Which term plan should I buy?

I am 28 years old. Can you tell me what is the best policy for me?
- Chetan Reddy

Here are three plans you can consider buying. We have also provided the annual premium for you (28 years, non-smoker) for ₹1 crore cover for 32 years (so that it will cover you till your retirement at 60).

Max Life Online Term Plan: annual premium ₹6,900 (claim settlement ratio of 98.63 per cent)

Aegon Religare iTerm Plan: annual premium ₹7,866 (claim settlement ratio of 96.59 per cent)

HDFC Click2Protect plus: annual premium ₹9,380 (claim settlement ratio of 95.86 per cent)

You can add additional riders to your basic cover by paying an extra premium. Also, always remember to disclose all the details while filling proposal form to avoid any inconvenience in future while making a claim.

This article was originally published on March 22, 2016.