How Saral Jeevan Bima fares among term plans
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Study how the standard term policy compares with others on premium and benefits
Term plans are supposed to be simple products in the life insurance space. But life insurers add different features, pay-out options and other conditions, making the selection of a term plan difficult, prompting the regulator, IRDAI, to come up with Saral Jeevan Bima.
The objective of this standard term policy is to offer simple basic life cover for policyholders across income categories. With a few insurers introducing the standard term policy in their menu, we discuss their offerings.