Max Life Insurance Paid Parantage

Term Insurance Plan is a type of insurance cover that provides financial protection to your family. It helps you to meet the financial needs of your family, such as household expenses and expenditure on education of children, if it is not yours. In a way, you also experience the peace of mind by buying term insurance that if something unfortunately has happened to you then your family will not have to face least economic difficulties.

Why You Should Buy Term Insurance Plans -
The term insurance plan provides you a life insurance cover of a large amount in a lower price. For example, a person of 35 years can take a term insurance plan of Rs. 1 crore on an annual premium of about Rs. 10,000. Term insurance plans contain features that cover your financial liability. As you have bought a home loan with a home loan and you are paying a loan's EMI, the loan insurance company will pay the loan.

How to choose the right insurance company -
In the market, many insurance companies are offering different types of term insurance plans. In this case, it is necessary that you buy term insurance plans from the right insurance company. The right insurance company's choice should be made on the basis of claim settlement ratio of insurance company, solvency ratio, company's financial background and its credentials in the market.

Claim settlement ratio -
The insurance company's claim settlement ratio means that how much policy holder's claim has been received by the insurance company and how many claims the insurance company has paid. The insurance company's claim settlement ratio is high, it indicates that the insurance company is doing more and more claims. Max Life Insurance has performed brilliantly on the front of claim settlement rhetoric during the last four years.

According to the Indian Insurance and Development Authority ie IARDII, Max Life's claim settlement ratio in the financial year 2015-16 was 96.03 percent. It increased to 96.95% in the financial year 2016-17. In the financial year 2017-18, the company's claim settlement ratio was 98.26 percent.

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