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    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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    Life Insurance is Rated as " Excellent!" by 12527 Users
     4.5 / 5.0   by 12527 users
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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.

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

    • Oriental Bank Has Partnered With Chola MS To Offer Insurance Products

      One of the leading private banks in India, Oriental Bank of Commerce, has joined hands with Cholamandalam General Insurance Company to offer a wide range of non-life insurance product. Going forward, Chola MS will sell their non-life insurance products to Oriental Bank of Commerce customers. Travel, motor, health, and home insurance are some of the insurances that will be sold by Chola MS. Animesh Chauhan, MD and CEO of the Oriental Bank of Commerce stated that they are happy to have partnered with Chola MS and are going to bring the best non-life insurance products to their customers. He further stated that Oriental Bank of Commerce customers will greatly benefit from this partnership.

      23rd February 2017

    • Life Insurers Report 35% Growth In New Business Premium

      The Life Insurance Industry in India reported a growth of 35% in new business premium as on January, 2017. The reason for hike in new business premium is mainly due to significant growth in the group as well as individual single premium policy. State owned Life Insurance Corporation of India(LIC) reported relatively higher growth than the private insurers. While the private insurers reported a growth of 26.31%, LIC recorded 39.06% growth in this financial year. A report from the giant of insurance industry, Irdai (Insurance Regulatory and Development Authority of India) supports this statistic. According to the report from Irdai, Rs.29 lakh crore new business premium was recorded by the Life insurance industry in India in this financial year. In the previous financial year, life insurance industry earned Rs. 85,871.62 crores premium.

      23rd February 2017

    • IndiaFirst Life looks to double revenues in FY17

      IndiaFirst Life Insurance is looking to double its profits in the financial year 2016-17, from the Rs.7.72 crore mark seen in the financial year 2015-16. RM Vishakha, MD & CEO of IndiaFirst Life Insurance, said that digitised mass markets and the rural domain will be the prime focus of the company. The insurer gets a large chunk of its income from distribution of policies at banks.

      Vishakha mentioned that about 90% of Andhra Bank branches were responsible for the sale of a policy throughout the year. Out of this, almost 60% of branches have sold an insurance product every alternate month. She also stated that 70% of the Bank of Baroda branches were selling insurance policies.

      Vishakha said that the opening of bank branch network to multiple insurance companies should not be mandated, as the banks have a large responsibility of selling policies. She also mentioned that the company has seen a 90% growth in premium in the individual segment, on an annual basis. Vishakha stressed that the company is looking to make a big entry into internet marketing, and the launch of their new website is a precursor to this. The CEO also stated that the company has reached almost 75% persistency in the renewal of insurance policies, a figure that is much higher than its competitors.

      22nd February 2017

    • Irdai To Form Actuary Panels For Life Insurance

      The Insurance Regulatory And Development Authority of India (Irdai) is all set to form dedicated panels for life insurance, health insurance, and other general insurance. Irdai has invited bids from actuaries ad firms who employ analysts to form the panel of actuaries. According to the bid document, each panel will be valid for a period of three years. For this year, the panel will be active from 1st April 2017 to 31st March 2017. The panel would be asked to give an opinion on the products filed by an insurer. Another responsibility of the panel will be to investigate the financial position of any insurer or to give a valuation report. The actuaries will also be required to approve the new products with their inputs and certification.

      21st February 2017

    • Launch of Life Pragati policy from HDFC Life

      Private life insurer, HDFC Life, has unveiled the Life Pragati policy that is targeted at the low income families in India. With the launch, they intend to widen the reach of life insurance to every single household in the country. The policy offers ‘with-profit’ life coverage that enables savings to grow with guaranteed premium returns. The plan, apart from enabling customers to save for future milestones, also provides financial protection to endure the uncertainties in life.

      At the launch of the product, the insurer stated that they have dedicated this product to the lower income group that constitutes almost half the population of India. They intend to help this strata of the society save for their future and also receive protection, without making a significant impact on their monthly income.

      20th February 2017

    • Post 3 years of launch, e-insurance still not seeing expected response

      As per current estimates, out of the 9.875 crore insured Indians, only 9 lakh have opened e-insurance or DEMAT accounts. This amounts to a mere 0.9% of the total insured population, indicating that the e-insurance initiative has not taken off like the other schemes introduced by the Government.

      e-insurance accounts are of immense help in events like tsunami or floods where people lose all vital documents that prove their identity. Data repositories opine that the biggest hurdle to the success of the initiative is the non-participation of LIC. Also, while the IRDAI has been in the forefront promoting the initiative, they have not mandated it. Another roadblock is the non-participation of majority of the general insurance industry in the initiative. Although 24 life insurance companies have signed up for e-insurance, only 8 general insurance companies have endorsed it. In addition, data repositories state that some life insurance companies consider establishing the infrastructure for e-insurance as an unnecessary cost.

      ICICI Lombard stated that more awareness needs to be created on the benefits of having an e-insurance account. The insurer is also trying to propagate the initiative through emails and social media.

      20th February 2017

    • Launch of Aviva Heart Care, India’s first heart insurance plan for couples

      On the occasion of Valentine’s Day, Aviva Life Insurance has unveiled the first heart insurance plan for couples in India, Aviva Heart Care. The plan provides cover for 19 severe, moderate, and mild cardiovascular diseases and procedures. A lump sum payment is made to the insured, irrespective of the treatment costs.

      The plan is unique as it provides coverage exclusively for cardiovascular conditions. The customer can avail coverage for his/her spouse as well, under the same policy at an additional premium. The plan has options for restoration of policy benefits when the basic sum assured is exhausted. The insurer claims that the plan is an answer to the problems faced by people who often have to depend on mediclaim or critical illness plans for such ailments. The coverage offered by mediclaim or critical illness policies may not provide a substantial payout, unlike the Aviva Heart Care plan.

      Other benefits of the plan include:

      • Comprehensive cover provided for 19 cardiovascular conditions.
      • Multiple claims can be raised, based on the severity of the condition.
      • Double coverage is offered for severe category ailments for both the policyholder and spouse.

      15th February 2017

    • Life insurance segment observes 11% rise in premium during Apr-Jan this fiscal

      The improvement in the spending capacity of the common man owing to the rise in per capita income has contributed to the spike in premiums collected by the insurance segment. The data released by the Insurance Regulatory and Development Authority of India (IRDA) has indicated that the premium collection by non-life insurance companies has risen by 31.7% in the fiscal 2016-17, to stand at 1.04 trillion rupees. On the other hand, life insurance providers observed a rise of 11% in AUM, when compared to the last financial year.

      The highest premium was collected by leading insurer, New India Assurance Co. Ltd., and this amounts to 156.4 billion rupees. ICICI Lombard tops the list of private sector general insurers with a premium collection of 91.4 billon rupees.

      The data also showed that public sector insurance companies mopped up 558.1 billion rupees, while private players collected 478.5 billion rupees during this interval. This clearly highlights the growth witnessed by the insurance sector and the stiff competition therein.

      15th February 2017

    • Life Insurance Corporation raises stake in Infosys

      Despite the fact that Infosys has made news with their top bosses involved a fearsome tussle, Life Insurance Corporation has increased its stake in Infosys to 7.02%, proving that it still has faith in the growth of the company. The largest institutional investor in the market, Life Insurance Corporation increased its stake by 4.45%. Earlier, the insurance company held a 3.25% stake in infosys, and the move makes them Infosys’s largest stake holder. Experts estimate that now Life Insurance Corporation now holds stakes amounting to more than Rs.1,400 crore.

      14th February 2017

    • Union Budget 2017 to have a Positive Impact on the Insurance Sector

      The Union Budget 2017 is expected to have positive effects on the insurance industry as a whole. Certain proposals in the budget are aimed at both life and non-life sectors. The budget has added more transparency in the tax collection system, which will bring up the number of taxpayers. So, in order to reduce the tax burden, a good percentage of the working population will opt for insurance plans. Further, to help people meet with their insurance needs, more companies are coming up with micro insurance plans. It provides flexibility in premium payments which will bring more people under the insurance coverage.

      14th February 2017

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