First experience with life insurance for most of us is when our friend or relative gets an insurance agent license. Unfortunately, we don’t buy it, it is sold to us. But I believe this is wrong, and we should understand the importance of buying a life insurance. Today, I will tell you all the importance of buying a term life insurance and an online platform which can aid in this process.

Firstly, what is term life insurance plan?
It is a life insurance policy that pays an amount called sum assured (death benefit) to the beneficiary if the policyholder dies during the policy term. It has no maturity benefit. A lot of my friends have been covered for a sum assured of Rs. 50 Lakhs and above.

But I do not have Rs. 50 Lakhs!
You do not need to pay so much to the life insurance companies. You can get a coverage of Rs. 50 Lakhs or whatever Sum Assured you choose at a very nominal price. If bought at an early stage of life, it costs lesser than 20 minutes of phone call a day.

But what if I don’t die? All the money is lost!
Our ultimate purpose of life is to live, right? So it is good if we live 🙂 And by paying a very nominal amount, we get the insurance to secure the lives of our loved ones, financially. I know that the emotional loss can never be paid, but our family getting the much required money at the time of need will help them live a decent life in case of any unfortunate event.

So, where do I buy it from?
I recently came across this website – https://www.onlinelifeinsurance.co.in/ and recommend you all to buy their eSmart Term Insurance Plan.

More about https://www.onlinelifeinsurance.co.in/
1) You can buy from their website by an easy 4 steps online process.
2) It is an initiative by the CHOICe Insurance which is a symbol of unification of three banking organizations (Canara Bank, HSBC & Oriental Bank of Commerce). These have a financial expertise with experience of 300 years through 8000+ branches dedicated to 60 million customers across India.
3) Get a cover of INR 50 Lac for as low as INR 3878 p.a.*
4) It is quite a cheap life insurance as compared to the life insurance quotes I got from their competitors.
5) You get tax benefits for the premium you pay.
6) It allows you to break up the sum assured into lump sum payments and monthly payments in any way desired.

July 27, 2016
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