouse under the same policy

Key Features

· Discount on high sum assured

· Benefit of level term cover

· Option to change premium payment frequency at policy anniversary

· Death benefit can be received as a substitute for monthly income

· Discount for maintaining a healthy lifestyle

Eligibility

Particulars	Minimum	Maximum
Age	18 years	60 years
Sum Assured	Rs.2, 50, 000 for smoker and Rs.20, 00, 000 for non smoker	No limit
Policy Term	10, 15, 20, 25, 30 years
Maturity Age	28 years	70 years
Minimum premium	Rs.3,000 (yearly)

2.HDFC Life Click2protect Plus Plan

It is a comprehensive coverage plan which is available at an affordable cost. This plan provides a wide range of additional coverage and policy term from 10 to 40 years.

Key Benefits

· Easy buying process

· Option of receiving death benefit as lump sum or monthly income

· Choice of cover option

· Flexibility to increase the sum assured on important milestone of your life

· Option of single, limited and regular premium payment

Eligibility

Particulars	Minimum	Maximum
Age	18 years	65 years
Sum Assured	Rs.25, 00,000	No limit
Policy Term	10 years	40 years
Maturity Age	28 years	75 years
Minimum premium	Rs.3, 000 (annually)

3.Max Life OTP Plus Plan

This term plan provides a comprehensive protection solution at an economical price. It offers lump sum benefit to the nominee, which is equal to the sum assured.

Key Features

· Option of 3 death benefits

· Easy online application process

· Premium discount for non-smoker and female

· Availability of accidental death benefit and waiver of premium rider

· Discount on high sum assured

Eligibility

Particulars	Minimum	Maximum
Age	18 years	60 years
Sum Assured	Rs.25, 00, 000	Rs.100 crore
Policy Term	10 years	35 years
Maturity Age	-	75 years
Minimum premium	-

4. Reliance Life Online Term Plan

It is a pure term insurance plan which is available at an affordable cost.The availability of buying this term insurance plan online, makes the application process very easy and quick.

Key Features

· Reward for healthy lifestyle

· Simple medical examination process

· Flexibility in choosing protection cover

· Easy and quick application process

Eligibility

Particulars	Minimum	Maximum
Age	18 years	55 years
Sum Assured	Rs.25,00,000	No Limit
Policy Term	10, 15, 20, 25, 30, 35 years
Maturity Age	28 years	75 years
Minimum Premium	Rs.3, 500 (annual)