Term insurance plans are in the form of insurance cover for a period of time, at a fixed payment mode. If the insurance is an unfortunate occurrence, then the death benefits are payable to the beneficiary. But in the case of survival, the coverage at the earliest rate is not guaranteed after the expiration of the policy. The customer has the option to purchase an extended warranty. Term plans are inexpensive and most people, as long as they have a running source of income, can afford to buy these policies.

These plans are the least expensive ways of buying substantial life insurance cover over a particular period of time. Unlike other insurance cover, term plans do not have any investment component or cash build up value. They extend a pure guaranteed level of premium and a specific amount of coverage for a specific period of time.

Term plans offer high cover against affordable cost. Anybody who is not willing to invest a large chunk of funds for insurance also will secure the future uncertainties can buy a term policy.

For term insurance, the amount of premium remains the same during the tenure of the policy. Sometimes the premium is fixed for a 10 year period, after which it may be adjusted. The premium then remains at the new adjusted level for the next 10 years. The duration of a term life policy can be selected between 1-30 years. Annual level term insurance can be renewed. The most popular term life insurance plan is the 20-year term plan. It is the only way to make money, but it is not enough to make money. Generally, the 15 and the 30-year term policies are also figured as mortgage life policies, since they are meant to pay off any outstanding mortgage balance on the house,

Online term insurance is gaining popularity due to its amazingly low pricing costs. An online term policy is easy to get and operate which adds to its acceptance even more. On the other hand, there is a great deal of interest in the quality of life insurance. The process of finding the best quote is pretty simple too, with comparison sites bringing all the leading offers to the forefront.

To buy term insurance plans online, all you need to submit the application online through insurance company's web portal. For an average life cover of 1 crore your premium range between 7000 to 8000 annually and the cover. Some companies give the benefit of no medical test procedure for term Plans Being you purchased online. But the only concern is that a low-cost online policy, much of the responsibility is left in the hands of the customers. It is up to them to renew the policy when it ends.

Before buying term insurance plans it is advisable to compare them in terms of benefits & features, lower premium costs, coverage amount, high claim settlement ratio, etc. One can compare term insurance with the help of various comparison tools available on the internet. This is one of the biggest advantages of technology. Anyone with a computer, laptop or smartphone can do this right at home. There is no middlemen, hassle of documentation, no hidden rules or regulation. Purchasing term insurance plans online is the best way to get higher cover at a lower cost. Besides, purchasing you can manage several other things like premium payment, policy renewal, and hassle free claim as well.