Getting insurance is necessary for everyone, but whenever it comes to insurance, some people often wonder why to invest money in a place where returns will not be available. Let me tell you that insurance is an expense and not an investment. By getting insurance you protect yourself and your family.
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In such a situation, if you want to get life insurance, then a term insurance plan is the best for it. OneIndia compared 5 select term insurance plans for you and found that you can get life insurance of Rs 1 crore by paying a minimum of Rs 22. The 5 companies we have compared have been compared according to the insurance cover till the age of 65 years.
Under the term insurance plan of ICICI Prudential, if you insure till the age of 65, then you have to pay a premium of Rs 11,470 annually, under which you will get insurance of Rs 1 crore. In this way, you have to pay 31.42 rupees daily and you will get an insurance cover of 1 crore rupees till the age of 65 years.
The company provides insurance till the age of 69 years. If you have to insure till the age of 69 years, then you have to pay a premium of Rs 12,674 annually. The company has so far settled 96.20 percent claims.
Under HDFC Life, you will have to pay Rs 11,283 annually on taking term insurance and you will get an insurance cover of Rs 1 crore for the age of 65 years. In this way, the burden of this insurance on you will be just Rs 30.91 daily.
On the other hand, if you want insurance cover for 69 years, then you have to pay a premium of Rs 11,952 and you will get an insurance cover of Rs 1 crore. The company has so far settled 95.02 percent insurance claims.