Life insurance is highly recommended for all. If you are the breadwinner, a good online life insurance plan will ensure that your loved ones are financially secure after you die. However, to avoid a wrong purchase, you need to be sure that you are buying from a reputed company. In addition to comparing life insurance quotes online, it is beneficial to research about prospective service providers. Furthermore, reading the contract carefully will save you from many disturbances and unpleasant surprises. The various life insurance policies available online are:
* Term insurance: It is the cheapest and simplest form of insurance that is designed to provide financial protection for 15 to 20 years or even more. This ensures that your family gets a good lump sump of money to enjoy a stable life after your untimely demise. The best thing about this policy is that premium is quite low when compared to the insurance it provides.
* Endowment policy: It offers the dual benefit of investment and insurance with guaranteed returns on maturity apart from death benefit.
* ULIP plans: In the Unit linked insurance plan, a portion of the premium goes towards life insurance and the residual portion is invested in debts and equities. The investment portion is subject to market volatility in ULIP plans.
* Money back life insurance: It offers monthly payment of fractional survival benefit during the contract of the policy as long as the policyholder is alive. In the event of the death of the policy holder, the company pays the survival benefits along with the full sum amount.