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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
    Life insurance is a contract that provides an individual financial protection from accidental injuries or death. The insurance company offering the coverage will have to be paid a premium in return. Life insurance is a great financial planning tool.
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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.

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    Life Insurance BYTES FROM OUR KITCHEN

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

    • A Rs.100 crore life insurance awareness campaign to be launched soon

      A Rs.100 crore multimedia campaign is set to be launched by the life insurance industry to help spread awareness about life insurance and help remove any misconceptions about the product. Many of the insurance companies, including Life Insurance Corporation of India have allotted funds for the campaign. The Life Insurance Council’s Insurance Awareness Committee came up with this campaign idea. The campaign will mostly be launched sometime in January. The main objective of this campaign is to make sure that life insurance policies are understood in a better manner. The committee is looking at a number of agencies to help roll out the programme. The campaign is expected to be a multimedia campaign that will cover radio, television, PR and digital platforms. A number of taglines are being discussed being discussed for the promotion. The committee has been working on this since 2010 and the committee was revived in 2017. The launch will coincide with the start of the peak sales time for life insurers. The campaign will be a long-term campaign and is not specifically meant to improve any short term targets that are already in place.

      13 December 2018

    • Life Insurance Corporation of India Surplus Rises by 10% in the Financial Year 2018

      The national insurance company, Life Insurance Corporation of India (LIC) has successfully surplus on an annual basis by 10.1% to Rs.48,444.82 crore for the financial year 2018. It has further paid Rs.2,430.19 crore to the Indian Government. Additionally, LIC has garnered a total valuation surplus of Rs.48,444.82 crore for the financial year 2018 which is approximately 10.1% higher than what it had garnered in the previous financial year. This statement has been made by the LIC officials recently.In the financial year 2017, the Corporation had ended up paying around Rs.2,206.70 crore to the Indian Government, which was in turn, 15.7% higher than what the number was for the financial year 2016. In the financial year 2017, LIC had successfully booked a surplus of around Rs.44,134 crore. In the parlance of life insurance, valuation surplus has always been akin to profit for the organisations and companies, and according to the rules and regulations of the LIC AC, it will be required to distribute 95% of the whole surplus amount to the existing policyholders and the remaining balance to the Indian Government, which is its shareholder.The chairman of Life Insurance Corporation recently gave a cheque for the surplus amount to the Indian Finance Minister, Mr. Arun Jaitley in the city of New Delhi, this Friday.

      12 December 2018

    • Top 5 Term Life Insurance Plans in India and their features

      A term plan is one of the best financial tools to secure the financial future of your family members even in your absence. However, before purchasing a plan it is important to decide the best plan for yourself from the various options available in the market. Based on their features and offered benefits Max Life Online Term Plan Plus, LIC’s Jeevan Pragati Plan, SBI Life eShield, Aegon Life iTerm Plan, and ICICI Prudential iProtect Smart are among the top 5 term insurance plans in India at present. Each of these plans has some exclusive features which make them a good choice for the buyers. Illness benefit, comprehensive coverage at an affordable premium, and fixed monthly income are some of the basic advantages that you can expect from these plans. Buying a term insurance plan is crucial for the financial independence of your family in your absence and this is why you should think wisely and invest in a plan that will offer the best protection to your family members.

      11 December 2018

    • Choosing the most suitable life insurance policy based on your needs

      Before choosing a policy that is the most suitable for you, it is important to know what you wish to achieve with your policy. This essentially means you will have to know your long term and short term goals. You will have to look at the cost involved if you have a maximum limit with the amount of premium you can pay for the coverage. One of the main things to look at is the time for which you will be needing the coverage. You can either opt for an insurance plan for a fixed period of time or a coverage that pays at the time of death of the policyholder. If you are looking for a short term insurance plan, then term insurance is the best way to go. The one flaw with this option is that the coverage offered is not valid once the term of the insurance is over. Term insurance plans however have the option to extend the term and make it a permanent plan without opting for another policy with an insurance provider. Permanent life insurance plans generally require a higher premium than the term insurance but will offer the policyholder the death benefit irrespective of when he/she dies. Permanent life insurance policies also offer other benefits like premium flexibility, tax deferred investing and cash values. There are a number of different life insurance policies available in the market. No lapse guarantee universal life, variable universal life, indexed universal life, and whole life.

      10 December 2018

    • Exposure Draft Issued as a Life Insurance Product Regulation

      The Insurance Regulatory and Development Authority of India (IRDAI) has been regulating the domain of life insurance since a long time. Whatever forms and products revolve around life insurance, they are all regulated through IRDAI. For the purpose of illustration, the IRDAI had recently issued some guidelines on Unit-linked insurance plans (ULIPs) and group life insurance policies.

      The latter in the above-mentioned undergoes modification from time to time. In the year 2013, the IRDA (Linked Insurance Products) Regulations 2013 and IRDAI (Non-Linked Products) Regulations 2013 were consecutively issued for unit-linked products and non-linked products, respectively (in that order). It essentially culminated the provisions for designs, types, and operations of linked and non-linked insurance products. A committee was recently established by the IRDAI which gave a set of recommendations and suggestions to the committee. Based on these recommendations and the feedback that they gave, the IRDAI released its exposure draft Regulations 2018 and the IRDAI (Non-Linked Products) Regulations 2018 (collectively referred to as Draft Regulations) in order to seek suggestions and comments from multiple stakeholders in India.

      The IRDAI, has essentially sought comments and recommendations on the Draft Regulations from multiple stakeholders. People are waiting to see how the Draft Regulations will be received by the life insurers of the Indian market. People are also waiting to see if the Draft Regulations will be finalised in its current form or if it will undergo any amendment or modification.

      7 December 2018

    • Different life insurance requirements for different life stages

      With age and a change in liabilities and assets, life insurance requirements also change. For example, for a single 25-year-old person, with no assets or liabilities, and parents who are not financially dependent, insurance will be required if there is an education loan or if there is a need to support siblings or parents financially. The insurance cover would have to be Rs.25 lakh, with a term plan to cover the educational loan, or 2-3 times the annual salary. The cost of cover would be Rs.2,862 annually. It would be good to buy a 40-year plan to avoid getting a fresh cover in the later years. For the 30-35 year age group, assuming married with children, insurance would be required to protect the income, to cover a vehicle loan, ensure future needs of children are met, etc. So total cover required would be Rs.1 crore with annual premium being Rs.11,476. For those in the 35 to 45 years age group, with growing children and home, vehicle, and education loans, a total cover of Rs.1.75 crore may be required with annual premium being Rs.18,969.

      5 December 2018

    • Various Life Stages Require Different Amount of Life Insurance

      Your insurance requirements rise as you get older and there are changes in your assets and liabilities. For instance, if you are in your mid-20s and you are single, you will probably have no dependents in case your parents are financially independent. You will also have no assets or liabilities. The only reasons for availing life insurance at this age would be to repay your education loan or to provide financial support to your siblings or parents. In this case, a term plan is ideal. Now let’s say that you are in your early to mid-30s. In this case, you may have a spouse and children in addition to a few liabilities. In this case, insurance will come in handy if you wish to protect your income, pay off your liabilities, and cater to the future financial needs of your children. Similarly, as you get older, you will have more liabilities and assets but your children may grow up and be financially independent. Basically, your age is crucial to determining how much life insurance you will need.

      4 December 2018

    • Things to Consider Before Buying a Life Insurance Plan

      Buying a life insurance policy is very essential there are a number of factors that need to be taken into consideration before finalising the plan that is most suitable. One of the key factors is choosing the sum insured. The sum insured should ideally be approximately 20 times the policyholder’s current annual income.

      When buying an insurance policy, it is extremely important to ensure that the details provided to the policyholder are accurate. The next factor that needs to be taken into consideration is the tenure of the scheme. Age of the policyholder is a determining factor when choosing the tenure.

      Determining the type of insurance plan should not be based on pricing alone. Very often, policies that are priced low do not necessarily provide the coverage that is required. Additionally, policyholders should always insist on having medical tests conducted prior to purchasing a policy.

      3 December 2018

    • Oil Marketing Companies Considered as Best Bets for 2019 by Aditya Birla Sun Life Insurance

      Aditya Birla Sun Life Insurance, one of India’s leading insurers, and the life insurance wing of Aditya Birla Capital, had plans to enhance its holdings in oil marketing companies due to the fact that there is a lot of pressure on crude prices. Even valuations in the oil sector are becoming increasingly attractive owing to the upcoming general elections in 2020. The Chief Investment Officer for equities at Aditya Birla Sun Life Insurance, Deven Sangoi, told reporters that he thinks that over the past 5 years, there has been a massive re-rating of oil stocks and a good correction has been made ahead of the upcoming elections. Oil prices have fallen by over 30% from October due to concerns regarding whether or not supply will be more than demand this year because of slow economic growth. American inventories are on the rise, oil prices fell to less than $60 per barrel this week. According to Sangoi, oil prices are expected to remain in the range of $50 to $60 per barrel.

      30 November 2018

    • Life Insurance and the Elderly

      Old age is a difficult phase in an individual’s life and it becomes even more difficult when one does not have adequate financial savings to sail them through the period. This is the reason why it’s of utmost importance that every elderly citizen has a comprehensive life insurance policy that will help them tide over any financial loss or lack of a steady income.

      Some of the most reasonable and affordable life insurance policies that are a must-have for senior citizens are:

      Level term life insurance - If you are a retired individual, you only need a level premium and a level death benefit. Since your days of labor are over, and all your children might have gotten married by that time, your financial expenditure is bound to go down. In such a scenario, you only need a term insurance policy as it will provide coverage against any unforeseen emergency occurrence. A lump-sum survival benefit from a whole life insurance policy will be more than sufficient for you during your retirement period.

      Convertible term life insurance - This kind of a term insurance policy can be converted into a permanent one in case the former expires any time during your lifespan. However, you will be required to do this before you turn 70 years old.

      Guaranteed universal life insurance - This type of insurance policy comes bearing multiple guarantees which varies from one insurer to another.

      29 November 2018

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    Customer Reviews

    • IDBI Federal Life Insurance
      "Very Good"
      0.5 4.5/5 "Excellent!"
      IDBI Life cover policy for my children there is more benefits in this policy i have to pay 30k every year after his age of 16 partially amount will received for his education after few years for marriage and in risk factor also amount will provide once terms will complete total Amount will be received in 3 terms for this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 13, 2018
    • LIC Life Insurance
      "Very good"
      0.5 4.5/5 "Excellent!"
      I am using Life Insurance policy and need payment in six month once i am happy with LIC insurance policy . Since long time i am using Life cover policy so i am only trust to LIC for Life insurance payment is made in cheque and sometimes in cash which one collected by agent for service i can give rating 4.5 very good service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 13, 2018
    • LIC Life Insurance
      "Good Trusted insurance company"
      0.5 3.5/5 "Pretty good"
      They have reached across all over and they have spread the different policies when I started this policy they helped on it. I normally pay the premium annual basis around Rs.1.5 lakh for the long term with tax benefits and life cover also included.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 13, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my life insurance with Life insurance corporation of India, there service is good, the agent had explain me about the policy coverage,and about plan benefits clearly,the premium amount they have charged me was nominal,and it use to get auto debited from my account.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Dec 12, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my life insurance with Life insurance corporation of India, there service is good, the agent had explain me about the policy coverage,and about plan benefits clearly, and the premium amount they have charged me on yearly basis, and they have charged me up to 7000 it is nominal , and premium amount it use to get auto debited from my account.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 12, 2018
    • LIC Life Insurance
      "LIC is trustable company"
      0.5 5.0/5 "Blown Away!"
      I have just selected Life Insurance Corporation of India for my life insurance policy because its recommended by my father. Total tenure period of the policy is 20 years. Overall, i have not faced any kind of issues with Life Insurance Corporation of India.
      Was this review helpful? 0
      , lucknow
      Reviewed on Dec 12, 2018
    • LIC Life Insurance
      "LIC is good for future"
      0.5 5.0/5 "Blown Away!"
      I have purchased the LIC policy for last 5 years. My father has recommended me about this policy. I have been paying the premium of Rs. 6000 and i have selected the yearly payment mode. I used to make the payment through online by using my debit card. Overall, I'm satisfied with LIC.
      Was this review helpful? 0
      , lucknow
      Reviewed on Dec 12, 2018
    • LIC Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Jeevan anand policy from the life insurance corporation of India . It has coverage of accidental and critical illness benefits . Am satisfied with the premium amount which am making yearly , I make the payment through online banking . I have chosen this policy based on the benefits and features . Overall am satisfied with this policy .
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 12, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance jeevan policy from Life insurance corporation of India . This policy covers with accidental coverage and critical illness coverage . This is good policy with good benefits . Overall am satisfied with customer service and response .And making the payment half yearly through on line net banking.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 12, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance policy from the life insurance corporation of India . I pay the premium amount quarterly which i make the payment through online . The policy coverage with accidental benefits and critical illness .i have chosen long term policy where the premium amount is bit expensive comparing to other policy
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 12, 2018
    • SBI Life Life Insurance
      "Average policy"
      0.5 3.0/5 "Satisfactory"
      I have got the sum assured amount of Rs. 2 lakhs. I have purchased the accidental policy with SBI. I used to pay the premium amount of Rs. 500 in a year. This is a tax benefits policy. My entire family has been covered by this accidental policy. Since my bank account with SBI hence i have chosen this company.
      Was this review helpful? 0
      , guwahati
      Reviewed on Dec 12, 2018
    • LIC Life Insurance
      "Cool policy"
      0.5 4.0/5 "Great!"
      I have purchased my LIC policy in 2008 and the policy name is Jeevan Anand. This policy having a tenure period of 25 years. I used to pay the premium of Rs. 2000 in a every half year. The sum assured amount was Rs. 2 lakhs. This is a tax benefitable policy. Its because of the trust i have selected LIC.
      Was this review helpful? 0
      , jodhpur
      Reviewed on Dec 12, 2018
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