Online Term Insurance Comparison

 Introduction

Life insurance plans are term plans which can be brought by people to secure the financial needs of their family members in case of their sudden demise. A term insurance plan is a simple and steady way to save money for your family, especially if you are the sole breadwinner. Apart from financial protection to one’s life, term life insurance plans also offer tax benefits, medical bills reimbursements, etc.

 

There is a range of term insurance plans available in the market to choose from. Read the term insurance policy comparison of two such good policies below before purchasing any term policy plan.

What is Smart Protect Goal Term Insurance?

The Smart Protect Goal Term Insurance is a premium payment risk-term recovery plan. The plan is packed with many features, benefits, and additional covers that help people in times of emergency without affecting their financial plans. This package has an excellent track record and reviews given by the customers. The insurance amount is also credited lump-sum to the customer’s account and not in instalments.

 

This term life insurance plan has features like -

 

• Comprehensive cost coverage

• Low premiums

• Customised plans

• Flexible benefit add-on options

• Tax benefits

What is Group Term Life Insurance?

Specially designed for working individuals, a Group Term Insurance is an insurance plan provided by the employer to ensure the financial safety and security of your family and near and dear ones. This term insurance plan comes with a death benefit, i.e the insurance money is given to the family of the individual in case something happens to the person.

 

It is a group insurance policy and financial coverage is provided to the employee’s family. The main aim is to provide monetary benefits to the family to ensure that they do not have to face any financial trouble after the demise of the earning individual.

 

This term life insurance plan has features like -

 

• Gratuity funding

• Pocket-friendly premium

• Flexible add-on options

Which is better - Smart Protect Goal Term Insurance or Group Term Life Insurance?

Smart Protect Goal Term Insurance and Group Term Life Insurance plans are both available on the Bajaj Markets app and website. Both policy plans have their ideal client base which is two different categories. However, to make quick-term life insurance comparisons, take a look at the table below -

Difference Between Smart Protect Goal Term Insurance And Group Term Life Insurance

Below table makes term policy comparison for clear understanding -

Factors to Consider Before Making a Decision

Before choosing any term insurance plan, it is important to consider the following factors to compare term plans online as well as offline -

• Premium Payment

  While reviewing the term insurance plans, go for a term policy that offers a variety of payment interval options like monthly, quarterly, half-yearly or annually.

• Payout Pattern

  You should also consider the structure in which you will be receiving the coverage in the future. It can be lump-sum, partial monthly, or quarterly payments.

• Coverage Level

  The coverage level also plays an important role in choosing the best term insurance plan, the options include increasing, decreasing, or level coverage.

• Premium Return

  While comparing term insurance plans, it is better to choose a plan which provides maximum premium return benefits. In this, the entire premium amount paid by the holder is paid back to the holder if the policyholder has outlived the tenor.

• Trustworthy Company

  Make sure you choose a company that is trustworthy and reliable. It should have a good reputation in the market with stable past performance.

Conclusion

Term insurance policy comparison is an essential step in getting term insurance. It enables individuals to have insights into policy features and plans helping them to make an informed decision, after considering all the important factors. These insurance plans are not just investments but are financial safety shields for your family members in case something unfortunate happens to you.