Best Insurance Policy

Plan for the uncertainties in life with the right life insurance policy, remember your future is determined by what you choose to do today. The right time to get life insurance may vary from one person to another but the real thing is when it comes to purchasing life insurance, the younger, the better. So, you have to go for the best insurance policies in india.

It is important to have life insurance if others depend on you financially. Buying insurance online at the earliest saves you both time and money. As the prices are increasing with each passing year. Also, permanent life insurance carries a cash value component which means the longer the policy last, the cash value increases over time.

Life Insurance

Life insurance is a contract between the life insurance company and an insured, it is one of the best financial security that you can offer to your family in your absence (untimely death). Life insurance is regarded as one of the cheapest policies in the insurance market and it is simple as well.Did you know? While purchasing a life insurance one can choose the term period as well as the riders which helps to enhance the value of the policy by providing additional benefits. Upon the sudden demise of the policyholder, the insurance company pays a lump sum amount to the nominated beneficiary in exchange of a premium. The premium amount can be paid as a single premium or on a regular basis premium rate.

Online life insurance plansBuying a life insurance policy online is easy, simple and saves time. There are lots of benefits as well that one receives if he/she chooses to purchase a plan online. The benefits include tax benefits under Section 80C and death benefit in the form of low premium along with high assured sum. At Wisdompolicy, you get the opportunity to select and compare various policies at one platform and not only that you can get free quotes, online assistance to ensure that you don’t face any kind of difficulty while purchasing a policy that best suits your needs.

Why do I need a life insurance plan?

Life insurance plan takes care of a lot of things, the most important one is that it provides some amount of financial support to the family if the insurer dies too soon. It also ensures an extra income source if there occurs a reduction in the earnings due to an accident or critical illness. Life insurance also caters to the needs of your child’s education and more.

Documents required to buy a life insurance policy

Keep the following documents ready as soft copies (if you are purchasing online) else hardcopies are required-

  • Income certificate
  • Address proof (driving license/passport/ration card/3 months utility bills/saving account bank statement/aadhaar card/voter ID)
  • Age proof (PAN card/aadhaar card/driving license/passport/voter ID)
  • Identity Proof (Aadhaar card/passport/voter ID/ PAN card)
  • Proposal form or insurance application
  • Police declaration (in case someone else has filled the application or policy proposal form)

A comparative table highlighting the features of the best Life insurance policy plans in India

Insurance Plan

Entry age
(Minimum to Maximum)

Policy term

(Minimum to Maximum)

Sum Assured

(Minimum/Maximum)

Bajaj Alliance Insecure

18 to 70 years

10 to 30 years

20 lakh/no upper limit

LIC Jeevan Amar

18 to 65 years

10 to 40 years

25 lakh/no upper limit

Kotak Life Preferred e-term

18 to 75 years

10 to 40 years

25 lakh/no upper limit

Max life online term plan

18 to 70 years

10 to 35 years

25 lakh/100 crores

Aditya Birla Sun Life Shield Plan

18 to 65 years

10 to 20/30 years

25 lakh/no upper limit

PNB Metlife Mera Term Plan

18 to 65 years

10 to 40 years

10 lakh/no upper limit

TATA AIA Life Insurance Sampoorna Raksha

18 to 65/70 years

10 to 15/40 years

Rs 50 lakh/no upper limit

Benefits of life Insurance

Some of the benefits of health insurance that helps to better secure the future of your family include-

  • No loan burdens

Repay loans without the risk of losing any valuable asset or getting tensed about arranging fund to pay the loan in time

  • Secured financially

The financial aid that one receives from the insurance company acts as a shield against debt and protects the family future and life-goals

  • Retirement planning

Life insurance that has annuity-based plans, allows monthly pensions on the maturity of the plan and you can also plan for a stable retirement

  • Tax benefits

For Insurance premium paid plans, you can get annual tax deductions up to 1.5 lakh (under section 80C)

  • Child’s future security

With life insurance plan in your life, you can encourage your child to dream big and fulfil their education requirements without any kind of stress or hurdles.

How to save your time while finding the best life insurance?

The answer is, get your life insurance policy online. Yes, you can easily purchase an online policy of your choice while sitting at home via a secured and safe online payment method. Wisdomolicy is a web aggregator where you can compare various policies and lookout for the best deals in the insurance market. Get free quotes, save yourself from the hassle of running from one office branch to another and the best part is no third-party agent is involved.

The difficulty with an agent arises as they only focus on their own insurance products, with no scope to view what other insurance companies got to offer. At Wisdompolicy you get the opportunity to get access to a wide range of insurance policies to choose from. As a user gets to compare policies, he/she can purchase a policy at the lowest price insured by the insurance company.

How to select the right life insurance Riders?

Riders are additional benefits to your insurance policy, can also be regarded as an add-on, which one can get by paying a premium (may vary from one rider to another). List of some of the riders are-

  • Term rider
  • Critical illness
  • Waiver of premium rider
  • Family income benefit
  • Surgical assistance benefit rider
  • Accidental death and permanent disability benefit

Our services

  • Health Insurance
  • Life Insurance
  • Home Insurance
  • Travel policy
  • Car Insurance
  • Bike Insurance

FAQs

Who can claim life insurance after death?

The legal heir or nominee can claim life insurance after the death of the insured.

What is the average life insurance payout?

The average life insurance payout depends on several factors like terms and conditions, age, nature of the occupation, gender, paid premium etc.

How to revive a lapsed life insurance policy?

Renew your policy on time to avoid any kind of lapse and enjoy all benefits but if due to any circumstances you fail to renew, all you need to do is submit a valid proof of the delay and then pay the premium. The insurance company may charge a penalty amount for the lapse.

What is paid-up value in a life insurance policy?

The reduce in sum assured by the insurance company in case the policyholder fails to pay a premium for the policy lapses and policy on time.

Can I have more than one term insurance policies?

Yes, you can have more than one insurance plan from different insurance companies.

Can I withdraw money from my life insurance?

From your life insurance you can get an offer of the death benefit and build cash value, which one can use to borrow cash.

What happens if a policyholder doesn’t add any beneficiary?

If due to any reason the policyholder doesn’t add any beneficiary, the death benefit will get transferred to his/her legal heir or else the amount will go to the estate.