RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Seven Smarts Steps to Invest in Life Insurance Plans

down-arrow
Seven Smarts Steps to Invest in Life Insurance Plans
March 18, 2023
Life insurance these days has emerged as a credible financial decision that has a long-term impact on the overall financial portfolio that a person has in the long run. Although there are opinions that state that insurance is a liability in terms of the payable premiums; however the matter of the fact s that the kind of a financial coverage and security offered by a standard life insurance policy is unparalleled in terms of futuristic projections that it offers. A traditional life insurance policy is rather different from a traditional term insurance plan.  A term insurance plan offers the benefit of providing the nominee(s) of the policy holder with the sum assured under the main corpus in the event of the policy holder’s demise within the term of the policy. Although there are no maturity benefits if the subscriber survives the policy term, yet there are certain return-of-premium policies that entitle the subscriber to receive the benefits in the shape of paid premiums when the term matures. However, a standard life insurance plan entitles a policy holder to receive the maturity benefits in the event of the policy-holder surviving the plan term. Moreover, there are standard death benefits in place, which entitle the policy holder’s nominee(s) to receive the main sum assured in the event of her/demise during the plan term.

When it comes to choosing a term insurance plan, there are certain factors which must be taken into consideration. Following are the seven basic steps to be taken while choosing a term insurance plan:

  1. Always compare before choosing:

    These days, the online mode has given much required freedom of choice and has simplified things to a large extent. You must visit the official portals of different insurers and compare the specific features of different plans being offered to know what best suits your interests.

  2. Keep future in mind:

    Term insurance basically serves as a future guarantee. It acts as a safeguard for the finances of your dependent relatives or family members. Therefore, any decision regarding insurance must be futuristic and must be made with an eye on the factors like inflation, projected cost fluctuations, future goals etc.

  3. Match your goals with the plan features:

    You must always think futuristically and never make short term attractions affect the long term gains. This makes it very essential that you must match your specific goals in a futuristic sense with the features of the plan under consideration.

  4. Consider the premiums:

    This is very important. You must choose a plan that allows you to pay the premiums regularly with the equally matching benefits. The payable premium amount must be coherently proportional to the volume of coverage that the plan offers.

  5. Keep your medical history and overall health in mind:

    While choosing a term insurance plan, it is very important for you to keep your current health conditions in mind as these impact your options directly. The presence of any pre-existing health conditions etc. has to be documented while purchasing the plan and you must choose a term plan accordingly.

HDFC Life offers term insurance plans that offer multiple coverage benefits for the future financial needs of your family. For details, click on the mentioned link: https://www.hdfclife.com/term-insurance-plans.

Related Articles

 

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

What Is Insurance?

What Is Insurance?

Learn the essentials of what is insurance, its types, benefits, and how it protects your finances. Get insights into life and general insurance policies today.

Blue Chip Fund

Diversified Equity Mutual Funds

Insurance Overload: Are You Hoarding Policies Instead of Securing Your Future?

Find out exactly how many insurance products do you need to protect your familys future. Avoid policy overload and secure peace of mind with expert insights.

Insurance Overload: Are You Hoarding Policies Instead of Securing Your Future?
Playing the Perfect 'Innings' For Your Loved Ones Previous
Reasons Why Life Insurance Isn't Just For Old People Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches