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  • Bankbazaar life insurance

    Life Insurance

    Premiums as low as 18/day for
    sum assured of 1 crore
    Know more about Plans from Life Insurance companies
    Online policies with less paperwork
    Conditions apply, subject to Insurer's discretion
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    Useful Tips To Buy Life Insurance
    01
    Lower Premium for Early Birds

    Life insurance premiums are calculated based on an individual’s age. The younger you are, the lower the premiums charged. Buy a policy early to avail a long-term, low-cost cover to protect your immediate and extended family

    02
    Calculate Your Needs

    When estimating how much coverage you need, consider all your present as well as future financial obligations, as well as those of your dependents. Life insurance termplans are the most popular protection plans, offering high coverage at low premiums.

    03
    Brace for Inflation

    When buying term insurance plans, account for inflation! A cover of Rs.50 lakh may look sufficient today but may not cut it 20 years from now. When estimating how much you should cover yourself for, consider how rising prices will affect future financial requirements.

    04
    The Net's Your Best Bet

    Online life insurance policies are the most economical and convenient life insurance products you can opt for. By cutting out the middlemen i.e. the agents, these policies are more easily accessible and offer time-saving features like online renewability.

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    Your Life insurance premium is determined by

    01
    Your Current Age

    The younger you are, the lower your premiums will be. Premiums increase with age, as does insurer's level of risk. Make use of your youth, apply quick!

    02
    Gender

    The battle of the sexes extends to the life insurance premium battlefield too. Since women on an average live longer than men, their insurance premiums are lower by a tiny margin.

    03
    Smoking Preference

    Cigarettes? Chewing tobacco? Snuff? Insurers calculate premiums based on the risk they undertake while insuring your health, which tobacco destroys. We aren't preaching, just telling you what to expect.

    04
    Tenure of Coverage

    Insurers undertake greater risk the longer they cover you. Premiums on short-term policies are more expensive, but long-term life insurance plans have more payments.

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    How much of Life insurance coverage a person should get depends on

    (Multiplying your current annual income by 10 is a useful way to determine coverage.)

    01
    Number of Dependents

    The more dependents you have, the higher the life insurance pay-out will have to be, to take care of them after you're gone.

    02
    Your Current & Future LifeStyle Expenses

    For those you leave behind to maintain a comfortable lifestyle, calculate your expenses and get a life insurance policy with a matching pay-out.

    03
    Your outstanding Liabilities like home loan, car loan, etc

    If you're leaving your house, car and business to your dependants, you may also be leaving them your debt through unpaid house and car loans. Arrange to clear your debts, or to have an insurance pay-out large enough to clear it for you.

    04
    Your Investments /Savings

    If you're confident that you have ample savings and investments to carry your dependents through their lives without you to provide for them, choose a policy with a lower pay-out and consequently lower premiums. If not, do the opposite.

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    Life Insurance BYTES FROM OUR KITCHEN

    Read Life Insurance news or Enjoy it on the go Google Play

    • Avoid These Common Mistakes While Purchasing Life Insurance

      It is important not to make any mistakes when it comes to purchasing a life insurance policy since they can end up costing you heavily. See some of the common mistakes that financial planners come across:

      Buying too less or too much - According to a certified financial planner, a person doesn’t really need a life insurance policy if he or she doesn’t have any dependant. On the other hand, individuals with young children must have the same. While stay-at-home parents don't need a life insurance as much, but should have some coverage nonetheless.

      Purchasing the wrong policy - Term policies are the best option for most families owing to their finite needs. Permanent life insurance can be used as an important estate planning tool by those with a lifelong financial dependent, such as a child with special needs, or those with an estate big enough to incur the taxes for their heir.

      Depending on a free life insurance policy - Life insurance benefits that are offered by employer organisations are not enough for those who are their family’s breadwinners.

      Delaying the policy purchase - Putting off the purchase of a life insurance is extremely risky, especially for individuals with young children.

      13 November 2018

    • How to save on life insurance premium

      A life insurance policy is basically a contract between the insurance company and an individual that assures the latter financial security in the event of his/her demise. In exchange for the insurance coverage, the policyholder pays the insurer a premium.

      The premium one pays for life insurance depends on several factors, namely the chances of a claim registration, type of policy, area from where the business of the individual operates, and the locality of his/her residence. If the policyholder is deemed as riskier to cover by the insurer, he/she will have to bear a higher premium.

      Here are some ways in which one can save on life insurance premium:

      Buy insurance early in life

      Pay the premiums annually

      Go for a term insurance plan

      Select the optimum tenure for the policy

      Follow a healthy lifestyle

      Compare policies between insurers and buy insurance online

      12 November 2018

    • Max Life Insurance Welcomes New Executive Vice President

      One of the leading insurance companies/organisations operating in the whole of the Indian subcontinent, Max Life Insurance recently welcomed its newest family member, Mr. Navendu Pandey as its Executive Vice President.

      Mr. Pandey will be based out of Gurugram where Max Life’s corporate office is situated and he will report to Mr. V. Viswanand, who is the Senior Director and Chief Operating Officer for Max Life Insurance company.

      Some of the roles and responsibilities of Mr. Pandey include strengthening the Quality and Service Excellence culture in the Company by facilitating the implementation of ‘Max Quality System’. This will be done by him driving number of initiatives that will in turn enhance and better the process quality through accurate implementation of business process management, kindling and anchoring innovation, embedding knowledge management, focusing on the core growth areas, and the betterment of cost efficiency to a great extent.

      The experience of customer care domain will also be looked at with Pandey leading the effort on improving the quality of customer experience by championing ‘Voice of Customer’, an initiative across all teams. In addition to this, he will also lead a full-fledged team to provide consulting support internally in business transformation initiatives, such as operational excellence programs.

      Experience wise, Navendu has over two decades of experience across customer services, coupled with financial and banking services, and lastly Human Resource Benefits administration. Before joining the Max Life family, Navendu used to work for companies such as HSBC, Deutsche Bank, Genpact, Aon-Hewitt, Mercer, Tata Motors and Sutherland Global Services.

      9 November 2018

    • Postal Life Insurance Rules Altered to Compete in Insurance Space

      Postal Life Insurance (PLI) is similar to other life insurance service providers in the country aside from the fact that it is operated by the Indian postal department. Incepted in 1884 for the benefit of the employees in the postal department of the country, PLI only offers traditional insurance policies, and not ULIPs or term insurance. In addition to the single insurance policies, Postal Life Insurance also manages a Group Insurance scheme for the Extra Departmental Employees (Gramin Dak Sevaks) of the Department of Posts. Currently, there are 6 types of postal life insurance policies that are available:

      1. Suraksha (Whole Life Assurance) Under this scheme, the assured amount along with the accrued bonus is paid the legal representative or assignee on the event of death of the insured or to the insured individual once he or she attains 80 years of age, whichever is earlier. The minimum age to enroll for this scheme is 19 years while the maximum is 55 years. The sum assured under this plan ranges between Rs.20,000 and Rs.50 lakh. While the policy can surrendered after the completion of 3 years, loan facility is available after 4 years starting from the date of purchase of scheme.

      2. Santosh (Endowment Assurance) In this scheme, the proponent can receive the assured sum in addition to the accrued bonus till he or she attains the predetermined age of maturity. In the event of death of the insured, the nominee or legal heir will receive the complete sum assured with the accrued bonus. The minimum and maximum ages for enrolment along with the highest and lowest sum assured in this scheme is same as that of Suraksha scheme. Furthermore, loan facility shall be available after 4 years and the policy can be surrendered after 3 years.

      3. Suvidha (Convertible Whole Life Assurance) This Whole Life Assurance Policy offers policyholders the option to convert to Endowment Assurance Policy after completion of 5 years starting from the purchase of the policy. The sum assured and accrued bonus is given till the insured attains maturity age. In case of death of the policyholder, the nominee, assignee, or legal heir will receive the full sum assured along with an accrued bonus. The minimum and maximum ages for enrolment along with the highest and lowest sum assured in this scheme is same as that of Suraksha scheme. Even though the policy can surrendered after the completion of 3 years, loan facility is available after 4 years starting from the date of purchase of scheme.

      4. Sumangal (Anticipated Endowment Assurance) This is a Money Back Policy that offers a maximum sum assured of Rs.50 lakh. This scheme is best suited for those who need periodical returns since the survival benefits under policy are paid to the insured on a periodic basis. Even though these benefits will not be taken into consideration in case the insured individual dies unexpectedly, the full amount assured with the accrued bonus will be paid to the legal heir, assignee, or nominee. The available terms of policy are 15 and 20 years. The minimum and maximum ages for enrolment under this policy is 19 years and 55 years respectively.

      5. Yugal Suraksha (Joint Life Assurance) The Yugal Suraksha scheme is a Joint Life Endowment Assurance under which the spouse of the insured person will be eligible for PLI policies. This scheme also offers life coverage to both the insured and his or her spouse to the extent of sum assured along with the accrued bonus. While the highest and lowest sum assured is Rs.20,000 and Rs.50 lakh respectively, the minimum age for entry is 21 years and the maximum age is 45 years. Loan facility can be availed after the completion of 3 years.

      Bal Jeevan Bima (Children Policy) This scheme provides life insurance coverage to a maximum of 2 children between the age group of 5-20 years of the policyholder. The maximum sum assured under this scheme is Rs.3 lakh or equal to the sum assured of the parent, whichever is less. It should be noted that the age of the policyholder should not be more than 45 years. In the event of death of the policyholder, any premium will not be paid on this policy. The total sum assured in addition to the bonus accrued shall be paid on completion of the term.

      8 November 2018

    • DHFL Pramerica Life Insurance New Campaign #KalSePehle Launched

      Issuing the age-old problem of delaying the purchase of life insurance, DHFL Pramerica recently launched its awareness campaign all across the social channels. The campaign is known as #KalSePehle and it basically addresses the concerns and issues that ensue when people do not understand the importance of being insured and securing their family members in case of emergencies and contingencies.

      The value of life insurance is often misinterpreted and people do not realise it until the last moment, when they really need one. Till then the idea is just tossed around in the air and it keeps on getting deferred to another day. This practice, in turn, puts the family at huge risk since there is no coverage or protection during the time of any medical emergency and the family will be compelled to dig into its own savings to pay for the required expenses. This in turn adds to the existing financial burden.

      This thought-provoking social awareness campaign about life insurance consists of three videos connected to each other. The first video talks about Kal Se’s morning routine wherein he is dazed on the morning that he wakes up, thinks about working out but skips it instead, owing to laziness. However, by the third video the protagonist rethinks and goes on to work out before tomorrow. Through this depiction, the message that DHFL Pramerica is trying to convey becomes crystal clear as emphasis is laid on the importance of purchasing a life insurance policy before any danger befalls the family tomorrow.

      7 November 2018

    • IRDAI comes up with significant changes to life insurance policies

      The Insurance Regulatory and Development Authority of India has come up with changes in life insurance policies. This is being done for a better understanding of the product while offering benefits for the policyholders. For regular premium products, the minimum death benefit is now 7 times while it is 1.25 times for single premium products irrespective of age. The time period to acquire guaranteed surrender value has been reduced from 3 years to 2 years for non-linked policies. The revival period has now extended from two years to five years. The settlement option has now extended to 10 years from the current 5 years.

      5 November 2018

    • How you can enhance your life insurance coverage with riders

      The main motive of purchasing life insurance is to offer financial security to the dependents of the life assured in the event of his/her untimely death. The basic sum assured and bonuses will constitute the final payout, in the form of a death benefit. However, the policyholder can choose to increase the coverage under the policy by opting for riders.

      The accident benefit rider provides financial assistance to the family of the insured by providing an additional payout over and above the basic sum assured under the plan. This payout is made when the life assured passes away in an accident. Some riders also provide waiver of future premiums.

      A term rider under an endowment policy enhances the rick coverage up to 200%-300% of the basic sum assured. The extra premium paid for this rider is a small amount.

      The critical illness rider offers coverage for specific diseases and health situations. Usually a lump sum amount is offered that is equal to the basic sum assured.

      The accelerated maturity payout rider will offer a portion of the sum assured 3-5 years before the maturity date of the policy, in case the insured suffers from a terminal illness. The insurance company does not wait for the demise of the life assured to make the payment.

      2 November 2018

    • DHFL Pramerica Life Insurance launches its digital campaign #KalSePehle

      In order to promote the importance of life insurance, DHFL Pramerica Life Insurance has launched a digital campaign which has been titled as #KalSePehle. DHFL Pramerica Life Insurance is one of the fastest growing life insurance companies in India. Through this campaign, DHFL Pramerica is taking on the behaviour of postponement around Life Insurance.

      Mr. Anoop Pabby, the CEO and MD of DHFL Pramerica Life Insurance Co. Ltd. said that the main intention of the campaign is to inspire people to come forward and take timely decisions about Insurance related matters.

      31 October 2018

    • Choose the Correct Life Insurance Product for Yourself and Your Family

      While the importance of being insured through multifaceted insurance products has increased amongst the commoners in India, however, the percentage of underinsurance remains at an all-time low for the entire country, which is a grave issue and needs to be resolved at the earliest possible.

      Any insurance product is meant to protect you from any financial adversity whether it is happening to you, your spouse, children, and parents. An insurance cover is also supposed to fulfill your long-term goals, objectives, and dreams, irrespective of whether you are there or not. The most primary perspective you should have of life insurance is that of an efficient goal planner since the other things will cease to be useful if the policyholder/life assured himself isn’t there. Life insurance as a chapter should not be mixed with the idea of an investment. Both the components must be kept separate because the primary objective of a life insurance policy is to protect all your loved ones, help you lead a risk-adjusted life, and not let you bother too much about the future.

      Protection against the three Ds is of utmost importance. These are Death, Disease and Disability. If you want pure insurance, the best way to go about it is by investing in a term insurance policy. Since term plans offer the element of insurance only, you do not get a maturity benefit at the end of the policy. However, if the policyholder passes away during the policy term, a death benefit is provided to the nominee of the policy by the insurance company.

      30 October 2018

    • TRS Considering Introduction of Life Insurance Scheme for SCs and STs

      The TRS manifesto committee on Scheduled Caste (SC) and Scheduled Tribe (ST) welfare issues recently held a meeting on 22 October 2018 in Hyderabad to discuss and prepare the wishlist of the communities that should be included in the party manifesto. This meeting was chaired by the Deputy Chief Minister and Education Minister of Telangana, Kadiyam Srihari. The TRS election manifesto is expected to be released in the first week of November 2018. During the meeting, the committee members discussed about the introduction of special growth engine schemes for SCs and STs. These schemes are likely to be on the lines of the caste-based schemes that were launched by the Government of Telangana during its tenure for the different communities that are present in the state. They also proposed increasing the reservations for SCs and STs as per the 2011 Census, in addition to providing financial assistance to the unemployed youth without requiring any bank linkage. The committee also considered other various proposals such as the establishment of a separate corporation to oversee the overall development of tribal gram panchayats, and the introduction of Telangana life insurance scheme for SCs and STs. The Chief Minister and President of TRS, K. Chandrashekar Rao, has also tasked the committee to come up with special growth engine schemes for SCs and STs following numerous representations seeking schemes such as sheep distribution. The budget outlay of the scheme has been fixed to range between Rs.10,000 crore and Rs.15,000 crore for SCs and from Rs.6,000 crore to Rs.10,000 crore for STs. The committee members include the Finance Minister, Etela Rajender, former Minister, P Ramulu, and Chairman of TSIIC, Gyadari Balamallu along with multiple MPs such as Sitaram Naik, Banda Prakash, Pasunuri Dayakar, and Godem Nagesh. The meeting was also attended by former MLAs including Errabelli Dayakar Rao and Aroori Ramesh.

      29 October 2018

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    Customer Reviews

    • LIC Life Insurance
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have been holding my life insurance with Life insurance corporation, they are government institution i have trust in this insurance company i use to pay premium in quarterly bases and i use to pay through off line, there customer service was good they have explain me about my policy coverage clearly.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 14, 2018
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my term insurance with Max life insurance from last 3 month only, i use to pay premium on monthly bases and they have charge premium up to 1500 approximately and i do payment through on line and there overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • LIC Life Insurance
      "Need improvement on customer service"
      0.5 3.0/5 "Satisfactory"
      I think their customer service should be improved, I have taken jeevan anand it has the total term of 15 years. I need to pay for whole premium. The life cover is available upto certain period. LIC very much provides tax benefit, its good for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied my life insurance with life insurance corporation of India long back, i use to pay premium per month, and they have charged premium up to 2,000 rupees it nominal and i use to get auto debit, there customer service team had explained me about the policy clearly when i had applied this insurance.
      Was this review helpful? 0
      , gandhidham
      Reviewed on Nov 14, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied my life insurance with life insurance corporation of India long back, i use to pay premium per annum , and they have charged premium up to 7,000 rupees it nominal and i use to pay through cash or cheque, there support team had explained me about the policy clearly when i had applied this insurance.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Nov 14, 2018
    • HDFC Life Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance policy a long time back and the process was done online. I had been making the payments on a monthly basis and the premium amount of 1000 has been good. The premium method also has been good and there has not been any hassle faced with them so far.
      Was this review helpful? 0
      , gandhidham
      Reviewed on Nov 14, 2018
    • Bharti Axa Life Life Insurance
      "Fraud Scam"
      0.5 0.5/5 "Unacceptable"
      Entire Bharti Axa team member is fraud. They have surrender my 12 year old policy putting my signature on the surrender form. They have done forgery, done fake signature & withdrawal my money. I have complained on 2nd Nov. Since no proper resolution. my policy number 500-0035682. Request not to purchase policy from this company. Later, I came found, almost all the employee involved through out India in this fraud scam.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 14, 2018
    • LIC Life Insurance
      "Due reminder should be timely"
      0.5 4.0/5 "Great!"
      I do have one or two life insurance policy with LIC. It was taken long back, its a long term policies. I am paying around 5000 quarterly. It is a conventional policy and I will getting a maturity benefits. I am making the payment through online. The premium reminder update is not that good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 13, 2018
    • HDFC Life Life Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have taken 2 life insurance policies with HDFC Life, one was taken in the year 2007 and other is year back. I am very much satisfied with the policy coverage and benefits. They have introduced term plan and giving partial disability benefits. I am paying the premium of 3700 rupees monthly through ECS.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 13, 2018
    • LIC Life Insurance
      "Its Trusted"
      0.5 4.0/5 "Great!"
      Major factor I selected the LIC its govt one and its trusted one. The premium I used pay around Rs. 44k for one year for one policy. its a long term. Agent wont respond properly, they interested to sell the policy then they wont respond it. I need to work on the beneficial part.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 13, 2018
    • HDFC Life Life Insurance
      "Good policy to have"
      0.5 5.0/5 "Blown Away!"
      I hold a term insurance with HDFC worth of Rs. 15 lakhs. I opened a term insurance in the year of 2013. I have been paying the premium of Rs. 6174. I have chosen the annual payment mode. Total tenure period of the policy 15 years. This is tax benefitable policy. Since I'm a existing customer of HDFC, i have chosen the same company.
      Was this review helpful? 0
      , dehradun
      Reviewed on Nov 13, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I had taken an insurance for my daughter with Life Insurance Corporation of India. Actually its a 38,000 rupees policy and I got the double the amount of the policy. The service are good and nice. Every quarter I pay around 1100 rupees. The premium was paid through an LIC agent. The policy period for money back is 8 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 13, 2018
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