Once upon a time, I used to despair that the mass of Indian savers would never come upon the realisation that term insurance was the only kind of insurance product they needed. However, those days are past. Selecting the right type of life insurance product has now become a cakewalk - you simply need to buy a term plan. Unlike other hybrids such as ULIPs and endowment plans, pure term plans are quite affordable and in essence, a true insurance product.
However, it is not easy to choose a term policy from the available options. Different companies make different claims on the superiority of their term insurance plans. While some claim that their term insurance provides a high amount of life cover at a negligible cost, others brag about waiving off the premiums in the case of a disability or the diagnosis of a serious illness. So, which one is the most trustworthy to take care of your loved ones if you are not around?