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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

    Customer Reviews

    • IDBI Federal Life Insurance
      "Good protection for family"
      0.5 4.0/5 "Great!"
      Quarterly I am paying the premium around Rs.5240, it has the tenure of 25 years. After that I wont get any return, my nominees will get the reimbursement around Rs.1 Crore for natural death, if accidental death will get around Rs.1.85 crore.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 23, 2017
    • Birla Sun Life Insurance
      "Very good product"
      0.5 4.0/5 "Great!"
      I bought cancer shield product from birla sun life but reviewed online. The product is amazing and really saved me spending money at other insurers. Thank you for the quick suggestions and real value of the Product . i need to just go and now submit my papers.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 23, 2017
    • HDFC Life Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I do have term life insurance policy with the HDFC life insurance company. Everything was done by online service and the coverage value was around 50 lakh Rupees and the premium is around 14000 Rupees. Regular alerts are fine one with them, also they are flexible with the customer.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • LIC Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I do have life insurance policy with the LIC of India and I want to say that they are pioneer of the insurance company. Customer service and other things are really good. Response is very good with the LIC of India and there are no suggestion to them.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • Future Generali Life Life Insurance
      "Good insurance company"
      0.5 3.5/5 "Pretty good"
      I do have life insurance policy with the Future generali life insurance company. Coverage value is good one like its around 50 lakh Rupees and the premium is not at all the comparable one. Claim ratio is the way to choose the policy rather than he premium like Future generali do have a good claims ratio.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • LIC Life Insurance
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      I do have life insurance policy with the LIC of India and I would like to say that they are government own subsidy, so the claim ratio is a satisfactory one. I do have life insurance policy with the LIC of India from the last fifteen years of time. Customer service is a good one with the LIC of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • LIC Life Insurance
      "Better Policy to use "
      0.5 5.0/5 "Blown Away!"
      Having a policy with LIC of India. The policy is called Jeevan Anand. I pay Rs.7,000 as premium yearly once. I go visit the LIC office to do the payment. The plan benefits and the policy coverages are good with this policy. I got this policy on 2011.
      Was this review helpful? 0
      , guntur
      Reviewed on Jun 22, 2017
    • LIC Life Insurance
      "Good polic to use"
      0.5 5.0/5 "Blown Away!"
      I got the Jeevan saral policy with Life Insurance Corporation of India. The Premium amount I pay to this policy is Rs.6000. I do the payment yearly once. My superior advised me to get a policy with LIC. The plan benefits and the policy coverages are good with this policy.
      Was this review helpful? 0
      , guntur
      Reviewed on Jun 22, 2017
    • Tata AIA Life Insurance
      "Good for small investment"
      0.5 4.0/5 "Great!"
      I do have Tata AIA life insurance company and the coverage is up to 7 lakh Rupees, also am paying around 5000 Rupees. Response and other things are really good one with them and the regular alerts, payment modes are fine one with he Tata AIA life insurance company.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 22, 2017
    • LIC Life Insurance
      "You can beleive it"
      0.5 3.0/5 "Satisfactory"
      I do have life insurance policy with the LIC of India, I had been with them from the last five years of time, also they used to have lot of policies , which were really good. Money back policies are really working in a good way, also customer service is not really a perfect one.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 22, 2017
    • LIC Life Insurance
      "Good policy to choose"
      0.5 4.0/5 "Great!"
      I have bought a money back policy with LIC a year back. I pay Rs.6000 as premium in every 6 months once. The plan benefits and the policy coverages are good with this policy. This policy has the tenure of 15 years. I pay the premium through cash and the agent will come to my place to collect the payment.
      Was this review helpful? 0
      , patna
      Reviewed on Jun 22, 2017
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I do have life insurance policy with the LIC of India and am with them from the last three to four years of time. Service aspects and everything is good one with the LIC of India and I would like to say its a trustworthy company , also that's the major factor with the LIC of India.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
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    Life Insurance is Rated as " Excellent!" by 13130 Users
     4.5 / 5.0   by 13130 users
    Used this product? Write a review >>

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    Life Insurance BYTES FROM OUR KITCHEN
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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.

    Landing Previous Arrow

    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.

    What is Life Insurance?
    Landing Previous Arrow

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

    • PM advocates Yoga and compares it to free life insurance

      While celebrating International Yoga Day in Lucknow, PM Narendra Modi mentioned that yoga plays a significant role in creating a sense of bonding among people. He also pointed out that the global appeal of the practice is what made UN accept the proposal to declare 21st June as International Yoga Day.

      He also stated that the observation of this day has popularised yoga around the world. He called out for standardisation of the techniques of yoga and encouraged youngsters to adopt it for good health. He said that yoga is responsible for enlightening the body and soul.

      Modi also compared the age-old practice to free life insurance which everyone should avail.

      23rd June 2017

    • Life Insurance, GST Councils to meet on Friday

      The Life Insurance Council will be meeting with the GST Council on Friday to have a discussion regarding the rates for the Goods and Services Tax (GST). The life insurance industry is pursuing a zero rate for life insurance or at least wants to come under the lowest tax slab. A rate of 18% was imposed on insurance rather than the expected 5%. Several representations were made and sent to the GST Council to request for a change in rates but the 18% which was previously decided on was levied. Insurers were also looking for an increase in the deadline for the implementation of the GST but this is unlikely to happen.

      Currently, a 15% rate of interest is applicable which includes taxes like service tax and a few other cess. An increase of 3% would directly impact the customer as insurance companies have decided to let the customer bear the extra costs.

      22nd June 2017

    • SBI Eyeing General Insurance IPO in Coming Fiscal

      India’s largest banking institution, State Bank of India, recently announced that it is planning to make their general insurance business public in the coming fiscal. The insurer reported profits in the last fiscal of 2016-2017, and has decided to wait out this ongoing fiscal to launch their IPO (initial public offering), said Mr. Dinesh Kumar Khara, Managing Director (associates and subsidiaries) at SBI. He also added that while SBI Life Insurance may launch the IPO, SBI and Cardif (SBI’s joint venture partner) will jointly offload 12% stake in the coming few months. Here, SBI has proposed to sell 8% while Cardif will sell 4%.

      In another announcement, Mr. Khara said that SBI General Insurance achieved a break-even status in 2016-17, which is the insurer’s 6th full year of operations. The insurer registered profits of Rs.153 crore opposed to the last year when they suffered losses of Rs.120 crore. The gross written premium went up by 27% and stood at Rs.2,607 crore in 2016-17 as compared to Rs.2,041 crore in 2015-2016. Mr. Khara also mentioned that SBI Life Insurance plans to soon file the Draft Red Herring Prospectus (DHRP) as well.

      SBI General Insurance was formed following a joint venture between SBI and Insurance Australia Group where SBI holds 74% stake and Insurance Australia Group holds the remaining 26%.

      21st June 2017

    • Private Life Insurers experience exponential growth in May

      Private insurers in the country have experienced an average increase in sales of 38%. Most believe the premium sales are a result of the customers willing to use insurance products as a tax savings tool. According to a source, Most large private players reported 20-30% growth in APE, high growth at ICICI Prudential Life (up 100% year-on-year) lifted private sector individual APE growth to 46%, excluding ICICI Prudential Life, the rest of the private sector reported 30% individual APE growth.

      19th June 2017

    • Group and Individual Single Premiums for May 2017 Fall for Private Insurers

      A decline in premiums was reported by private life insurance companies in both group as well as individual single premium categories on a month-on-month basis. Although the fall in May 2017 was 12.8% and 26.58% respectively for individual and group premium segments, the fall between last May and this May was reported at 10% and 24.43% respectively for individual and group single premium segments as revealed by the business figures released by the Insurance Regulatory and Development Authority of India.

      15th June 2017

    • IRDAI takes over the reins of Sahara India Life Insurance

      Insurance regulator, IRDAI stated that it will be taking over the management of Sahara India Life Insurance, going forward. The reason for the same was attributed to the company “acting in a prejudicial manner” to the interest of subscribers.

      IRDAI has appointed one of its general managers, R K Sharma, to administer the affairs of the insurance company. The insurance regulator mentioned that the administrator will be conducting the management of the business as per the provisions of the Insurance Act, 1938. IRDAI has asked the management and staff of the company to extend maximum support to the administrator in managing the affairs of the business.

      Sahara India Life Insurance had sold 665 policies during the April-May period this financial year, and this amounted to Rs.1.53 crore in revenue. The regulator mentioned that all policy servicing activities will be done according to the existing terms and conditions even after the change in management.

      13th June 2017

    • Life Insurance AUM Rises By 18% To Rs.30 lakh crore in FY17

      The life insurance industry recorded a 17.78% rise in asset under management (AUM) during the previous financial year of 2016-17 which in turn has facilitated better growth in inflows and the equity market following demonetization.

      As per the data collected by the Life Insurance Council, the total asset under management (AUM) in 2016-17 rose to Rs.29.80 lakh crore as opposed to Rs.25.3 lakh crore recorded in the previous year. The insurance sector saw a lot of inflow coming by way of ULIPs as equities became popular among investors.

      12th June 2017

    • IndiaFirst Life Settles Claims Worth Rs.161 Under PMJJBY Scheme

      Leading private sector life insurer, IndiaFirst Life Insurance recently announced that it has settled claims up to the amount of Rs.161 crore under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme, providing support to nearly 8,000 families. The current policy period for the PMJJBY which began earlier this month has already recorded enrolment of nearly 2 million people. PMJJBY is a financial inclusion scheme which was launched in 2015 and is being promoted by the government. 2017 marks the three years enrolment that has been carried out by IndiaFirst Life Insurance for the PMJJBY scheme which provides individuals life cover of Rs.2 lakh on the annual payment of Rs.330.

      9th June 2017

    • Aviva Life Unveils New Online Term Plan Called ‘i-Life Total’

      India’s leading private insurance company, Aviva Life Insurance, recently announced the launch of a brand new online term plan known as the ‘i-Life Total’. This is a non-linked, non-participating life insurance term plan which comes with 4 options which are Protect – life cover with in-built terminal illness benefit, Protect Plus – life cover which doubles in case of accidental death, Protect Assured – 120% returns of all premiums paid until maturity and Protect Income – provides regular pay outs to your family if you are not around anymore.  

      5th June 2017

    • Life Insurers to seek better rates for GST regime

      The life insurance industry is set to meet with the Government to try to obtain better rates than what were earlier offered for the Goods and Services Tax (GST) regime. A formal representation is expected to be sent through the Life Insurance Council. Insurance agencies would be placed in the 18% tax bracket which is a 3% increase from the current 15% bracket. According to V. Manickam, Secretary General of Life Insurance Council, an insurance company under the new GST structure will have to fill out 1,800 forms once under the new bracket. This would eat into a lot of productive time that could have been spent on other important issues. The Insurance Regulatory and Development Authority of India (IRDAI) will soon be meeting with the Chief Executive Officers of various life insurance companies to discuss the issue of a higher service tax.

      2nd June 2017

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