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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

    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I had a life insurance policy with LIFE INSURANCE CORPORATION OF INDIA. I got this policy 4 years Ago. This policy has the tenure of 25 years. At present I am not having this policy due to some personal issues I have stopped paying the premium. I pay the premium of Rs,3000 in every 6 months once.The plan benefits and the policy overages are good with LIC.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Jul 19, 2017
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I got a Money back Insurance policy with LIC . The customer service and the response is good with LIC. I have this policy for past 12 years. I pay the premium every month. I pay the premium of Rs.600 and policy overages and the plan benefits are good with this policy. I pay the premium through online which is easy to do. This policy has the tenure of 20years,
      Was this review helpful? 0
      , madurai
      Reviewed on Jul 17, 2017
    • LIC Life Insurance
      "Guaranty Policy"
      0.5 4.0/5 "Great!"
      I have Jeevan Bheema policy, It is a central govt policy, I pay the premium of Rs.5000 on monthly basis it has the tenure of 20 years. After the tenure I will be getting good return, even it has coverage, accidental, tax benefit coverage. I am very fine.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 13, 2017
    • LIC Life Insurance
      "Flexible term policy"
      0.5 4.0/5 "Great!"
      Earlier I had LIC policy, at the time. I paid the premium of Rs.21,000 on annum basis, I had the tenure of ten years. I was term comes return policy, after the maturity I got the return of Rs.3 lakhs. I am fine with that policy, Again I will plan for new policy later.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2017
    • LIC Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have Jeevan Anand policy, I pay normally the premium of Rs. 2500 from my end and 2500 contribution from my company end on monthly basic. My company deduces the premium from my salary it has the tenure of 15 years. After tenure approximately I would be getting the return of 15 lakhs .
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 12, 2017
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I am holding a life insurance policy with LIC of India for past 4 years. I pay the premium of Rs.3000 in every 3 months once. The customer service is good with LIC. I pay the premium via cash or cheque. The LIC agents will come and collects the payment on assigned time. I am happy to hold this Bheema gold policy.
      Was this review helpful? 0
      , gulbarga
      Reviewed on Jul 12, 2017
    • LIC Life Insurance
      "Very good and reliable"
      0.5 4.5/5 "Excellent!"
      I pay normally Rs. 24,500 on yearly basic for Jeevan Anand policy, it has the tenure of 20 years. It always reliable and trustable policy. After the tenure of the policy I will be getting the return around Rs.5000 includes principal + interest rate.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 11, 2017
    • LIC Life Insurance
      "The best policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a money back policy with LIC. The tenure is for 15years. I make my payments through ECS on a monthly basis. It is a very economical premium of Rs. 963. The benefits is that I would get a cash back bonus of 20K every five years. After the maturity I would approximately get 4.60 Lakh,
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jul 11, 2017
    • ICICI Prudential Life Insurance
      "Good for family protection in aspects"
      0.5 5.0/5 "Blown Away!"
      I have term insurance with ICICI, I am paying the monthly payment of Rs.1251, After GST they started taking Rs.1300 it has the tenure period of 40 years. After me ,my family will get the reimbursement of Rs.50 lakhs its one shot. Its good for my family.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 10, 2017
    • Bajaj Allianz Life Life Insurance
      "They should gives offers to the customer"
      0.5 4.0/5 "Great!"
      I had a policy with Bajaj Allianz its a life insurance but based on the market rate, I paid the premium of Rs.10,000 on yearly basis it had tenure of 10 years. During the tenure period market rate gone down hence it came to Rs.69,000. Therefore I had cancelled this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 10, 2017
    • LIC Life Insurance
      "Good investment and safe satisfactory service"
      0.5 5.0/5 "Blown Away!"
      LIC is one of the trusted company, I have three to four policies with them. For money back policy, I used to get some bonus interest on every five years. I used to pay the premium of Rs.4000 on quarterly basis for Rs. 1.70 as policy coverage. This policy has the tenure 20 years its good for investment.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 10, 2017
    • PNB Metlife Life Insurance
      "Fraud policy And of no use policy"
      0.5 0.5/5 "Unacceptable"
      Completely fraud policy. Don't take this. I have taken that. Now PNB saying 13 lakhs after 10 years and that is also not assured after depositing 1 lakh each year It was promised 10% per year return. Means a minimum of 20-25 lakh. 21825446 - Policy Number Regards Samkit Jain
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 10, 2017
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    Life Insurance is Rated as " Excellent!" by 13189 Users
     4.5 / 5.0   by 13189 users
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    rated 4.5/5.0 by 13189 users
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    Useful Tips To Buy Life Insurance
    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

    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.

    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.

    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

    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!


    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.

    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.

    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.)

    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.

    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.

    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.

    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

    • Claim ratio of government schemes go up to 170% in FY-17

      The claims-to-premium ratio for the government term life insurance scheme, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), reached 121% in 2016-17. For the Pradhan Mantri Suraksha Bima Yojana (PMSBY), the ratio went up to 170% in 2016-17.

      Both these schemes were released in May 2015 in order to offer reliable social security protection at an economical prices. For both the schemes, the premiums have to be paid by the end of May on a yearly basis.

      The high-claim ratios of these 2 schemes have resulted in a sense of pressure among other public as well as private insurers.

      17th July 2017

    • Income of life insurance companies on new business up by 6%

      The premium income of life insurance companies on new business rose by 6% to stand at Rs.33,156 crore in the first quarter of the current financial year. These figures are in comparison to the statistics last year.

      The first year premium on new policies in the private sector rose 12% to Rs.9.872 crore, as per data from the Insurance Regulatory and Development Authority.

      Life Insurance Corporation witnessed a growth in new business income by 3% to stand at Rs.23,284 crore.

      Other insurers that observed marked growth in new business premium are ICICI Prudential with 57% growth, PNB Metlife with growth of 22%, HDFC Life with 15% growth, and Max Life Insurance with 16% rise in new business premium.

      SBI Life observed 3% decline in new business as well.

      14th July 2017

    • HDFC Life and Max are planning to build a new merger

      HDFC Life Insurance Co. Ltd and Max Life Insurance Co. Ltd have postponed the deadline for discussing the mergers until the 31st of this month. Both the private insurers are planning to have a new merger structure after the insurance regulator rejected the actual 3-step union.

      The board of HDFC Life will be meeting soon in order to evaluate this new structure. Under this new structure, HDFC Life and Max Life will collaborate and merge to create a new company known as HDFC Plus. This new company will then have a new subsidiary which will soon have the insurance business. This indicates that HDFC Plus will function as a holding company for the insurance business.

      13th July 2017

    • SBI Life Insurance all set to go public

      Shares of the State Bank of India (SBI) gained more than 1% on Tuesday after the directors' board approved the dilution of SBI's stakes in its life insurance wing. Once SBI Life Insurance is listed on exchanges it would be the second insurer in India to go public.

      The IRDAI had approved SBI Life's IPO application of Rs.7,000 crore last week. This is the largest share sale by a life insurance company in the country. The company is currently awaiting the final approval from Sebi.

      In spite of pending approvals, the board has made a decision to go ahead with the sale of equity shares of up to Rs.8 crore. The price will be fixed at a later date after consultation with parent SBI and BNP Paribas Cardiff, the company's foreign partner.

      SBI Life has currently engaged Citi, Axis Capital, BNP Paribas, and Kotak Investment Bank to manage the initial sale of shares.

      12th July 2017

    • SBI Life Receives Final Approval from SBI Central Board for IPO

      SBI Life Insurance will soon become the second insurer to go public after ICICI Prudential Life. SBI has approved the dilution of its stake in the life insurance company through a public offering and has now received a sectoral regulatory approval. The Insurance Regulatory and Development Authority of India (IRDAI) has recently approved a Rs.7,000 crore IPO application filed by SBI Life. SBI Life follows ICICI Prudential as the second largest private life insurer. SBI Life's net profit last year has shown a growth of 10.9% to Rs.954.65 crore from the previous year's Rs.861.03 crore in March this year.

      11th July 2017

    • Canara HSBC Oriental Bank of Commerce Life Insurance collaborates with Dhanlaxmi Bank to promote bancassurance

      Canara HSBC Oriental Bank of Commerce Life Insurance, a leading private life insurer, has entered into an agreement with Dhanlaxmi Bank, a bank based in Kerala in order to promote life insurance products.

      The bank will be a corporate agent for the insurance company for a period of 3 years. However, both the bank and the insurance company plan to have a healthy relationship for a long period.

      The plan to sell bancassurance products is being implemented in order to help both customers as well as the banks. It is a cost-efficient plan and has also proved to increase the sale of life insurance policies.

      11th July 2017

    • Penetration of insurance in India increases to 3.49%

      A report by reinsurer Swiss Re indicated that the insurance penetration in India has seen a growth from 3.40% to 3.49% in the financial year, 2016-17. Insurance penetration is measured as a percentage of premiums to gross domestic product, i.e., GDP.

      General insurance penetration stands at 0.77%, while life insurance penetration is at 2.72%. Insurance density in India is at USD 59.7 for FY17, much lesser than the average for Asia. The global average for insurance density is USD 638.3.

      The report said that the initiatives undertaken by the Indian and Chinese governments to develop specific lines will support liability, credit, and agricultural insurance schemes.

      The report also mentioned that life premiums saw a hike of 8%, owing to the demand for immediate annuity plans post demonetisation. Further, it states that premiums are likely to increase in the coming years, owing to bancassurance systems, digital distribution avenues, and the promotion of protection schemes.

      7th July 2017

    • ICICI Prudential looking to take over Sahara Life

      Taking a swipe at the right time, ICICI Prudential is looking at a potential buy out of Sahara Life. In a statement confirming the move, ICICI Prudential said that they would like to confirm that we have expressed our interest to evaluate taking over policyholders liabilities and assets of Sahara Life. We are evaluating the way forward on the same. The last reported policyholders liabilities of Sahara Life is about 900 crore which is less than 1% of the company’s balance sheet size.

      06th July 2017

    • New crop insurance scheme sees overall positive response

      The campaign initiated by the Agriculture Department of the Kerala state government to increase the participation of farmers in the revised crop insurance scheme has seen success. The department has revealed that block panchayat level reports from Kozhikode district indicate that the revised scheme has been well-received. The scheme has not seen high popularity in urban areas of the distrcit, owing to lower population of farmers.

      Until recently, 10% farmers had only enrolled into the crop insurance scheme in Kozhikode district. Promotional events pertaining to the revised scheme has gained hundreds of fresh enrolments.

      The Deputy Director of Agriculture said that 50 individuals from each of the 81 Krishi Bhavans in Kozhikode had enrolled into the scheme during the drive. The revised insurance cover is provided for 25 crops, and will financially assist farmers in case of unprecedented events or loss.

      The government expects that the reloaded scheme will improve the participation of farmers in the future. Farmer’s organisations such as We Farm and Indian Farmer’s Movement (Infarm) have applauded the revised crop insurance scheme and its promotion. These bodies state that the increase in insurance coverage would greatly assist the ailing farming community.

      5th July 2017

    • Under GST, all insurance plans will not attract 18% tax

      The Goods and Services Tax (GST) regime that was implemented on 1 July 2017 has increased the tax rate on certain insurance products from 15% to 18%. Contrary to popular belief, all products will not see a hike of 3% in tax.

      If you are buying a new insurance plan, i.e., motor, term, health, or unit-linked insurance product, the 18% rate of taxation will be applicable. Earlier, the rate of service tax on these products were 14%, and along with cess, the final tax rate would come up to 15%. Now, there is a flat 3% increase in the rate of tax.

      If you are buying an endowment plan or a single premium policy, the tax rate is 4.5%. For renewal premiums, the tax charged is 2.25%. For single premium annuity plans, the rate of taxation is 1.8%.

      Effectively, there is a differential rate of taxation in insurance, based on the premium paying term and the type of product. It is also understood that micro-insurance policies with maximum sum assured of Rs.50,000 and government-sponsored insurance products will be exempted from tax.

      4th July 2017

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