Is premium the only point of comparison in term policies?

Yes! In a term policy, there is no maturity value, as this is a pure insurance policy. Your entire premium goes to give your family a life cover in case of an eventuality. Thus, it is a simple plan where the annual premium is the only point of comparison.

Other issues such as claims settlement are more relevant to general insurance plans (like Mediclaim). In a life insurance plan, there is virtually no dispute that is likely to arise in case of a claim. Thus, it suffices if we compare the premiums and go for the lowest one.

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