Insurance stands for providing protection against a possible eventuality. However, many Indians take on insurance as a tax saving benefit. Being insured and getting your family insured is a duty of every responsible citizen and it is important you consider how a policy can benefit your family before signing up.
But picking an insurance policy is not child’s play. It can be a cumbersome process if you aren’t aware of your needs. The simplest form of protection plan you can buy is a Term Plan.
In my search for the best Life Insurance plan, I discovered a plan I wanted to review- Max Life Online Term Plan. As the name suggests, it’s a plan by Max Life Insurance and is a feature rich term plan which would suit to almost everybody.
Now, what is Term Insurance?
Term insurance is a life insurance product offered by an insurance company that provides financial coverage to the policy holder for a specific time period. If the insured individual passes away during the policy term, the beneficiary receives the death benefit from the company.
Since life is uncertain and unpredictable, it is quintessential to buy insurance for the benefit of your family.
Max Life Insurance offers the following Term Plans –
Max Life Online Term Plan is customizable as per your needs. There are three types of Term Plans, starting from basic cover to life cover plus increasing monthly income. So it fits different families’ budgets depending upon their income capacity.
Certain factors must be taken into consideration whilst choosing a Term Plan –
- The Ideal Cover Amount
- Income Factor
- Life Stages
- Flexibility and Riders
- Claim Settlement Ratio
- Liability
Here are the 4 ways in which Max Life Online Term Plan helps:
Explore the options offered by Max Life Insurance and be sure to consult your financial advisor before picking the option that best suits your and your family’s needs.
