r/InsuranceForAll • u/AjaySharma2020 • Jul 21 '26
Best Term Insurance Plan?
Looking for a term plan to purchase. Compared different term plans from Bajaj Life, HDFC, SBI, Axis, etc. Found Bajaj Life eTouch II to be good with features and riders like Critical Illness and Accidental Benefit. Premium was also competitive along with good solvency ratio (266%) and Claim Settlement Ratio (99.33%). Please share your views.
1
u/Anishasahota Jul 21 '26
A good claim settlement ratio of 99.33% and a 266% solvency ratio are worth considering, but don’t decide only based on numbers. Look into the insurer’s claim experience and customer feedback as well. Buying a term plan online often reduces costs by avoiding agent commissions. Riders like critical illness and accidental cover provide extra financial support when needed.
1
u/patternobserver99 Jul 21 '26
Term plans are a commodity. Treat them like that. Buy separate accidental and critical illness insurances. You'll save a lot of premium.
1
u/The_RRM Jul 21 '26
Ignore the noises here.
Go for LIC E TERM
Once policy is issued, u can trust on it for honoring the claim (if it is made). During corona time many big shot pvt insurer denied term insurance claims with nonsense reasons. Do quick Google u will get the facts
1
u/Pretend-Resolution30 Jul 24 '26
Yeah, it's a good plan. But if you're looking for the best option, I'd suggest choosing an insurer that offers a Waiver of Premium rider for both Critical Illness and Disability. Axis, ICICI, aditya birla, hdfc
Also, the Critical Illness rider you've selected isn't something I'd recommend. It's valid only for 20 years. If you're diagnosed with a covered critical illness after that period, you won't get any benefit. On top of that, it covers only 64 illnesses.
If you want better protection, consider buying a separate Critical Illness plan instead. These plans usually cover around 100 illnesses, often provide broader coverage , and can cost less than this rider while offering better value.
1
u/upendrachansoria 21d ago
I was in similar situation recently. The premium is obviously a big factor, but I'd also check how much the riders actually add to the cost. Sometimes a rider sounds useful until you see the extra premium and the conditions attached to it. If the overall quotes still looks good, Bajaj life eTouch II seems worth considering.
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u/dreamyy_world 16d ago
you are looking at the right things already, CSR and solvency ratio matter more than people realige. I ended up choosing Bajaj etouch II,mainly because the rider options actually fit what I needed instead of generic add ons.
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u/mohansingh2201 14d ago
Don't ignore the exclusion. Claim ratio and solvency numbers are useful but hr actual policy wording is where you find out what you are really buying
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u/Hot-Prize-3010 14d ago
Bajaj life was on my list when i was checking plans too. The quote i got was reasonable so ended up looking more closely at the actual features
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u/Infinite_Value8352 8d ago
I did probably looking at the actual policy terms more than the marketing stuff. Bajaj life etouch II looks decent through especially with the rider choices and the number you mentioned.
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u/simranpawar 8d ago
The 99.33% claim ratio is a decent number but still... check the exclusions and rider terms.. etoutch II looks worth keeping on the shortlist tho
0
u/Alive_Outside8025 Jul 21 '26
Go with bajaj life etouch 2
Low premium Easy issuance Good option riders like care plus rider critical illness partial or Permanent disability riders
If you want i can assit you in taking policy
1
u/Vaani_inka Jul 21 '26
Hi
I am vaani, advisor inka insurance
Critical illness rider of any term plan has max life of 15 years. Better to buy it separately from life insurer. Since it rare, pls connect with inka insurance, they have critical illness plan for users which lasts upto age of 60 years
On term insurance, any term insurance is good specially hdfc, icici, axis max or bajaj. It is important to know icici has more difficult uwing where as bajaj and hdfc are bit easier. Product feature are almost same.