Why term life insurance in India is a better option

Due to their low cost and flexible nature , term life policies have become increasingly popular in India.Term life insurance India has also become relatively cheaper in premium giving high coverage due to this rise in competition amongst different insurance policy companies.The following are a few factors which one should keep in mind before buying a term life insurance in India: a)Amount of sum insured: It is said to be ideal to invest 15 times his or her annual income if one’s age is less than 40 , 10 times if his or her age is between 40 and 45 , and 5 times if one’s age if 45 or more. b)Term of the policy: The younger one’s age , the longer should be the term of the plan invested in. The duration of the term should approximately be the difference between the age at which one’s financial liabilities would reduce (retirement) and one’s current age. c)Who and where to buy from: It is vital that one does a thorough research instead of rushing to a decision over the insurance. This is because it is a very large and important investment and it is absolutely necessary that it pays off. d)When to buy: They say , ‘A stitch in time saves nine’. Following the saying , it is pretty clear that the best time get a term life insurance is this very moment. This is mainly because the contract a term plan becomes very risky if the applicant contracts a certain disease. This in turn would reduce one’s life expectancy and would lead to a major hike in premium. This makes entry into the term plan very risky. Thus , to ensure the future for you and your loved ones , it is needed that you act now. Usually , people go through a lot of trouble in finding the right term insurance policy. They need to find the different life insurance quotes from different companies and this requires a lot of money and movement. However , all this fuss could be avoided by obtaining free Term life insurance quotes online from the internet. This may save a lot of valuable time and money for individuals. The other advantage in buying free term life insurancequotes online is that there is no compulsion in buying the insurance policies after buying the quotes. And if , by any chance , the consumer does end up taking the online quote to his liking , he can then buy the policy online. Online application forms are available for submission to get free term life insurancequotes online. After receiving these quotes , the individuals may select the best plan suited for them through the internet.Now , it has become very easy to calculate the amount of money required for a person to get his or her desired mediclaim policy through a mediclaim policy premium calculator. Through this , it can be calculated how much premium is needed for the required mediclaim policy. These mediclaim calculators are available online on the sites of reputed mediclaim companies such that the sum required by their policy can be found out in a matter of minutes.