"Spending a whole day looking for insurance is fun," said nobody, EVER!
  • 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
    rated 4.5/5.0 by 14507 users
    Insurance provider
    Grievances Solved
    Claim Settlement Ratio*
    Maximum Cover (Sum Assured)
    New Business Premium
    Maximum Maturity Age
    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.

    Landing Previous Arrow

    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
    Life Insurance is Rated as " Excellent!" by 14507 Users
     4.5 / 5.0   by 14507 users
    Used this product? Write a review >>

    Fees & Charges

    Promised Interest Rate

    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Life Insurance BYTES FROM OUR KITCHEN

    Articles About Life Insurance

    Key Things To Know About Life Insurance

    The concept of life insurance is not a new one. People have been making use of life insurance for over 4 centuries to protect not only themselves but also their loved ones from the possibility for an unfortunate event. Though life insurance seems to have been around for a fairly long time now, there are many people who are not quite aware of all the aspects involved in a life insurance policy. When it comes to purchasing life insurance, there are many people who take the assistance of life insurance agents for purchasing a policy, while several others who prefer doing their own research and purchasing a policy directly themselves.

    For someone who isn’t quite familiar with the workings of it, life insurance can be confusing to understand. Who are the parties involved in a life insurance policy? What is the eligibility age acceptable to apply for an insurance policy? How many types of life insurance policies are there? What factors affect the premiums of a life insurance policy? When is it best to purchase a life insurance policy? Is it wise to get life insurance as a tax saving instrument? These are just some of the many questions which will find answers to in this article.

    Best SBI Life Insurance Plans in India

    SBI Life Insurance is one of the pioneers in India’s life insurance segment. The insurer offers a variety of life insurance plans, some of which cater to individual (ULIPs, protection plans, retirement plans, child plans) and some to corporate group needs (group micro insurance plans, group loan protection plans). Offering the ease of online purchase, SBI Life insurance plans offer a range of other benefits like online payment of premiums, hassle-free claim process, high claim settlement ratio, and minimal paperwork required for application. Some of the popular life insurance plans offered by SBI Life insurance include SBI Life eShield, SBI Life – Smart Money Planner, SBI Life – Smart Humsafar, SBI Life – Smart Power, SBI Life – CSC Saral Sanchay, and more. If you are looking to purchase an SBI life insurance policy, read on to find out about the best policies which SBI has to offer, right here.

    Top 10 Life Insurance Policies In 2017

    When you purchase a vehicle or a house, you automatically purchase insurance for it. Why? Because of the value that is attached to the asset. The same way, life insurance is essential when it comes to human life. After all, it is one’s duty to protect their loved ones, is it not? Life insurance can help protect your loved ones financially in the unfortunate event of your untimely demise. In India, there are several insurers offering a wide range of life insurance policies. To know more about the most popular life insurance policies available in India this year, read on.

    Best 5 LIC Plans To Invest in 2017

    In the life insurance segment, LIC or Life Insurance Corporation of India has been one of the oldest and also one of the most preferred insurance provider for generations of Indians. The insurer offers a wide range of life cover policies such as protection policies, protection-cum-savings policies, endowment policies, endowment with protection and savings policies, and traditional savings policies, each of which has been designed to provide multiple benefits such as reversionary benefits, add-on riders for enhanced protection, choice of lump sum payout on maturity, loan facility, policy bonuses, and more. If you are looking for a suitable LIC plan, you can choose from LIC Jeevan Pragati, LIC Jeevan Labh, LIC New Jeevan Anand, LIC Jeevan Rakshak, and LIC Jeevan Lakshya. Read on to find out more about each plan and which one best suits your needs.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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

    • Calculate How Much Life Insurance You Need With This DIY Life Insurance Calculator

      For most of us, life insurance is something that simply cannot be ignored. While those who are not supporting any dependents may not need it as much as those individuals who have dependents relying on their financial support. With life insurance, you can stay assured that your dependents will stay financially protected in the unfortunate event of your death.

      The first step in buying a life insurance policy is determining how much life insurance you actually need. This is something you can find out by asking yourself 3 important questions. First, is there anyone who is financially dependent on you? Second, if you do have a dependent, for how long will they depend on you? And third, considering annual inflation @ 7%, how much funds would they need, including payments and liabilities?

      With this approach, it will become much simpler for you to actually arrive at a figure which is ideal for you, considering your dependents and their needs. Also, while you are at it, do be cautious to not over-insure or under-insure yourself, as both these can prove to be financially harmful in the long run. Take help from an expert or professional to figure out the amount that is ideal for you.

      22nd November 2017

    • Most common riders available with life insurance plans

      For individuals who are financially supporting dependents like young children, aged parents, or a spouse, getting a life insurance policy is a must. While life insurance policies are designed to provide all the necessary basic coverage, one always has the option of customizing the policy as per their lifestyle, with the help of add-on riders. Most insurers do offer riders along with life insurance plans to help the policyholder get enhanced coverage at a nominal cost. Some common riders available with life insurance policies listed below.

      Waiver of premium – This rider is offered by several insurers to help policyholders deal with a financial crunch following unfortunate situations. Usually, in the event of an accidental disability, or diagnosis of a critical illness, the rider will waive off future premiums either for a specified period, or for the remainder of the policy.

      Critical illness – This rider often acts as an income replacement. The amount that is paid under this rider is usually utilized towards meeting additional expenditures that have arisen due to the critical illness. While different plans will provide cover for differing critical ailments, it is wiser to find out which critical illnesses your insurer covers before getting the policy. Some major life-threatening diseases that are usually covered under critical illness riders are cancer, heart attack, tumour, kidney disorders, etc.

      Accidental death rider – Though nearly all term plans do provide cover against accidental death, this rider has been introduced especially for the beneficiaries. Therefore, in case of your accidental death, you nominees will not only get the death benefit payable under the base plan, but also the sum assured payable under the rider. The amount of the sum assured under the rider can either be selected by the policyholder, or could be a pre-decided amount set by the insurer.

      21st November 2017

    • Aegon Life Seeking Fintech Partnerships In Digital Drive

      In an effort to expand it’s customer base via the digital platform, Aegon Life Insurance looking to establish partnerships with fintech companies. The company is looking to start selling its policies online. When it comes to premium collection, among the 23 private sector life insurance providers, Aegon Life is only a step ahead of Sahara Life. The top position on the list is help by none other than LIC (Life Insurance corporation), which is the sole state-owned life insurer in the life insurance segment.

      During and interaction, Mr. Saibal Ghosh, Chief Investment Officer, Aegon Life Insurance, said that though market share is something that the company is constantly striving for, the current point of focus is to build the business more towards direct-to-customer and also increase adoption of digital mediums especially those with an omni-channel concept. Further adding to this statement, he said that the company’s focus will largely be on digital, considering that digital is set to the the next big thing. With this in mind, Aegon Life is seeking digital partners and also financial services companies which focus on digital.

      Talking of premium collection, Aegon Life earns around 30-35% or one-third of its business via digital platforms such as the mobile application or internet-based online channels. The remaining policies are sold through the company’s direct channel consisting of sales personnel.

      As per the data released by IRDAI (Insurance Regulatory and Development Authority of India), in October 2017, the insurer’s new premium collection increased by more than double Rs.9.37 crore, as compared to Rs.4.35 crore recorded in October 2016. During the period of April-October 2017-18, the insurer’s new premium increased by 74.4% to Rs.58.85 crore, as opposed to Rs.33.74 crore recorded earlier for the corresponding period.

      20th November 2017

    • Postal Life Insurance Likely To Become Major Business Segment For India Post

      The Department of Posts (India Post) has high hopes from the Postal Life Insurance (PLI) and Rural PLI schemes, which are expected to become a prospective business segment in the coming months. In Andhra Pradesh, the business turnover from these two insurance schemes contributes to nearly 10-12% of the business volume. This percentage is only expected to grow to almost 20% by the end of the current fiscal.

      Mr. V. Santhanaraman, Director of Postal Services, Kurnool, recently inaugurated the Aadhaar updation centre at the Tirupati Head Post Office. Speaking on the occasion, he said that India Post is planning to expand operations of several of it’s business propositions.

      PLI was first introduced in 1884 and was meant for employees working with the Posts and Telegraphs department. However, post-independence, the service was extended to State and Central Govt. employees after independence. A modified version, known as ‘Rural Postal Life Insurance’ was launched in the 1990s, in an effort to offer life insurance services to the rural sector.

      Considering the great success of the Postal Life Insruance scheme till now, India Post is now contemplating to extend this service to other sections of the society such as government school teachers, affiliated college lecturers, registered professionals and even employees who are hired by the State Govt. on contractual basis. Mr. Santhanaraman also announced that considering there is an ever-growing demandfor enrolment of new entries, Aadhaar updation centres will soon be converted into Aadhaar enrolment centres.

      16th November 2017

    • Tips On How To Choose The Best Life Insurance Policy

      Purchasing life insurance is a process which requires some caution and understanding. If you simply go and buy the first life insurance plan that is offered to you by an insurer, you can bet that it won’t be the right plan for you. Before you purchase life insurance, you must pay attention to your needs and requirements. And that is just the start. There is a lot more that is involved in the process of identifying your needs and matching them to the right life insurance plan that is available. We bring you some important tips which can make the task of selecting and purchasing the right life insurance plan easier for you.

      Never choose a life insurance policy based only on the premium. If you go for a cheaper policy, it is more than likely that the policy will not offer adequate coverage for your needs. Before you even begin to shortlist policies, evaluate your needs to find out which type of life insurance plan is best suited for you.

      It is most ideal to invest in a life insurance policy when you are young. This is because, the younger you are, the healthier you are likely to be, hence the lower your premiums are likely to be as well.

      There are various aspects which you must consider when evaluating a life insurance policy for yourself. Consider the policy’s benefits, features, sum assured it provides, the riders it offers, exclusions, terms & conditions, etc.

      Choose the policy period as per your requirement. When deciding the tenure of the plan, consider your liabilities and expenses such as mortgages, children’s upbringing, education, wedding, your retirement, etc.

      Take your age into consideration when you choose a life insurance plan.

      It is advisable to pick a plan which offers living benefits.

      Find out about the policy’s free look period before you buy it. Check the free look period of the policy in advance. It is advisable to compare between multiple policies online so you can see which one offers the benefits that you need and generally ticks all the boxes that you want it to.

      15th November 2017

    • Kotak Life Insurance Not Planning To Go Public In The Near Future

      Kotak Life Insurance, India’s 7th largest insurance provider, recently announced that it has no plans of getting publicly listed for at least the coming the 4 to 6 quarters. In the recent public offers launched by major players like SBI Life Insurance, and HDFC Standard Life, the large investors have given a fairly positive response. Mr. G. Murlidhar, Managing Director at Kotak Life said that the company does not have any plans on going public as of now. in terms of capital, the insurer is currently well-capitalized and is in no need of additional funds.

      As per reports, Kotak Life is not the only company which is refraining from hopping on to the IPO bandwagon. Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance, two of Bajaj Finserv’s insurance subsidiaries, are also not planning on going public anytime soon.

      2017 has seen the launch of some very successful IPO, especially those launched by big players like ICICI Lombard, General Insurance Corporation (GIC Re), and New India Assurance, which saw major subscription by institutional buyers. However, there was not much subscription from retail investors.

      Speaking of premium, Kotak Life registered a 21% year-on-year growth in new business premium business which stood at Rs.1385 crore at the end of October 2017. Kotak Life is now wholly owned by Kotak Mahindra Bank after the latter acquired 26% stake from Old Mutual Plc for Rs.1292 crore. Kotak Life also stood ahead of Life Insurance Corporation, having collected total new premium collected worth Rs.105939 crore by Oct 2017, while LIC collected Rs.77978 crore.

      14th November 2017

    • Deciding How Much Insurance You Need

      While buying life insurance is not difficult in itself, it is however the process that must be undertaken with care. Before buying life insurance, one needs to find out the amount of insurance coverage they actually require. There are some important factors which come into play when it comes to determining the life insurance coverage one requires, which are as follows:

      · Current assets – Take stock of all your current assets such as your bank savings, investments, PPF savings (Public Provident Fund), fixed deposits, etc. Remember, the greater your assets, the lower will be the insurance coverage you will need.

      · Current debts – Also take stock of all your current and likely future debts. The higher your debt (current and future), the higher will be the amount of insurance you will need to cover your dependents against the burden of that debt. Debts includes home mortgage payments, any financial liability, credit cards dues, any other loan payments, etc.

      · Your family’s requirements – When it comes to deciding your insurance requirements, it is crucial that you go over your family’s expenses. The few aspects to keep in mind are the cost of enabling your family to maintain their lifestyle when you are no longer around, in how many years will your minor children become self-dependent, have you enough savings so that your spouse may be financially secure after retirement, etc.

      · Additional expenses – Just like every individual is unique, every family will also be unique, in terms of their situation. Often, families have ailing elderly who need constant medical attention, or a specially abled child who might also be in need of specialized medical attention. If you have someone in your family who would require special attention in the future, this attention will also be an added cost. Make sure you account for this cost when calculating your insurance coverage, so such individuals are also well taken care of, if you are not around.

      13th November 2017

    • On Final Day Of IPO, HDFC Standard Life Insurance Shares Subscribed 4.89 Times

      On the closing day of the initial public offering (IPO), HDFC Standard Life Insurance Company witnessed a 4.89 times subscription. While the total issue size of the IPO is 21,97,59,218 shares, it received bids for a total of 1,07,50,87,700 shares as per the NSE data. Also, the reserved category for non-institutional buyers and non-institutional buyers were subscribed by 16.60 times and 2.29 times respectively. The total number of applications received for the IPO is 11.37 lakh applications.

      10th November 2017

    • Insurance Industry Needs To Come With Innovative Plans To Drive Growth

      If we look at some of the leading insurance markets in the world, India lags behind by a huge margin in bringing innovation to the overall insurance industry. Huge demographic changes are taking place in India at a very rapid pace as the socio-economic profile of the country is undergoing a transformation.

      With one-third of the population below the age of 35, there is a huge market that can be catered to. The Life Insurance industry must drive innovation to help citizens with better financial security plans during and after their life. The scenario demands product designers to go beyond the basic idea of insurance to shift from luxury to necessity.

      9th November 2017

    • HDFC Standard Life Insurance IPO To Begin On November 7th

      HDFC Standard Life Insurance Company’s IPO of Rs.8,695 will be open for subscription from 7th November to 9th November. The Insurance arm of the Housing Development Finance Corporation (HDFC) will be offering up to 29,98,27,818 equity shares, out of which up to 10,85,81,768 shares will be offered for sale by Standard Life (Mauritius Holdings) Limited which holds 34.75% shares in the company.

      The price band for the IPO will be Rs.275-290 each share and bids will be allowed for a least of 50 equity shares and in multiples of 50 for a greater volume. The IPO is aimed at enhancing the brand name of 'HDFC Life' and to offer liquidity to its current shareholders.

      7th November 2017

    Get More News on Life Insurance

    Customer Reviews

    • LIC Life Insurance
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      I have money back policy, I make premium around Rs. 800 it has the tenure of 20 years. After tenure period I would get the return value around Rs. 2 lakhs. I am fine with their life coverage and tax benefit is really good. I am very find with the LIC.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Good for the Tax Benefit"
      0.5 3.0/5 "Satisfactory"
      I have jeevan anand, I took it for tax benefits, Its has good life cover too but I would say its average policy. LIC online payment is convenient in their system, I used to receive the receipt through e mail. Their LIC agents are very prompt and responsible on my queries.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Average service"
      0.5 3.5/5 "Pretty good"
      I have three policy totally with lic for me and for my wife for the term period of 20 years the payments generally through online as well it will get deducted through ecs also they update me with new offers and schemes it was a average service from lic life insurance service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Good Investment"
      0.5 4.0/5 "Great!"
      I started this Life Insurance way back by 2004 and the policy would get matured in 20 years from then. I pay around Rs.828 per quarterly, and I use online for making the pay. I am expecting a good return from them pretty soon. Overall I am happy that I have made a good investment and going reap the rewards because of it very soon.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Good investment"
      0.5 4.0/5 "Great!"
      The LICs Life Insurance has been a good investment that I have been making, which I feel will be a good help in future. Yearly I am paying around Rs.10500 as premium and has maturity time of 15 years. I make the payment directly at the LIC using cash.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Average policy to use"
      0.5 3.0/5 "Satisfactory"
      I am holding a LIC policy from last 10 years and it is a long term policy. The tenire of this life insurance policy is 20 years. I pay my premium on annual basis through cheque and they provide door step service to collect the payment. I am also convenient with the payment options which they are providing. I have a coverage of Rs 5 lakhs which is fine and i am also happy with the benefits of this policy.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Not bad not good"
      0.5 4.0/5 "Great!"
      My Life Insurance was taken with LIC 4 years back . The tenure period was 17 years and the premium paid on half yearly basis. The customer service and responses was not unsatisfactory . I am satisfied with the benefit and policy coverage. Here the coverage returns is 5 lakhs and Its a tax benefit. My overall experience was not bad .
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a life insurance service from lic for my child and I have one jeevan anand policy the payments will be deducted through ecs the customer service was good ,I am disappointed I never get any update from them once I have applied for the insurance it was a average service from lic life insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with LIC from last 15 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in three months through online and i am convenient with the payment options which they are giving. Customer service is good and they are very helpful. The coverage and benefits are also good in this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 24, 2017
    • SBI Life Life Insurance
      "below average"
      0.5 2.0/5 "Expected more"
      I am not much happy about the service of sbi for my life insurance service because it is very difficult to claim the amount they have lot criteria to claim the amount and I have two policy with sbi one is shug nivas in them for the period of ten years it was below average service from sbi for my life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Life insurance corporation of India service was good I am disappointed that they never update me regarding new schemes and offers and I have taken it for my whole family as a five policy for the term period of 20 years it was a average service from Life insurance corporation of India life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • LIC Life Insurance
      "Average service"
      0.5 3.5/5 "Pretty good"
      I have three policy with lic one is for accidental policy and two policy is for children plan policy for the term period of 15 years the payments will be generally payed through online they never update regarding any new schemes and offers it was totally a average service from lic for my life insurance service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 24, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.