Want to buy life insurance online? Know its different types

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Want to buy life insurance online? Know its
different types
BimaKaro.in
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online term insurance plan.

• The benefit of choice is something that the
  modern consumer can be a boon and a bane for
  those looking to buy something. On the one hand,
  you get great competitive prices and on the other
  hand, you just get fed up with not knowing what
  to buy. Even when it comes to something as
  important as buying life Insurance online it is
  no different. So, it is always best to understand
  what is on offer so that you can make an informed
  decision before buying life insurance online and
  later regretting buying it. But what is there on
  offer? Let us take a look at different types of
  Life Insurance policies available in India
• Term insurance
• Term insurance is one of the most popular and
  affordable types of insurance. This is a type of
  policy which can be purchased for a specific
  number of years such as 10, 20 or 30 years. If
  the policyholder expires suddenly during the
  tenure of the term policy, a death benefit is
  then paid to the designated nominee in the form
  of a lump sum, monthly payouts or a combination
  of both. The payout received will act as a buffer
  against the sudden loss of income due to the
  unexpected death of the main bread earner

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Term insurance with return of premium
This is one of the type of Life Insurance
Policies in India which also ensures coverage in
the event of an unfortunate event. However, this
is slightly different from the typical term
insurance plan in that if the policyholder
survives the tenure of the policy, this plan
offers a return of the premiums paid as a
survival benefit. There is a good reason to opt
for this type of plan since not only does it
protect the family in case of an adverse event
where the Life Assured loses his life, but it
also offers assured returns to the policyholder
if he/she survives beyond the term of the policy.
The premium charges for this type of insurance
policy however are much higher and it is not as
affordable as the Pure Term Insurance
plans. Unit Linked Insurance Plans The Unit
Linked Insurance Plans or ULIPs as they are
commonly referred to, are generally a combination
of insurance as well as investment. A part of the
premiums paid towards this type of insurance
plans is generally invested in mutual funds while
the balance is used as life insurance cover. The
funds for investment can be chosen by the
Policyholder based upon his/her risk appetite.
Therefore, he may choose to invest in Debt funds,
Equity funds or a mix of both known as Balance
funds. 
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Endowment plans
Endowment plans are a combination of life
insurance protection and savings. From the
premium payable, a portion is kept for overage
while the balance amount is invested by the
insurance company. Upon maturity of the plan, if
the life assured is still living, then the
insurance amount is paid to him/her, otherwise,
it is paid to the beneficiary. Endowment plans
carry a bonus since the insurance company invests
a portion into various investments. This is
either paid as a death benefit or as a maturity
benefit. This type is plan is best suited for a
person who has a low-risk appetite, but who is
willing to invest modestly to receive a benefit
on his investment. Whole life insurance Whole
life insurance is a kind of insurance which
protects a person for his entire life up to the
age of 100 years. The sum assured is decided at
the time of inception of the policy and upon the
death of the life assured, the death benefit is
paid to the chosen nominee. Unlike term
insurance, the premium amount is higher. This
type of insurance has a cash value which
increases over time however in case of death, the
beneficiary receives a reduced benefit.
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Group life insurance
Group life insurance Group life insurance is one
of the types of life insurance policies wherein a
group of people, for example, employer- employees
are covered under a single type of insurance.
Such group insurance policies are very beneficial
to both groups i.e. the one initiating as well as
the group benefiting. They are also very
economical since they cover entire groups a much
lower cost than traditional individual insurance
and additionally the insured have the benefit of
coverage without mandatory medical tests with
fairly basic documentation to deal with.
Additionally, there are tax benefits available as
well. Child Insurance Plans A Child Insurance
plan is a combination of insurance and investment
towards your childs future financial needs. From
birth until adulthood, there is any number of
milestones in a childs life, there may be a need
for payouts to achieve a crucial
milestone. Retirement Plans Retirement plans help
towards building a retirement fund so that you
can get a regular pension amount after
retirement. In the case of your death, the chosen
nominee can claim the sum assured. .
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Continue

• Money-back policies
• This is a different type of insurance
  policy where during the policy tenure, you
  receive a percentage of the sum assured at
  regular intervals. On survival through the policy
  tenure, you will receive the balance corpus along
  with accrued bonus. However, in case of expiry of
  the life assured before the end of the policy
  term, the beneficiary will receive the entire sum
  assured irrespective of the number of instalments
  paid back.
• Nowadays buying life insurance online is as easy
  as doing shopping from any other e-commerce site.
  One such platform is BimaKaro which assist you in
  picking the right life insurance policy. So, get
  the best Life Insurance plans on www.bimakaro.in w
  ith the best possible rates. A robust customer
  support team is always there to help you make the
  right choices. Do not wait to make the right
  choice, Bimakaro is already doing that for you!

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Bimakaro.in

• With advancements in technology, you can now buy
  life insurance online without any worries and
  quickly the various mentioned benefits, wiping
  away the myths. To make your choices clearer and
  aligned with your life goals, you may visit the
  website, Bimakaro.in helps to shortlist insurance
  policies based on critical parameters. The plans
  can also be compared with each other, enabling
  you to know eachs advantages and disadvantages
  without any bias or influences. Dont wait. Try
  out Bimakaro.in now!

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Conclusion
Online term insurance plans come with a host of
benefits. As explained above, it is time to give
equal importance to term insurance, as we give to
health, motor, travel, or any other insurance
form. Concerns related to trust and transparency
are now addressed with the help of online
insurance aggregators like BimaKaro.in If you are
considering buying online term insurance plan, do
not procrastinate. Just log on to www.BimaKaro.in 
now.