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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
    rated 4.5/5.0 by 16940 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.

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    Life Insurance BYTES FROM OUR KITCHEN

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

    • Canara HSBC OBC Life Insurance forays into health space

      Canara HSBC Oriental Bank of Commerce Life Insurance, a private life insurance provider, recently made its way into the health insurance segment. The company launched their first health insurance plan named Health First Plan. This plan offers fixed benefit critical illness cover at affordable premiums. The insurance plan was released with an official release.

      16 November 2018

    • Avoid These Common Mistakes While Purchasing Life Insurance

      It is important not to make any mistakes when it comes to purchasing a life insurance policy since they can end up costing you heavily. See some of the common mistakes that financial planners come across:

      Buying too less or too much - According to a certified financial planner, a person doesn’t really need a life insurance policy if he or she doesn’t have any dependant. On the other hand, individuals with young children must have the same. While stay-at-home parents don't need a life insurance as much, but should have some coverage nonetheless.

      Purchasing the wrong policy - Term policies are the best option for most families owing to their finite needs. Permanent life insurance can be used as an important estate planning tool by those with a lifelong financial dependent, such as a child with special needs, or those with an estate big enough to incur the taxes for their heir.

      Depending on a free life insurance policy - Life insurance benefits that are offered by employer organisations are not enough for those who are their family’s breadwinners.

      Delaying the policy purchase - Putting off the purchase of a life insurance is extremely risky, especially for individuals with young children.

      13 November 2018

    • How to save on life insurance premium

      A life insurance policy is basically a contract between the insurance company and an individual that assures the latter financial security in the event of his/her demise. In exchange for the insurance coverage, the policyholder pays the insurer a premium.

      The premium one pays for life insurance depends on several factors, namely the chances of a claim registration, type of policy, area from where the business of the individual operates, and the locality of his/her residence. If the policyholder is deemed as riskier to cover by the insurer, he/she will have to bear a higher premium.

      Here are some ways in which one can save on life insurance premium:

      Buy insurance early in life

      Pay the premiums annually

      Go for a term insurance plan

      Select the optimum tenure for the policy

      Follow a healthy lifestyle

      Compare policies between insurers and buy insurance online

      12 November 2018

    • Max Life Insurance Welcomes New Executive Vice President

      One of the leading insurance companies/organisations operating in the whole of the Indian subcontinent, Max Life Insurance recently welcomed its newest family member, Mr. Navendu Pandey as its Executive Vice President.

      Mr. Pandey will be based out of Gurugram where Max Life’s corporate office is situated and he will report to Mr. V. Viswanand, who is the Senior Director and Chief Operating Officer for Max Life Insurance company.

      Some of the roles and responsibilities of Mr. Pandey include strengthening the Quality and Service Excellence culture in the Company by facilitating the implementation of ‘Max Quality System’. This will be done by him driving number of initiatives that will in turn enhance and better the process quality through accurate implementation of business process management, kindling and anchoring innovation, embedding knowledge management, focusing on the core growth areas, and the betterment of cost efficiency to a great extent.

      The experience of customer care domain will also be looked at with Pandey leading the effort on improving the quality of customer experience by championing ‘Voice of Customer’, an initiative across all teams. In addition to this, he will also lead a full-fledged team to provide consulting support internally in business transformation initiatives, such as operational excellence programs.

      Experience wise, Navendu has over two decades of experience across customer services, coupled with financial and banking services, and lastly Human Resource Benefits administration. Before joining the Max Life family, Navendu used to work for companies such as HSBC, Deutsche Bank, Genpact, Aon-Hewitt, Mercer, Tata Motors and Sutherland Global Services.

      9 November 2018

    • Postal Life Insurance Rules Altered to Compete in Insurance Space

      Postal Life Insurance (PLI) is similar to other life insurance service providers in the country aside from the fact that it is operated by the Indian postal department. Incepted in 1884 for the benefit of the employees in the postal department of the country, PLI only offers traditional insurance policies, and not ULIPs or term insurance. In addition to the single insurance policies, Postal Life Insurance also manages a Group Insurance scheme for the Extra Departmental Employees (Gramin Dak Sevaks) of the Department of Posts. Currently, there are 6 types of postal life insurance policies that are available:

      1. Suraksha (Whole Life Assurance) Under this scheme, the assured amount along with the accrued bonus is paid the legal representative or assignee on the event of death of the insured or to the insured individual once he or she attains 80 years of age, whichever is earlier. The minimum age to enroll for this scheme is 19 years while the maximum is 55 years. The sum assured under this plan ranges between Rs.20,000 and Rs.50 lakh. While the policy can surrendered after the completion of 3 years, loan facility is available after 4 years starting from the date of purchase of scheme.

      2. Santosh (Endowment Assurance) In this scheme, the proponent can receive the assured sum in addition to the accrued bonus till he or she attains the predetermined age of maturity. In the event of death of the insured, the nominee or legal heir will receive the complete sum assured with the accrued bonus. The minimum and maximum ages for enrolment along with the highest and lowest sum assured in this scheme is same as that of Suraksha scheme. Furthermore, loan facility shall be available after 4 years and the policy can be surrendered after 3 years.

      3. Suvidha (Convertible Whole Life Assurance) This Whole Life Assurance Policy offers policyholders the option to convert to Endowment Assurance Policy after completion of 5 years starting from the purchase of the policy. The sum assured and accrued bonus is given till the insured attains maturity age. In case of death of the policyholder, the nominee, assignee, or legal heir will receive the full sum assured along with an accrued bonus. The minimum and maximum ages for enrolment along with the highest and lowest sum assured in this scheme is same as that of Suraksha scheme. Even though the policy can surrendered after the completion of 3 years, loan facility is available after 4 years starting from the date of purchase of scheme.

      4. Sumangal (Anticipated Endowment Assurance) This is a Money Back Policy that offers a maximum sum assured of Rs.50 lakh. This scheme is best suited for those who need periodical returns since the survival benefits under policy are paid to the insured on a periodic basis. Even though these benefits will not be taken into consideration in case the insured individual dies unexpectedly, the full amount assured with the accrued bonus will be paid to the legal heir, assignee, or nominee. The available terms of policy are 15 and 20 years. The minimum and maximum ages for enrolment under this policy is 19 years and 55 years respectively.

      5. Yugal Suraksha (Joint Life Assurance) The Yugal Suraksha scheme is a Joint Life Endowment Assurance under which the spouse of the insured person will be eligible for PLI policies. This scheme also offers life coverage to both the insured and his or her spouse to the extent of sum assured along with the accrued bonus. While the highest and lowest sum assured is Rs.20,000 and Rs.50 lakh respectively, the minimum age for entry is 21 years and the maximum age is 45 years. Loan facility can be availed after the completion of 3 years.

      Bal Jeevan Bima (Children Policy) This scheme provides life insurance coverage to a maximum of 2 children between the age group of 5-20 years of the policyholder. The maximum sum assured under this scheme is Rs.3 lakh or equal to the sum assured of the parent, whichever is less. It should be noted that the age of the policyholder should not be more than 45 years. In the event of death of the policyholder, any premium will not be paid on this policy. The total sum assured in addition to the bonus accrued shall be paid on completion of the term.

      8 November 2018

    • DHFL Pramerica Life Insurance New Campaign #KalSePehle Launched

      Issuing the age-old problem of delaying the purchase of life insurance, DHFL Pramerica recently launched its awareness campaign all across the social channels. The campaign is known as #KalSePehle and it basically addresses the concerns and issues that ensue when people do not understand the importance of being insured and securing their family members in case of emergencies and contingencies.

      The value of life insurance is often misinterpreted and people do not realise it until the last moment, when they really need one. Till then the idea is just tossed around in the air and it keeps on getting deferred to another day. This practice, in turn, puts the family at huge risk since there is no coverage or protection during the time of any medical emergency and the family will be compelled to dig into its own savings to pay for the required expenses. This in turn adds to the existing financial burden.

      This thought-provoking social awareness campaign about life insurance consists of three videos connected to each other. The first video talks about Kal Se’s morning routine wherein he is dazed on the morning that he wakes up, thinks about working out but skips it instead, owing to laziness. However, by the third video the protagonist rethinks and goes on to work out before tomorrow. Through this depiction, the message that DHFL Pramerica is trying to convey becomes crystal clear as emphasis is laid on the importance of purchasing a life insurance policy before any danger befalls the family tomorrow.

      7 November 2018

    • IRDAI comes up with significant changes to life insurance policies

      The Insurance Regulatory and Development Authority of India has come up with changes in life insurance policies. This is being done for a better understanding of the product while offering benefits for the policyholders. For regular premium products, the minimum death benefit is now 7 times while it is 1.25 times for single premium products irrespective of age. The time period to acquire guaranteed surrender value has been reduced from 3 years to 2 years for non-linked policies. The revival period has now extended from two years to five years. The settlement option has now extended to 10 years from the current 5 years.

      5 November 2018

    • How you can enhance your life insurance coverage with riders

      The main motive of purchasing life insurance is to offer financial security to the dependents of the life assured in the event of his/her untimely death. The basic sum assured and bonuses will constitute the final payout, in the form of a death benefit. However, the policyholder can choose to increase the coverage under the policy by opting for riders.

      The accident benefit rider provides financial assistance to the family of the insured by providing an additional payout over and above the basic sum assured under the plan. This payout is made when the life assured passes away in an accident. Some riders also provide waiver of future premiums.

      A term rider under an endowment policy enhances the rick coverage up to 200%-300% of the basic sum assured. The extra premium paid for this rider is a small amount.

      The critical illness rider offers coverage for specific diseases and health situations. Usually a lump sum amount is offered that is equal to the basic sum assured.

      The accelerated maturity payout rider will offer a portion of the sum assured 3-5 years before the maturity date of the policy, in case the insured suffers from a terminal illness. The insurance company does not wait for the demise of the life assured to make the payment.

      2 November 2018

    • DHFL Pramerica Life Insurance launches its digital campaign #KalSePehle

      In order to promote the importance of life insurance, DHFL Pramerica Life Insurance has launched a digital campaign which has been titled as #KalSePehle. DHFL Pramerica Life Insurance is one of the fastest growing life insurance companies in India. Through this campaign, DHFL Pramerica is taking on the behaviour of postponement around Life Insurance.

      Mr. Anoop Pabby, the CEO and MD of DHFL Pramerica Life Insurance Co. Ltd. said that the main intention of the campaign is to inspire people to come forward and take timely decisions about Insurance related matters.

      31 October 2018

    • Choose the Correct Life Insurance Product for Yourself and Your Family

      While the importance of being insured through multifaceted insurance products has increased amongst the commoners in India, however, the percentage of underinsurance remains at an all-time low for the entire country, which is a grave issue and needs to be resolved at the earliest possible.

      Any insurance product is meant to protect you from any financial adversity whether it is happening to you, your spouse, children, and parents. An insurance cover is also supposed to fulfill your long-term goals, objectives, and dreams, irrespective of whether you are there or not. The most primary perspective you should have of life insurance is that of an efficient goal planner since the other things will cease to be useful if the policyholder/life assured himself isn’t there. Life insurance as a chapter should not be mixed with the idea of an investment. Both the components must be kept separate because the primary objective of a life insurance policy is to protect all your loved ones, help you lead a risk-adjusted life, and not let you bother too much about the future.

      Protection against the three Ds is of utmost importance. These are Death, Disease and Disability. If you want pure insurance, the best way to go about it is by investing in a term insurance policy. Since term plans offer the element of insurance only, you do not get a maturity benefit at the end of the policy. However, if the policyholder passes away during the policy term, a death benefit is provided to the nominee of the policy by the insurance company.

      30 October 2018

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    Customer Reviews

    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken one life insurance policy with LIC. I am using this service for long time. My relative is agent of lic so he explain me all procedure and i have applied for life insurance from him only and i use to give premium in quarterly bases , i use to pay through on line around 3190 as premium amount they use to charge me.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      My experience with the MAX LIFE INSURANCE is very good and i am using it from past ten years the maturity period is for 15 years where the premium i pay on monthly basis through the offline. This gives the coverage is for self and i am satisfied with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have take my life insurance policy from Life insurance corporation of India. The policy cover with all benefits like illness coverage, i use to pay my premium through credit card or debit card, i am happy with the benefit they have provide me i use to pay premium in every 4 quarterly month , i have been holding various different pocily in LIC.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my Term insurance with Max life insurance, there service they are given me is good, i use to pay premium on yearly bases, and they have charged me up to 21,000 which was nominal for me and the agent had clearly explain about the policy coverage in this insurance, i use to pay premium through off line mode.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have purchased the life insurance policy with the LIFE INSURANCE CORPORATION OF INDIA where the name of the policy is JEEVAN LAKHSYA and JEEVAN SARAL and i am holding it from past 10 years. The maturity period is for 20 years. The premium i pay on a monthly once where the Coverage is for family.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • HDFC Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using the HDFC Life Insurance policy for a while. they charge nominal premium for this policy it also offers accidental benefits and I make payment at the branches. so in terms of features and their service it has been a good experience with them. HDFC Life is a recommendable insurance provider.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Good pension plan"
      0.5 4.0/5 "Great!"
      6 months before, i have purchased the pension plan. I pay the premium of Rs. 6000 per annum. Depends on the age eligibility criteria they have given the plan. I pay the premium through the agent for the first time and after that i pay through the online portal. I chosen LIC because of my mother has taken LIC policy. They have given good returns.
      Was this review helpful? 0
      , vellore
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Okay to have a policy with LIC"
      0.5 4.0/5 "Great!"
      For my family, i have taken the life insurance policy with LIC. Because of the available agents, i never interacted with customer care. The agent is providing very good information about the policy details. I have choosen the coverage value of Rs. 2 lakhs. 2 months back i have got this policy which is pension plan with a tenure period of 25 years. I have to pay the premium for 15 years. I have chosen the annual payment mode with the premium of Rs. 11000.
      Was this review helpful? 0
      , vellore
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I am holding my life insurance with Life insurance corporation of India, their service is too good, actually my father had applied the life insurance on my behalf the agent had explain him about the policy and the premium amount my father use to manage so it is nominal and my father use to pay premium through agent itself.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Future investment"
      0.5 4.0/5 "Great!"
      I have taken a life insurance policy through an agent many years back. It is a long term policy for 20 years. The policy coverage and the plan benefits are satisfactory. I am paying yearly 8,000 rupees through cheque. The payment mode is convenient. After maturity, I will be getting good return.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have purchased the JEEVAN ANAND policy from the LIFE INSURANCE CORPORATION OF INDIA where i am holding it from past ten years the tenuity period is for 12 years. The policy is for self and the premium i pay through credit card for 3 months once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have taken the life insurance policy with the LIFE INSURANCE CORPORATION OF INDIA where i am using it from past ten years. The name of the policy is JEEVAN SARAL policy the maturity period is for 15 years and the premium i pay for 6 months once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2018
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