Plain Term Insurance Plan

Term insurance plan is a low-cost plan which is offered by insurance companies who offer comprehensive financial coverage against premiums paid to the beneficiary of the policies if the insured passes away during the policy term. One of the safest and finest insurance policies, this plan provides financial protection and also pays off active car loans, housing loans, etc. The term insurance plan is an apt pick to keep your family financially equipped in case of sudden death or critical illness of the insured. You can also enhance your plan by adding various riders to it. This extended plan helps you to cover certain factors which won’t be covered with a plan term plan.

Increasing Term Insurance

Under the increasing term insurance plan, the insured has the choice to increase the sum assured on an annual basis during the tenure of the policy, whereas maintaining the premium amount at the same time. Due to this, the premiums of this plan are comparatively higher to other term plans.

Decreasing Term insurance

The decreasing term insurance plan is opposite to that of the increasing term insurance plan. Under this plan, the sum assured keeps on decreasing annually to meet the decreasing insurance needs of the insured. This plan works for certain situations wherein the insured is under huge debts or is paying EMIs.

Income Benefit Term Insurance

Under this plan, the insurer promises to pay the nominee a percentage of the sum assured every month for a specified number of years. If the insured passes away during the term of the policy, the nominee will receive a regular monthly cash flow due to the loss of the monthly income.
Group Term Insurance

Joint Term Insurance

The joint term insurance plan helps to cover you and your better half under a single policy. Under this plan, it is now possible to cover your spouse under a single plan by opting for a joint term plan. The plan is designed such that it covers both the life in a single policy and comes with a combined premium.
This term insurance plan offers coverage to a group of people under which it provides financial support to the employee’s family in the event of death. This plan has become one of the fundamental constituents in benefit packages provided to the employers to the employees.