Advisor Match

This is a unique plan whereby you can buy riders like, critical illness cover, accidental death cover or disability cover etc. by paying a small additional premium. If you take a rider and opt for premium waiver benefit, then you need not pay the future premiums in case of any eventualities for which you have taken the rider.

This is a plan offered by some of the Insurance companies wherein a term insurance plan can be taken with an option to convert it into some other plan of your choice at a future date.

The opposite of increasing term plan is the decreasing term plan. Here the sum assured decreases year after year so as to match the decreasing insurance needs of the policy holders. These plans are mostly taken when someone has taken a large home loan or personal loan and paying an equated monthly installment, or EMI.

In this plan, one can opt to increase the sum assured at annual frequency during the plan period while keeping the premiums same. Of course, the premiums of this plan will be different than that of level term plans.

Unlike level term plans, here the plans have maturity benefit, wherein the premiums are returned to the policy holder if he or she survives till maturity of the policy.

Level Term Plans is the simplest form of a term insurance plan where the sum assured does not change during the tenure and benefits are paid out to the nominee on the death of the policy holder.