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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
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    Customer Reviews

    • Bharti Axa Life Life Insurance
      "Benefits are good"
      0.5 5.0/5 "Blown Away!"
      Bharti Axa life insurance is pretty good in the customer services. They send me reminders for the payments and it is easy to make the payments online as well. The tenure is for 25 years and the benefits and coverage for the policy is satisfactory.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 25, 2017
    • LIC Life Insurance
      "Better policy to use"
      0.5 4.0/5 "Great!"
      I got a life insurance policy with LIC. This policy has the tenure around 15 to 20years. I hold this policy around 2 years ago. The plan benefits and the coverage is good with this policy. I pay the premium through LIC online web portal. I am happy holding this policy with LIC.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 25, 2017
    • Max Life Insurance
      "Good policy"
      0.5 3.0/5 "Satisfactory"
      I hold a max bupa life insurance policy for more than a year. The customer service is good with this policy. I pay the premium through cheque. The agents will come and collects the premium amount within the assigned date and time. This policy has the tenure of 15years. I am satisfied having the policy with max life.
      Was this review helpful? 0
      , madurai
      Reviewed on Sep 25, 2017
    • LIC Life Insurance
      "BEST"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the LIC of India and am having it from the last two years of time. The response is good one for me with the LIC of India and their customer service is good one with them. Policy coverage and plan benefits are really okay one for me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 25, 2017
    • LIC Life Insurance
      "Average"
      0.5 2.5/5 "Just OK"
      I am having the life insurance policy with the LIC of India and am using it from the last fifteen years of time. Customer service and other things are good one with them and it really working according to the agents.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 25, 2017
    • LIC Life Insurance
      "Its average"
      0.5 5.0/5 "Blown Away!"
      I do have Jeevan Suraksha policy, My premium around Rs.32,000 per annum for the tenure period of 18 years. every five years I get the bonus interest .After the maturity sum assured around 16 lakhs, I hope this policy has low benefits with low tenure.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 25, 2017
    • LIC Life Insurance
      "Excellent Return"
      0.5 5.0/5 "Blown Away!"
      I trust only LIC, my advisor told to take Jeevan Anand policy. I was paying the premium around Rs.39,000 it has the tenure of around 22 years. After maturity around I will get the sum assured around Rs. 25 lakhs. It a ever green policy it gives a coverage till my life.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 25, 2017
    • ICICI Prudential Life Insurance
      "Good"
      0.5 2.0/5 "Expected more"
      I am having the life insurance policy with the ICICI prudential life insurance company. Response is also a good one with the ICICI prudential insurance company. Plan benefits are good one with the ICICI prudential life insurance company.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 25, 2017
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a very good service from LIC ,representatives and customer service was very helpful they use to update me regularly regarding the new schemes and new offers and I have taken for 30 years . Representatives will be always in touch they use to remind me regularly regarding payment due,so overall I can say it was a excellent service from LIC.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 24, 2017
    • LIC Life Insurance
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      It was a very good service from LIC ,representatives and customer service was very helpful they use to update me regularly regarding the new schemes and new offers . Representatives will be always in touch they use to remind me regularly regarding payment due,so overall I can say it was a excellent service from LIC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 24, 2017
    • HDFC Life Life Insurance
      "Best policy to use"
      0.5 5.0/5 "Blown Away!"
      Holding a HDFC life insurance policy for 10years. The service is good with HDFC insurance department. I pay Rs,10,000 every year towards this policy. The plan benefits and the coverage is good with policy, I pay the premium through Cheque.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 24, 2017
    • HDFC Life Life Insurance
      "Good child plan "
      0.5 5.0/5 "Blown Away!"
      I am having a HDCF life insurance for 15years . The name of the policy is child plan life insurance. The service is good with HDFC life. I pay Rs,20,000. The plan benefits and the coverage is good with this policy. I pay the premium through Cheque.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 24, 2017
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    Life Insurance is Rated as " Excellent!" by 13598 Users
     4.5 / 5.0   by 13598 users
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    Life Insurance BYTES FROM OUR KITCHEN

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

    rated 4.5/5.0 by 13598 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

    • How Life Insurance Can Help You Fulfil Your Financial Goals

      Most of us live under the impression that life insurance is an instrument which provides financial protection in case of a personal calamity. However, what most people aren’t aware of is, that life insurance can also serve as an efficient tool for financial planning and helping one meet their financial goals such as your buying a house or car, planning for your child’s education, wedding, saving up for your retirement, etc. Now, there are various types of insurance policies that are available in the market which are designed to cater to different insurance and investment needs.

      Here is a brief about which policies are suitable to be taken at different stages of your life.

      When You Are Getting Married

      If you are planning to get married, then you should make sure that a term insurance plan is a part of your financial portfolio. When taking a term plan, you should remember that the earlier you get the plan, the lower your premiums will be. At a younger age, your will be in better health and will have lower risk as compared to when you are older. Normally, the sum assured under a term plan is calculated based on your present salary and is typically an amount which is 15 to 20 times that of your annual income.

      When You Have A Child

      Term insurance plans are also known as pure term plans as they provide cover against the ultimate risk of death. If you have become a parent and are the only income earner in your family, then a term plan is again a must-have for you which can help protect your dependents from any unforeseen financial scarcity which may arise following your untimely demise. The other important reason why a term plan is important is, because it saves your depends from the burden of having to budget their needs in order to repay any liabilities such as loans, debts, credit card dues, etc. also useful to have is a term plan with riders which can help to further enhance the scope of coverage provided under the base plan. If you are planning to create a corpus for your child’s education, then a Unit Linked Insurance Plan or ULIP is your best option. ULIPs not only allow you to get life insurance coverage but also provide you with a chance to invest your capital in funds of your choosing so you can fulfil your financial goals.

      When It’s Time To Retire

      Retirement is a well-deserved period of every working person’s life when they do not have to worry about work any more. However, the period leading up to retirement can be anxiety-ridden for some people who have not started planning for their retirement. The key to achieving financial independence after retirement is to start saving from early on. Planning in advance is the most important thing you can do to ensure that you create a sufficient and comfortable retirement corpus for yourself and your dependent. For this purpose, a long-term ULIP plan is one of the best options. These plan are similar to mutual funds in working. The policyholder will pay a certain amount on a monthly basis which will get accumulated and can be utilized once the term of the plan comes to an end. The advantage of this plan is that it provides you with equity returns which will be higher as the years pass.

      25th September 2017

    • Day 2 of SBI Life Insurance IPO Sees 58% Subscription

      SBI Life Insurance’s IPO (initial public offer), which was launched on Sept 20, is reported to have been subscribed 58% on Thursday, which was the second day of the sale. As per the data received from stock exchanges, till 5pm, the portions of the shares reserved for institutional investors and retail investors had been subscribed 1.58 times and 0.37 times, respectively. The chunk of shares that had been reserved for high net worth investors had only been subscribed at 8%. SBI Life’s IPO will close on 22 September 2017.

      For the IPO, SBI Life has priced the shares in the band of Rs.685 to Rs.700 per share. At the upper end of the price band, the initial share sale will put the firm’s value at Rs.70,000 crore. The IPO is a pure offer for sale wherein SBI is offering 8% stake and it’s partner BNP Paribas is offering 4% of its stake. After the IPO, SBI and BNP Paribas will end up with 62.1% and 22%. SBI Life Insurance was founded in 2001 and is a joint venture between India’s largest lender, State Bank of India and BNP Paribas Cardif.

      22nd September 2017

    • Max Life and Birla Sun Life Have Initiated Merger Talks

      Two of India’s premier insurance providers, Max Financial Services, led by Analjit Singh and the Aditya Birla Group are in talks to explore the possibility of a merger of their life insurance businesses with the aim to create one of India’s largest and finest private life insurance company.

      Simultaneously, Mr. Analjit Singh is also reported to be in negotiation with UK-based Northern Trust which manages a trillion dollar of assets and PE firm Apax Partners to sell his promoter stake of 30% in Max Financial Services.

      Negotiations between the two companies are still in their nascent stage. However, there is no guarantee of a transaction to materialize from these negotiations. The key factor behind the talks being held for this merger is the fact that Birla Sun Life lacks large bank partners like Max Life has (Axis Bank, Yes Bank). Birla Sun Life has managed to tie up 6 banks last year, but these are mostly smaller banks. An official privy to the ongoing talks mentioned that the Max Life – Birla Life discussion are being held only at a shareholder level at present to figure out the correct structure. The discussions have not reached a board level yet. He said, that ‘increased scale can potentially yield to benefits of cost synergies as well as multi channel distribution, through agencies, brokers, direct marketing and bancassurance.’

      21st September 2017

    • SBI Life Insurance IPO Launches Today, Experts Suggest Getting Long-term Subscriptions

      SBI Life Insurance, a subsidiary of India’s largest lender, State Bank of India, is all set to launch its Rs.8,400 crore initial public offering (IPO) in the stock market today. According the experts, the issue has been fairly priced and it is best for investors to invest in the fund with a long-term perspective. SBI Life Insurance’s IPO is likely to be the biggest IPO to hit the market since the October 2010 public issue taken out by Coal India Ltd. In terms of issue size, SBI’s IPO is going to be the fourth largest.

      SBI’s has priced its IPO shares in the band of Rs.685-Rs.700 per share. In this IPO, SBI Life Insurance and it’s joint venture partner, BNP Paribas Cardif SA are going to sell 8% and 4% of their stakes in the life insurance firm respectively. While SBI is expected to collect nearly Rs.5,600 crore after selling it’s stake, BNP Paribas Cardif is expected to earn around Rs.2,800 crore.

      SBI Life insurance is currently ranked as the country’s biggest private life insurance provider in terms of new business premium (NBP) generated in each financial year since 2010. The insurer has also gained NBP market share in the private insurance industry which has gone up from 15.87% in FY15 to 20.04% in FY17. Between these two fiscal years, SBI Life recorded a CAGR (compounded annual growth rate) in their NBP of 35.45%, which is the recorded highest in terms of total premium among the top 5 private life insurers in the industry.

      Angel Broking analyst, Mr.Jaikishan J. Parmar said that SBI’s premium valuation is justified given its higher incremental market share gain. This is the reason why investors are being advised to subscribe to the issue with a long-term perspective. Experts are advising against investing in the issue with the objective to make listing gains.

      20th September 2017

    • Prataap Snacks & SBI Life Insurance All Set To Launch IPO

      2017 seems to be the year of IPOs. Following the IPOs of ICICI Lombard General Insurance (September 15-19), Capacit'e Infraprojects (September 13 to 15), and Matrimony.com (September 11 to September 13), SBI Life Insurance is the next company which is all set to launch their IPO on 20 Sept 2017 and expects to raise up to Rs.8,400 crore. Their issue closes on September 22. Opening on the same date is the IPO for Indore-based snacks maker Prataap Snacks, which plans to raise up to Rs.482 crore.

      Prataap Snacks is an Indore-based snacks manufacturer which is expected to raise approximately Rs.482-crore via their initial public offer (IPO) which will open for subscription on 22 Sept 2017 and close on 26 Sept 2017. The price of equity shares being offered during the issue will be within the price band of Rs.930 – Rs.938 per equity share. Out of the total Rs.482 crore issue, Rs.200 crore will be via fresh equity issue and the remaining will be from offer for sale. Like SBI Life Insurance, eligible employees of Prataap Snacks will also be offered a discount of Rs.90 per share on the issue. Prataap Snacks manufactures products under the ‘Yellow Diamond’ brand, and aims to utilize the IPO proceeds to expand and increase its chip and namkeen manufacturing capacity by 50%. It also plans to use the funds for furthering marketing and brand building activities and also retire the debts.

      SBI Life Insurance is a subsidiary of the State Bank of India, the nation’s most prominent lender, and will be raising approximately up to Rs.8,400 crore. Their initial share sale offer will open on 20 Sept 2017 and close on 22 Sept 2017. The price per equity share will be within the band of Rs.685 - Rs.700. Eligible employees looking to purchase the shares will be offered a discount of Rs.68 per share on the offer price of each share. SBI Life’s IPO is going to be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).

      19th September 2017

    • SBI Life Insurance & Prataap Snacks To Launch IPOs this week

      The year 2017 is undoubtedly a good one for the Indian IPO market as various companies are gearing up to launch their IPO. In September, India will see the launch of IPO’s by SBI Life Insurance and Prataap Snacks. Their initial share sale offers are expected to raise about Rs.8,882 crore.

      SBI Life Insurance is a subsidiary of the State Bank of India, the nation’s most prominent lender, and will be raising approximately up to Rs.8,400 crore. Their initial share sale offer will open on 20 Sept 2017 and close on 22 Sept 2017. The price per equity share will be within the band of Rs.685 - Rs.700. Eligible employees looking to purchase the shares will be offered a discount of Rs.68 per share on the offer price of each share. SBI Life’s IPO is going to be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).

      Prataap Snacks is an Indore-based snacks manufacturer which is expected to raise approximately Rs.482-crore via their initial public offer (IPO) which will open for subscription on 22 Sept 2017 and close on 26 Sept 2017. The price of equity shares being offered during the issue will be within the price band of Rs.930 – Rs.938 per equity share. Out of the total Rs.482 crore issue, Rs.200 crore will be via fresh equity issue and the remaining will be from offer for sale. Like SBI Life Insurance, eligible employees of Prataap Snacks will also be offered a discount of Rs.90 per share on the issue. Prataap Snacks manufactures products under the ‘Yellow Diamond’ brand, and aims to utilize the IPO proceeds to expand and increase its chip and namkeen manufacturing capacity by 50%. It also plans to use the funds for furthering marketing and brand building activities and also retire the debts.

      18th September 2017

    • SBI Life Insurance Co. Ltd growth in FY18 comes at a good time for its IPO

      SBI Life Insurance Co. Ltd has seen phenomenal growth in FY2017. The growth has continued in the first quarter of the current fiscal year which is good for the Initial Public Offering (IPO). BNP Paribas Cardif and State Bank of India, the promoters of SBI Life Insurance Co. Ltd aim to get Rs.2,400 crore and Rs.5,600 crore from the IPO, respectively. The price of the IPO is set at Rs.685 to Rs.700 apiece. SBI Life Insurance is valued at Rs.70,000 crore at this price band. The insurance company's business premium has grown 35% between FY2015 and FY2017. The company's assets under management has increased 17.1% among its competitors. Bancassurance contributed 60% of SBI Life's new business premium for the June quarter and rest was contributed through agency.

      15th September 2017

    • Why is life insurance important?

      Life insurance helps secure your family's financial future in the case of unfortunate demise of the life insured. The death benefit paid to the beneficiary can be used to pay off loans, education fees, wedding expenses, etc. Life Insurance can serve as an investment as well as a tax planning tool. Before choosing a life insurance plan, it is important to do your research and assess your insurance needs.

      Types of life insurance plans

      From term plans and endowment policies to ULIPs and money back plans, there are different types of life insurance products available in the market to meet the varying needs of the customers.

      • Term plans: This is the most traditional form of life insurance policy that is not only cheap but also offers maximum cover. Term plans are for a fixed period of time such as 10, 20, and 30 years.
      • Endowment plan: An endowment policy much like a term plan offers insurance cover to the policyholder for the entire policy term. It also pays a lump sum amount upon maturity. Endowment policies can be purchased as regular policies or Unit Linked Insurance Plans (ULIPs).
      • Unit Linked Insurance Plans: With ULIPs, you can build wealth in addition to offering the security of life cover. Part of the premium payment is invested in funds while the rest is directed towards life cover.

      How to assess your life insurance needs?

      Determining your insurance requirements can help you choose a suitable life insurance cover to secure the financial future of your family. Take your income, debt, future commitments, and family members into consideration. To select the right life insurance policy, visit a third-party comparison website like BankBazaar.com, compare various policies across the top life insurers, and get an instant quote on your chosen policy.

      14th September 2017

    • Important Things to Know About Life Insurance

      Life insurance is a great product to invest in as it offers peace of mind and helps you rest assured that your family will be financially able even in case something unfortunate were to happen to you. Life insurance is also a great option for saving for your retirement and old age, making it a crucial financial asset to possess.

      Who Needs It?

      Life insurance is a great option for anyone who has financial dependents, like a spouse who does not earn regular income, ageing parents, or young children. Life insurance provides a substantial amount of savings which can be used to cover your family in case you are no longer able to provide for them.

      How Much Insurance Do You Need?

      It is essential to seek professional help when determining the amount of cover you will require when taking out a life insurance policy. The most important factor to consider would be how much cover your family would require in case of your absence. You will also have to consider the period of time for which they will require financial support in case of your absence. Keep young children who will require financial support for their education as well as higher education in mind. You will also have to keep in mind any debts you may have and how much cover would be required to cover the same in your absence.

      How Much Will It Cost Me?

      Life insurance policies will cost you depending on a variety of factors, like your age, whether or not you have existing health problems, and the period for which you will require the financial cover. The payments towards life insurance policies are usually made on a periodic basis in the form of premiums. However, there are some policies that can be purchased with the payment of a single lump-sum amount.

      13th September 2017

    • SBI Life Insurance gets approval from SEBI for Rs.8,400 crore IPO

      SBI Life Insurance received approval from the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of up to Rs.8,400 crore from September 20th to 22nd of this year. SBI Life’s IPO will be 12% of its equity capital or 120 million secondary shares. State Bank of India owns 70.1% of SBI Life Insurance while BNP Paribas Cardif holds 26% stake. The bank will sell 80 million shares while BNP Paribas Cardif will sell 40 million shares.

      Temasek Holdings and KKR Asian Fund are the other major shareholders who own 1.95% stake through their subsidiaries. The launch date is subject to the approval of the Registrar of Companies. Axis, Citigroup, SBI Capital, BNP, ICICI Securities, Deutsche Bank, Kotak, and JM Financial are leads on the IPO.

      11th September 2017

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