Life is always uncertain and unpredictable. So, all we can do is hope for the best and prepare for the worst possibilities, like leaving our family behind with financial burdens. Buying term plan insurance ensures life will go on for those left behind without any worries. But with so many options available in the market, how do you know which will be the best fit for you? Let’s check out the top 5 term plan insurances that can meet your needs and goals no matter what they are.
1. SBI Life eShield Next
If you want a truly comprehensive cover for your family, this plan would be the perfect option for you. This plan covers all your possible needs, from features like a choice of different plans like Level Cover, Increasing Cover, Level Cover with Future Proofing Benefit, terminal illness benefit, and additional coverage with optional riders. Plus, the term plan offers a great level of flexibility to cover your dependents.
- SBI Life eShield Insta
This plan also deserves a closer look. Buyers have two plan options and an entry age of 18. You can buy it anytime you wish online, and this digital term plan offers an annual premium that is quite reasonable for your chosen coverage.
- SBI Life Saral Jeevan Bima
Another term plan worth noting is this one, which is a standard policy at a truly reasonable price point. There are several options for paying premiums, and you can expect simple terms and conditions for maximum convenience.
- SBI Life Smart Shield Premier
This reasonably priced plan offers level and increasing cover choices along with enhanced financial protection. You can also choose an optional rider or accident benefit. This plan suits customers seeking flexibility regarding premium payments and higher coverage amounts.
- SBI Life Smart Swadhan Supreme
If you are in the market for a term plan with the return of a premium facility, this one is a good choice. It offers handsome coverage and reasonable premiums, which are returned if you survive the policy duration.
Why Start Early with a Term Plan?
Purchasing term insurance at an early age offers many benefits. Primarily, the premiums are lower when you are young and healthy to lock in affordable rates for life. Another advantage of getting in early is that from a timing standpoint, choosing an extended coverage period is possible, ensuring financial security during your high-income years and afterwards, too.
Finally, buying term insurance early on assures you a sense of relief that no matter what happens in life, your family will have a secure future. Whether single or married, think of a term plan as something for all to start. After all, it’s one of the most efficient ways to guarantee both you and your loved ones will be comfortable in the future.
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