"Spending a whole day looking for insurance is fun," said nobody, EVER!
  • 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 16749 users
    Insurance provider
    Grievances Solved
    Claim Settlement Ratio*
    Maximum Cover (Sum Assured)
    New Business Premium
    Maximum Maturity Age
    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.

    Landing Previous Arrow

    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.

    Landing Previous Arrow

    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?
    Landing Previous Arrow
    Life Insurance is Rated as " Excellent!" by 16749 Users
     4.5 / 5.0   by 16749 users
    Used this product? Write a review >>

    Fees & Charges

    Promised Interest Rate

    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Life Insurance BYTES FROM OUR KITCHEN

    Articles About Life Insurance

    • Top 10 Factors Affecting Life Insurance Premium Costs

      Life insurance is a smart way to not only provide protection to your loved ones but also as a means of investment. For a low premium, you can get a modest amount of coverage and also a chance to invest and get returns in the future. However, when it comes to life insurance premiums, it is important to know, that premiums for life insurance policies vary for different individuals depending on a number of factors.

      If applicant A is being charged an X amount of premium, it is not necessary that applicant Y will also be charged the same premium. While some of these factors are in your hands to control, some are not. If you are looking to take a life insurance policy, it would be greatly helpful to know what can and what cannot affect your premium. Read on to find out some of the most crucial factors affecting your life insurance premiums.

    • How To Claim Your Life Insurance Policy

      The most important aspect of any insurance policy is claim settlement. After all, the objective of taking an insurance policy is to ensure that your dependents remain financially secure in case you are not around to provide for them. When it comes to insurance, an insurer’s claim settlement ratio is one of the most important indicator of the insurer’s intention regarding claims. Customers will undoubtedly prefer an insurer who has a proven record of processing claim settlements in the shortest amount of time. However, many policyholders remain in the dark about the claim settlement process of an insurer until the time when they actually have to file for a claim. This can often cause hassles and stress as without much knowledge about the process, it can take longer than needed to register a claim and get it approved as well. Did you know that there are multiple steps involved in filing a claim, or there are different documents that are required for death related claims and maturity related claims? Read on to know all about the claim filing process under life insurance.

    • Key Things To Know About Life Insurance

      The concept of life insurance is not a new one. People have been making use of life insurance for over 4 centuries to protect not only themselves but also their loved ones from the possibility for an unfortunate event. Though life insurance seems to have been around for a fairly long time now, there are many people who are not quite aware of all the aspects involved in a life insurance policy. When it comes to purchasing life insurance, there are many people who take the assistance of life insurance agents for purchasing a policy, while several others who prefer doing their own research and purchasing a policy directly themselves.

      For someone who isn’t quite familiar with the workings of it, life insurance can be confusing to understand. Who are the parties involved in a life insurance policy? What is the eligibility age acceptable to apply for an insurance policy? How many types of life insurance policies are there? What factors affect the premiums of a life insurance policy? When is it best to purchase a life insurance policy? Is it wise to get life insurance as a tax saving instrument? These are just some of the many questions which will find answers to in this article.

    • Best SBI Life Insurance Plans in India

      SBI Life Insurance is one of the pioneers in India’s life insurance segment. The insurer offers a variety of life insurance plans, some of which cater to individual (ULIPs, protection plans, retirement plans, child plans) and some to corporate group needs (group micro insurance plans, group loan protection plans). Offering the ease of online purchase, SBI Life insurance plans offer a range of other benefits like online payment of premiums, hassle-free claim process, high claim settlement ratio, and minimal paperwork required for application. Some of the popular life insurance plans offered by SBI Life insurance include SBI Life eShield, SBI Life – Smart Money Planner, SBI Life – Smart Humsafar, SBI Life – Smart Power, SBI Life – CSC Saral Sanchay, and more. If you are looking to purchase an SBI life insurance policy, read on to find out about the best policies which SBI has to offer, right here.

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

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

    • Sachin Tendulkar Brand Ambassador for IDBI Federal Life Insurance

      Sachin Tendulkar will be the face of IDBI Federal Life Insurance. This was announced by Vighnesh Shahane, CEO. He stated that the cricketer’s vision of a healthy India was aligned with the company’s mission to inspire the people of the country to adopt a healthy lifestyle for a brighter future.

      Sachin Tendulkar has been the brand ambassador for IDBI Federal Marathon. He stated that this new partnership would be more than just promoting physical fitness but financial fitness too. The company offers a wide range of financial products to corporates and individuals. These range from retirement solutions to protection and wealth management. Its net profit for FY18 was Rs.101 crore. As part of its commitment to nurturing sports in the country, the ‘Young Champs Initiative’ was launched to identify badminton talent across India.

      25 September 2018

    • 3 Important Essentials of Life Insurance

      September is officially regarded as ‘Life Insurance Awareness Month’ and is, therefore, a good time to re-evaluate your insurance needs and requirements.

      No matter at what stage of life you are currently at, owning a comprehensive life cover will go a long way in protecting and securing your family, in case of your absence. Several employers provide group insurance policies and coverage to their employees, however, these will not suffice on a long-term basis and the returns are marginal.

      Taking important steps to secure your family’s future while at the same time taking risks in life are a few of the many things that can be achieved through a life insurance policy. Whatever the money provided by the insurer is put to use for, life insurance guarantees peace of mind and safeguards your family’s interests during difficult times.

      Mentioned below are 3 essentials of life insurance that must be kept in mind:

      Start Early: A smart approach would be to invest in a life insurance policy as early in life as possible and rethink your life decisions at a later stage (whether you want to continue with the same policy or not). This is because premiums are generally cheaper when policies are purchased at a young age. Therefore, a 20-something will pay relatively less premiums in comparison with a 40-something.

      Purchase Individual Cover: The life insurance coverage offered in a group policy will most certainly not suffice in the long run. Purchasing an individual cover with customised benefits will help ensure that your family is well protected and can conveniently tide through difficult times.

      Safeguard Loved Ones: A family tends to be at its most vulnerable state when it loses a sole breadwinner or a primary wage earner. Hence, death benefit of a life insurance policy will effectively reduce the financial damage caused by the death of the insured, and help pay off debts, if any.

      24 September 2018

    • Importance of Life Insurance for Business Owners

      Owning a life insurance policy is crucial not only for a salaried employee, but for self-employed professionals as well. And more often than not, it’s the latter that ends up entailing the benefits of a life cover more than the former.

      No matter if your business is big or small, owning a comprehensive life cover must be at the top of your priority list. Mentioned below are a few conditions wherein purchasing a life insurance for your business will certainly come in handy:

      Death of a key employee: Most insurance companies offer a certain policy known as key-person insurance wherein upon the death of that individual, a death benefit is provided. If you have the most important assets of your business insured, the lump sum provided by the insurer will essentially help you tide over a rough period of time or even bolster your business economically.

      Equalisation of estate: You may have children who are involved in your business and those who aren’t. In such a scenario, determining who to leave the business shares might be a bit of a problem. Since one child is involved and the second isn’t, they will have different objectives and purposes in life. Therefore, it makes more sense to purchase an insurance as it will provide a lump sum benefit to your child who is not involved in the business while the shares of your business can be left to the one who is actively involved in the business operations.

      Covering taxes on death: Whatever taxes you have due, a life insurance policy will essnetially help your executor pay off your final tax bill.

      Providing for your Beneficiary: If you are shareholder in your company, it only makes sense to purchase a life insurance policy as it will offer security and protection to the surviving inheritors of the company. The lump sum provided by the insurer can also help boost your business financially.

      21 September 2018

    • Importance of Life Insurance for Millennials

      The total number of youngsters living in the country is going to increase to 45 crore by the year 2020. As a result, the patterns involving their economic status will also undergo a tremendous alteration. Most millennials in India do not believe in securing their future, rather they spend on accomplishing their immediate needs of travel, purchasing gadgets, investing in cutting-edge technology, and so on.

      To understand the importance of life insurance in the lives of millennials, one needs to pay close attention to their behaviors, to carefully analyse their spending behavioral aspects. Life insurance is of utmost importance, whether it is for a millennial or for an elderly, however, the sooner you invest in a life insurance policy, better will be the returns.

      In most cases, the importance of life insurance is realised only when there is a sudden occurrence of death or disability in a family. To avoid situations like this and to tide over the then financial losses, a life insurance policy comes in handy as it provides a lump sum amount to the family of the insured in the event of his death.

      For a generation that believes in doing things in ‘one go’, having a comprehensive life insurance policy is always the safest bet.

      20 September 2018

    • The Essence of Life Insurance

      The month of September is universally celebrated as Life Insurance Awareness Month. While many of us are aware of the importance of being insured through life insurance investment (thanks to the digital media), not many of us are familiar with the ways in which life insurance can fulfill our needs and requirements.

      Life insurance policies can play a giant role in assisting your family achieve some major financial goals in case of your absence. Moreover, if you are the sole breadwinner of your family, investing in a comprehensive life cover becomes all the more important. The kind of goals that a life insurance policy can help you achieve are:

      Assisting your family in maintaining the same standard of living in case of your demise or disability - If you have dependent parents, a spouse, and children to provide for, you must purchase a life insurance policy to secure their future. If the inflow of a steady income were to stop in the future, the life cover will help them sail through the financial losses.

      Assisting your children in their future plans, like education - Even if you are not planning to pay for your child’s education with your income, investing in a life insurance policy will ensure that a large portion of that burden is lessened as it will help your children get some vocational training or education in case of your absence.

      Assists your family in debt payment - If you have a car or a home loan that you are yet to the pay debt for, a life insurance policy can be made use of to achieve the same, in case of your demise.

      19 September 2018

    • Reasons for the rejection of your life insurance claim

      In case you are considering the purchase of a life insurance policy, you should be aware of the fact that majority of the errors creep in when you fill up the proposal form. The probability of your life insurance claim getting rejected is greater if you have furnished incomplete or incorrect information to the insurance company. The life insurance policy will be issued based on the details in the proposal form. Hence, the information provided in the form will be part of the terms and conditions.

      It is highly recommended to do a thorough check of the proposal form after it is completely filled up. Some of the common reasons for the rejection of a life insurance claim include:

      Concealing medical issues or pre-existing diseases

      Delay in claim intimation

      Policy lapse

      18 September 2018

    • Optimum Usage of Life Insurance Policy

      Most of the times, most Indians purchase a life insurance policy in order to have a steady investment option in life, however, this is not the right approach to take. According to a report released recently, one-fourth of the deposits that people make towards paying their due premiums towards life insurance policies go to waste. The premiums that are paid towards investment policies are the ones that are wasted on a regular basis, thus incurring huge amounts of losses for the country and the Government.

      This frequently occurring phenomenon is known as the persistency ratio in the sector of life insurance, which essentially takes into account the proportion of policyholders who continue to fund their insurance product over and beyond the initial few years. In the field of life insurance, at least 25% of the total policyholders have been reported to have dropped out of their policies because of dissatisfaction with the existing terms and conditions.

      If you surrender your life insurance policy within the first year itself, you run a huge risk of loss since the surrender value is not provided in such a short span of time, moreover, your insurer gets to keep all the peripheral costs including commissions, upfront in the first year itself.

      17 September 2018

    • Canara HSBC Oriental Bank of Commerce Life Insurance to Wipe Out Losses

      The accumulated loss of Canara HSBC Bank is evidently wiping out all of its losses. The total loss incurred till date is Rs.160 crore which the insurance company is planning to get rid off and earn profits to clear off whatever loss the company had incurred in the past.

      “We are in a very strong growth trajectory,” said Mathur. He also added that the insurance company is planning to integrate its trajectory of growth of the preceding years in its business operations for the current year. The company has at a compounded annual growth rate (CAGR) of over 35% in the past three years in individual business. The insurance company’s total business recordings stood at Rs.2,781 crore for financial year 2017-18, while the new profits stood at Rs.818 crore.

      Mathur was further reported to have said that the company has a solvency ratio of 370% which evidently makes it reliable to deal with. He also emphasised on the importance of funding through internal accruals for its expansion plans, while also stating that capital infusion is not a requirement anymore. The last time the insurance company received capital infusion was six years ago. The CSR or claim settlement ratio of the insurer is 98% and the persistency ratio is more than 80%, according to the company’s Managing Director.

      14 September 2018

    • How to Locate a Lost Life Insurance Policy

      Life insurance for Indians is more like an investment product wherein the investor receives a lump sum amount of money after the term of the policy. However, this approach is not reasonable as the purpose of life insurance is defeated entirely if you start looking at it like from an investment perspective and not from an insurance perspective.

      Life insurance, undoubtedly is one of the most reliable products to invest in however if you do not intimate your family members or spouse about the said investment, it might go to complete waste.

      If you have had a relative in the family who owned a life insurance policy but missed out on letting anybody know about the same, then you may have set yourself up for a daunting task of finding the lost policy. As of now, India does not have a national database of all life insurance policies, purchased or expired. Hence, the process of tracking a lost policy becomes increasingly hassled and tedious as you do not know where to start from.

      However, a little sleuthing can go a long way. By looking in the right corners and contacting the right people and executives, you may be able to trace your steps to the policy that has now become past. Given below are a few steps that can be followed while looking for a lost life insurance policy:

      Search for documents that are insurance-related: Check and recheck in all the possible places that the policy document might be in. This includes files, folders, safety deposit boxes, store houses, and so on.

      Get in touch with the deceased family member’s financial advisors: Any attorneys from the present or past, investment advisors, accountants, business insurance brokers, agents, bankers, may be contacted in order to obtain information about the lost life insurance policy.

      Look at any other policy that the deceased may have owned: At the time of purchase of the policy, the application of other policies are attached to the purchased policy’s document. Therefore, if you are able to trace any other policy that your family member used to own, tracking the lost policy may become easy.

      12 September 2018

    • LIC Predicts a 75 Billion First Premium Income from the Eastern Region

      What has come as a huge news for the insurance sector, India’s state-owned insurance company Life Insurance Corporation of India has recently announced their target of gaining an income worth Rs.75 billion from payment of premiums only. During the 2018-19 financial quarter, premiums paid by the eastern region will supposedly come down to Rs.75 billion, which is a commendable achievement on LIC’s front.

      According to the Regional Manager of Life Insurance Corporation of India (LIC), the aim to grow has been placed at 20%, i.e., LIC’s premium will evidently witness a 20% growth. During the quarter of April-August, the first premium income of the eastern region was recorded to be Rs.21.65 billion which is flat as compared to the number that was recorded in the previous year.

      Till the period of 31 August, 2018, the group premium income that was collected from the eastern region stood at Rs.20.5 billion. It has also been announced that the eastern region ranks at the top in terms of purchasing the maximum number of policies and in case of first premium income.

      11 September 2018

    Get More News on Life Insurance

    Customer Reviews

    • LIC Life Insurance
      "Experience is good"
      0.5 4.0/5 "Great!"
      I also have a money back policy with LIC. In this policy I would get a bonus every few years and I would also get my benefit after the maturity term. The premium is paid on a half yearly basis. The payment options are very convenient and I can pay it online.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2018
    • LIC Life Insurance
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have a Jeevan Anand life insurance policy with LIC. The tenure is for 15 years. The premium is paid on a yearly basis. After the maturity term I would get the benefits. The policy will still continue life long for the customer and that is the main benefit. The premium amount is normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2018
    • LIC Life Insurance
      "Good. Can do better"
      0.5 3.0/5 "Satisfactory"
      I also have a life insurance with LIC. The tenure is for twelve years. I have taken a money back policy and every three years I would get my bonus which is a feature in this policy. The premium is normal too. Though there are things which can be done online. I still need to visit the office.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 20, 2018
    • HDFC Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance from HDFC Life. I could purchase the insurance online. The tenure is for ten years and there are good plan benefits and sum assured. I would get my maturity amount after the 10th year. The premium is nominal and I can pay it online.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 20, 2018
    • LIC Life Insurance
      "Satisfactory"
      0.5 4.5/5 "Excellent!"
      I have taken another policy with LIC. It is a Jeevan Saral policy. The premium is normal. The sum assured and the policy benefits are good. I would get the benefits of this policy after the retirement. It has been a very good experience till date.
      Was this review helpful? 2
      , vadodara
      Reviewed on Sep 18, 2018
    • LIC Life Insurance
      "Good in benefits"
      0.5 4.5/5 "Excellent!"
      I have also taken a endowment policy from LIC. The policy benefits are good. The sum assured is also good. The benefits was also provided to me immediately. It has been a good experience and it is secure to get the policies from this company. Good overall.
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 18, 2018
    • LIC Life Insurance
      "Beneficial policy"
      0.5 4.5/5 "Excellent!"
      My father has taken a life insurance from LIC for me. It is a money back policy and the benefits are good and the sum assured is good. I got the benefits by default without having to go behind LIC.
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 18, 2018
    • SBI Life Life Insurance
      "LIFE INSURANCE SHOULD BE TAKEN BY EVERYONE FROM SBI LIFE IN "
      0.5 4.0/5 "Great!"
      I have taken life insurance from Sbi Life insurance of money back gold policy . This policy covered with accidental coverage . This is a good policy with good returns . I have chosen for 12 years period with better policy coverage. I recommended every one to have one policy of SBI LIFE.
      Was this review helpful? 0
      , champawat
      Reviewed on Sep 18, 2018
    • Bajaj Allianz Life Life Insurance
      "Not paying back maturity amount"
      0.5 0.5/5 "Unacceptable"
      My policy (0002439625) has matured on July 2018, now three months over Bajaj Allianz has not paid my maturity amount back. Each time I contact them getting silly reason to avoid to pay back my maturity amount. The first reason was they despatch a cheque aready. After one moth they changed ask me my bank account details, I have submitted 5 times but the same is not updated their system. Now they are telling the clarity of the document is not clear. Any of the above cases Bajaj Allianz has not contacted me to inform this. Each time I have called them and ask about my maturity amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 17, 2018
    • ICICI Prudential Life Insurance
      "Worst Policy Provider. Dont Trust them"
      0.5 0.5/5 "Unacceptable"
      one of the unethical and non trusted brand. don't go with icici policy there are lots of hidden clause which these guys hide from you. please avoid going for icici pru policy. I have avail policy in month of January they have hide lots of bad things about policy.
      Was this review helpful? 3
      , pune
      Reviewed on Sep 17, 2018
    • Future Generali Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Future Genrali. I am paying a premium of 12000 per year. Their hasn't been any issues with the policy. The policy is a normal life insurance with out any commendable benefits. They need to improve their customer support services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 15, 2018
    • Kotak Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Kotak, I am paying a premium of 11000 , they need to work on their promises while purchasing the policy. I am just paying the premium with out any benefits or a proper support. When it comes to serving customers they're all hesitant.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 15, 2018
    Common Loader Icon

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.