I am looking for a term insurance of ₹1 crore. This is 10 times my yearly take home. I need advice on which is the best available term plan in the market which covers all the risks and has credible and hassle-free claim settlement. The policy should cover death by all scenarios including natural disaster (flood, tsunami, earthquake terrorist attack, riots, etc.
- S B Shah
Term plans should be selected after taking into account the claim settlement ratio of the insurance company and comparing the the premium offered by the insurer with its competitors. Based on these factors, we think you can consider buying a cover from Aegon Religare iTerm Plan, HDFC Life Click2Protect, Max Life Online Term Plan, Bharti AXA Life eProtect, etc. All these companies offer online term plans. Find the premiums applicable to your age under all these policies and select the one that suits your budget. Disclose all the details while filling proposal form to avoid any inconvenience while making a claim. All these policies generally cover death due to natural disaster, however, some may not cover war, riots, terrorist attack, etc. You should confirm this with the insurer before finalising the purchase.