The tern plan provided by HDFC bank is the best term plan.
I will discuss 6 points here in detail:
Claim sattlement ratio: the claim sattlement ratio of HDFC life is almost 100 percent. every person who want to invest in term plan must comapare the claim sattlement ratio.
Number of cases handled: this is also a very important aspact, every person should go through it, its possible for some company having good sattlement ratio but they have actually handled only few cases, HDFC life has already handled huge number of cases with great sattlement ratio, nearly 100 percent
Amount of sattlement ratio: may be claim sattlement ratio of 100 percent of many companies but its possible that amount of that claims are too lesser, check before invest.
Claim rejection ratio: it is a very important aspact before investing in term plan that how many claims have been rejected by insurance houses outrightly
Solvency ratio: it must be equal to more than 1.25, please check this also.
premium: there are many insurance companies in the market who are offering lucrative plans having very low premium amount, but their claim rejection ration and sattlement ratio are not good.
hence, before investing your hard earned mony in term plans please check these 6 points thoroughly, dont get tempt with low premium, in case something happened to you, may be some insurance company does’nt give that cover when your family neended it
top 3 Term Plams after considering these points and after comparing plans of insurance companies:
HDFC life
LIC
TATA AIG
this is my calculation, if you want to invest in some other plans, you all are free to do it.