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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
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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

    • What is the right amount of life insurance one needs?

      Life insurance is a great financial planning tool that helps in allocating a part of your income for the future well-being of your family. But how much insurance does a person really need? The answer depends on several factors, such as:

      Loans and other such liabilities - If you have too many loans it is best to opt for greater insurance coverage.

      Educational expenses - If you are planning for your child’s future education, you should enhance your death benefit amount to serve as a safety net for the future.

      Income replacement - When selecting a life insurance policy, post-death expenses should be considered to account for liabilities that may arise from the death of the first spouse.

      Wealth transfer - Although life insurance is primarily used for paying off liabilities, creating a source of supplemental income, and supporting children’s education, it can also be used to transfer wealth to your legal heirs. If you have accumulated wealth that you would like to leave behind after your death, you may choose to buy a life insurance policy that would do the same on a tax-free basis.

      18 October 2018

    • India Post invites proposal for consultancy on setting up insurance arm

      As per official sources, India Post has invited bids for the appointment of consultant for consultancy on setting up a separate insurance services arm. A pre-bid meeting was held on 18 September 2018. The official source added that the players present for the meeting comprised of big names such as Boston Consulting Group, KPMG, Ernst and Young, PricewaterhouseCoopers, Deloitte India, and so on. Manoj Sinha, the communications minister recently said that the DoP has planned to set up an insurance firm as a special business unit within the next 2 years. Presently, the postal department is offering one of the oldest life insurance schemes. This offers a lot of benefits to the government and semi-government employees. The scheme, known as Postal Life Insurance (PLI), was introduced in 1884.

      17 October 2018

    • Reasons why a single mom should buy a life insurance policy early

      Since single moms have added responsibility on their shoulders, it is very important for them to have a life insurance policy in place. In instances of an unfortunate incident, the kid wouldn't get affected as the life insurance plan will safeguard their future. Life insurance policies such as term plans will be extremely beneficial in such a situation as the dependants can lead a secured life even in the absence of their mother. A term-insurance plan is the cheapest life insurance policy in which the buyer has to pay the premium for a long duration. However, the buyer can even opt to pay a one-time payment while buying the policy. The best thing is it gives maximum coverage to the policyholder at a lesser premium. If the buyer starts paying the premium early, the policy will be offered at a lesser rate of premium. Contrarily, if the buyer purchases the policy at a later stage of her life, she will have to pay a higher premium for the same plan. Moreover, in future, if the earnings of the policyholder increase she can either more covers such as health covers and child plans in the same insurance policy or can consider investing in another life insurance plan. So, it is wise for single mothers to start early in order to get the best benefits from their life insurance policy.

      16 October 2018

    • Permanent Life Insurance Vs Term Insurance Policies

      Permanent as well as term insurance plans have gained immense popularity over the last few years. This popularity can be attributed to factors like growing awareness among people about the importance of insurance, increasing value of insurance policies in terms of returns and profits.

      However, while discussing both the terms, people often tend to get confused. The confusion is often about the features of both the concepts. More often than not, people talk about the qualitative factors of life and term insurance policies, thereby completely disregarding the quantitative factors. However, the truth of the matter is that people these days have begun looking at life insurance policies as saving tools and nothing more. This, however, should not be the sole reason for purchasing a life insurance policy. There are various other benefits and features that life and term insurance plans offer.

      Premiums paid towards a whole or permanent life insurance policy can fundamentally be divided into three parts: the total cost of the insurance, the component of cash value, and cost of operations or administrative costs. Term plans also have a certain portion dedicated towards operational costs, however, they are relatively lower in price as compared to permanent life insurance policies. The disparity that exists between the two concepts is essentially because term plans are comparatively more simple to understand, are cost-effective, and are a pure version of a life insurance policy as they provide coverage for death only. This element is known as death benefit pay out.

      Whether you want to buy a ULIP, an endowment plan, a money back plan, or a health plan is wholly dependent on your needs and requirements of your family members. However, in order to gauge your financial needs and secure the future of your family members, consider the following tips before purchasing an insurance policy:

      Cost of the policy must be taken into consideration. Ask yourself the question ‘Do I really need this big a cover or will a small one suffice?’ If you have dependents relying on your support, but you do not want to spend a huge chunk of your income on premiums, then a term plan will suffice.

      The quantum of benefits must be measured before an insurance policy is bought.

      15 October 2018

    • Most economical life insurance policies for your age group

      Life insurance provides financial protection to your family in the event of your death in an unexpected manner. The most economical life insurance plan you can buy is term life insurance. You will only have to pay for the insurance coverage. When the policy term ends, you will not receive any maturity benefit. In case of your demise during the policy tenure, a huge amount of money is paid to your nominee.

      Here we have listed the premium rates for some term insurance plans with high claim settlement ratio. These plans provide sum assured of Rs.1 crore across various age categories.

      LIC eTerm Plan

      When the policyholder’s age is 30 years, premium is Rs.17,145.

      When the policyholder’s age is 35 years, premium is Rs.21,122.

      When the policyholder’s age is 40 years, premium is Rs.26,550.

      Max Life Insurance Online Term Plan Plus

      When the policyholder’s age is 30 years, premium is Rs.8,378.

      When the policyholder’s age is 35 years, premium is Rs.10,384.

      When the policyholder’s age is 40 years, premium is Rs.13,334.

      Aegon Life Insurance iterm Plan

      When the policyholder’s age is 30 years, premium is Rs.7,497.

      When the policyholder’s age is 35 years, premium is Rs.9,512.

      When the policyholder’s age is 40 years, premium is Rs.12,717.

      10 October 2018

    • Life insurance to cover two lives

      Joint term life insurance policies offer you insurance coverage for two lives under one policy. The policies are easy to purchase and offer insurance protection for a stay-at-home spouse. One of the main disadvantages of such a plan is the cap on sum assured for the secondary life. This could be insufficient for some families.

      The sum assured for the insurance of the secondary life is usually 50% of the sum assured for the primary life. Some insurers also allow the premiums to be waived off for the secondary life insurance in case of death of the primary insured.

      Several leading insurance companies in India offer joint life insurance coverage. This includes Bajaj Allianz Life, PNB Metlife, Edelweiss Tokio Life, Aditya Birla Sun Life, and Aegon Life.

      11 October 2018

    • When is the Right Time to Purchase Life Insurance?

      Most insurance agents will tell you that there is no such thing as the right time to purchase health insurance. Industry experts believe that life insurance must be purchased whenever a person becomes a subject of insurable interest, which can happen at different times for different people. For some people, the best time to purchase life insurance could be when they start earning and supporting their parents. For some others, marriage could be the perfect time as they will have to provide for their spouse. The birth of your child could also be a great time to invest in a life insurance policy. Another milestone which makes for a good time to invest in life insurance is when you attain 30 years of age. You could also purchase life insurance when you have assets such as a car or a house property. Insuring yourself will be of great benefit to your dependents who will not be adversely affected in the financial sense in case of your untimely demise.

      10 October 2018

    • Study Reveals Millennials Preference towards Life Insurance

      A large part of the millennial population prefer life insurance as the most investment-worthy financial instrument in order to meet their financial targets, according to a survey. The Survey was conducted by IndiaFirst Life Insurance and Assocham in order to examine investment and savings patterns of around 1,000 individuals aged between 18 and 35 years in different parts of Maharashtra. Household savings and simplification of insurance, as the survey was called, showed that some of the features that make life insurance so popular among millennials include high cover at relatively low premiums, easy purchase process along with speedy customer services as well as simple documentation. Around 70% of the millennial population chooses life insurance as the go-to investment instrument, while mutual funds are the next best thing at 69%, followed by recurring and fixed deposits at 64%.

      9 October 2018

    • Leadership change in Max Life from January 2019

      A leadership change in Max Life has been announced, effective from 1 January 2019. The current Chief Financial Officer and Senior Director, Prashant Tripathy, will take over the reins from the current Managing Director and Executive Vice-Chairman, Rajesh Sud. The new Managing Director will be V. Viswanand, who is currently the Chief Operations Officer and Senior Director. Rajesh Sud will remain in his role in Max Life until 31 December 2018. He will continue in Max Skill First and Max Bupa as non-executive Chairman until 31 March 2019. This is the second 5-year term for Rajesh Sud as Max Life’s Executive Vice Chairman and MD, completing 18 years in the company. The President of Max Group, Rahul Khosla, stated that Rajesh Sud had been responsible for the digital transformation that led to market leadership for the company. He had also set outstanding benchmarks in productivity, relationships, and claims delivery.

      05 October 2018

    • What to do if you’re surrendering your life insurance policy

      Although renewing your life insurance policy is always advised, if you have already decided to surrender it, there are a number of ways you can ensure that your money does not go to waste. Investing the premium amount in equity funds will deliver good returns. For example, for four endowment plans each having Rs.3 lakh coverage, with Rs.60,000 being the annual premium combined, surrendering after paying the premium for 2 years will give you a premium loss of Rs.1.2 lakh. The earning despite premium loss in 18 years would be Rs.34.04 lakh. Investing that amount in an equity fund for 18 years at 12% would give you Rs.35.25 lakh. If the policy were carried to full term, at 6%, the earning would be Rs.20.29 lakh. The surrender value can be availed if premium has been paid for 2 years for a term duration of less than 10 years and 3 years for a term duration of 10 years and more..

      4 October 2018

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    Customer Reviews

    • ICICI Prudential Life Insurance
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have been holding my life insurance with ICICI prudential insurance, i have been applied this insurance recently, they cover good and i pay my premium from debit card and premium per year they charge me is 1500 rupees, there service is good and they use to update me if any new policy is add.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2018
    • LIC Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am holding the policy called JEEVAN SARAL plan with LIC. I am using from last 10 years and the policy coverage is for self. The premium i pay for yearly once through online and also the maturity period is for 25 years for this policy. I am satisfied with this policy.
      Was this review helpful? 2
      , kolkata
      Reviewed on Oct 15, 2018
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have purchased the policy of my life insurance with LIFE INSURANCE CORPORATION OF INDIA for long years because of brand value.i have been paying my premium per year for 1900 rupees i have paid first my premium through agent after that i directly pay through on line only.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 15, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance policy from Hdfc Life based on the benefits and income tax benefits i have chosen this policy . I make the payment quarterly directly in to their office . Their customer service is good as they respond that much.This policy covers the tenure period of 20 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 15, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken jeevan anand policy from life insurance corporation of India . I pay half yearly the premium amount with tenure period of 10 years . This policy covers benefits like accidental benefits and critical illness benefits too. Overall am satisfied with my policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 15, 2018
    • ICICI Prudential Life Insurance
      "Average service"
      0.5 3.5/5 "Pretty good"
      I have been holding Term insurance with ICICI prudential insurance , i have been applied this insurance recently, i don't have much idea as about the benefits which they provide me and i pay premium per years 650 for 50 lakh policy and it automatically get debited from my account.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 15, 2018
    • LIC Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have purchased the life insurance policy with LIFE INSURANCE CORPORATION OF INDIA the reason is that because it is a tradition company. The premium for this policy i pay for yearly once 12k and it gives the policy coverage of 1lakhs also it gives the life coverage too.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 15, 2018
    • LIC Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken because of the tradition company. The name of the policy is JEEVAN ANAND and i am using from last 3 years. The premium i pay for annual fee is 19k. The coverage is for my complete family. It also includes the accidental benefits with the life coverage.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 15, 2018
    • LIC Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have purchased the policy of life insurance with LIFE INSURANCE CORPORATION OF INDIA before 3 years because of the brand value. I am holding the money back policy where the premium i am paying for monthly one as 15k. This gives the coverage for me and my spouse.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 12, 2018
    • Max Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having a Max Life insurance policy from the last 11 years, it is a pension policy where i get good benefits and returns. Maturity period for this policy is 11 years but it can go up to 20 years. I pay my premium every month through ECS and i am convenient with the payment options.
      Was this review helpful? 1
      , kochi
      Reviewed on Oct 11, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 15 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months through direct payment. The maturity period for this policy is for 25 years.
      Was this review helpful? 1
      , kochi
      Reviewed on Oct 11, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 15 years and it is a money back policy. I get money back after every 5 years. I pay my premium once in 6 months through direct payment and i am convenient with the payment options. The tenure period for this policy is 20 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 11, 2018
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