Term Life Insurance Policy of Cover Over 50,000

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Term Life Insurance Plans Offering Cover Of Rs. 50,000

These days, a lot of term life insurance policies are offering a minimum sum assured amount of 50,000 rupees.

The first name that you need to take in this regard is that of Bharti AXA Life POS Saral Jeevan Bima. This is a non-linked and non-participating term plan which is supposed to provide you with life coverage if you – the policyholder – die within the policy coverage period. Now, there are some salient features of the policy. The sum assured in this policy gets doubled if you die in an accident. Moreover, the total sum assured in this policy is offered as a lump sum amount.

In this term insurance policy, you have the right to choose the period for which you wish to be covered by the policy. There are four options available in this regard – 10, 20, 15, and 25 years. Also, here you do not have to undergo any medical test to buy the policy. You can save tax on the premium that you are paying in the policy. The same is also applicable for the payout that you get from the same. However, these tax benefits would be awarded based on the latest rules and regulations in this regard as mentioned in the Income Tax Act, 1961.

Read More: Things To Know Before Taking Term Life Insurance Plan In India.

List of Term Life Insurance Over 50,000 Plans

1. Bharti AXA Life Smart Jeevan Plan 

If you want to know what is term life insurance this is something that you can always take a look at and there are good reasons for such a statement. The plan protects people who matter to you for 12 years and it does so at a rather low premium rate. This is however done only when something unfortunate happens to you when you are covered by the policy. Also, when the policy matures you would receive all the money back that you had paid as premium.

There are also several advantages that you could expect from this life insurance term policies . It offers you decent coverage at a low premium rate. The maturity payout is also a great feature. The life insurance coverage that you get from the policy comes in handy too. This is making sure that your near and dear ones are protected. The process to buy the policy is rather easy– it does not take up a lot of time.

2. Exide Life Term Rider 

A lot of people consider this to be the best term life insurance policies and, once again, they do have their reasons for such a thought. The policy is being offered by Exide Life Insurance Company Limited, which was earlier known as ING Vysya Life Insurance. It offers you the chance to include add-ons in the policy at a rather low cost. This ensures that the members of your family are always protected financially and can at least easily maintain its lifestyle even in your absence in the days to come. The policy covers all kinds of deaths including accidental ones.

If you, unfortunately, die within the policy coverage period the insurer pay a lump sum that happens to be equivalent to the rider sum assured on death. The rider coverage also increases in this case. The policy offers pure protection benefit but it does not have provisions for any maturity benefit or surrender benefit for that matter. You can always use a term life insurance calculatoand find out the premium that you may have to pay in this case.

3. Max Life Smart Secure Plus 

This happens to be a non-participating and non-linked life insurance policy.

If you want to know the true term life insurance meaning this is one policy that you can always take a look at. It offers some advantages that you would not find in other policies such as various in-built benefits apart from death benefits. The policy covers terminal illness as well and comes with a special exit value. It can be described as an extended protection plan, which can be customized just as you would want it to be done. The policy offers a death benefit to your nominated beneficiary in case you die within the policy coverage period.

In this policy, you can choose to pay the premium as you deem fit. This term life insurance policy offers you the feature of premium break as well. Hereby you can take a vacation of sorts from having to pay the premium but this facility can only be availed after you have completed a decade of being covered by the same. The policy offers the return of premium facility too. Hereby, if you survive at the end of the policy coverage period the insurer would pay you back all the money you paid as premium.

4. SBI (State Bank of India) Life e-Shield Next 

This life insurance term plan can be described as a modern protection plan in the truest sense of the words. It is designed in such a way that it can fulfill all the needs that you may have of it. It can also take care of all the new responsibilities that you have in life from time to time. This is the most appropriate solution for people who are looking to provide the best financial security to their families and protect them in the modern world.

There are some good reasons why the term life insurance policy is as highly rated as it is. It offers you the freedom to choose from three coverage options – level cover, increasing cover, and level cover with future-proofing. As we have said already, you can personalize the policy in such a way that you can meet all the needs that you may have in this case. It has a half benefit option, which makes it a lot better than plenty of others of its ilk. You can choose the mode in which you want the death benefit to be paid to your beneficiaries. You have a couple of riders that help you improve your coverage in these cases.

May 30, 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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