Majority of people buy life insurance policies online as a long-term savings tool. Due to its wide range of benefits, this product is considered more trustworthy. The plan combined with the visions of an improved economic future has boosted the confidence level of Indians resulting to higher appetite for investment plans and savings.
Indian insurance market provides various savings and investment choices from mutual funds, pension funds, provident funds and bank deposits and so on. Insurance experts suggest customers to pay more attention to online life insurance plans especially during 2015.
Term plans offer different schemes to cater various life-stage requirements. Unit linked insurance products have undergone a drastic changes with lower charges and traditional plans also have been modified to provide higher returns to policyholders. Both products have been redeveloped to gain long-term benefits for the client.
Online life insurance India is the only financial tool which gives long-term guaranteed returns as well as income streams. It supports a long-term financial strategy of families for life-stage events and liquidity.
The modified retirement plans which come under term insurance category are available with inbuilt capital and mandatory annuitisation offering a continuous flow of income during post-retirement phase. It has been observed that income in old age is considered as one of the main requirements fulfilled by term plans.
But, majority of Indians still delay this plan to their 40s and beyond. Financial advisors suggest people to start working on a retirement phase right from the beginning of the career. In fact, term plans give effective solutions for late beginners also. Life insurers are offering their expertise in handling both investment risks and life-expectancy risks.
The plan is designed to give stable returns with sufficient risk coverage and certain income tax benefits to avail. This is the correct time to develop the habit of maximum savings to make sure that some sacrifices create bigger happiness for you in the future.