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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 17481 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

    • Digital Transformation Expected to Alter Life Insurance Sector

      The revolution and digitization of the insurance sector has brought in multiple opportunities for people to accomplish tasks online. Furthermore, it has also changed the way customers purchase products, engage, or even interact with customers. Of all the insurance sectors, life insurance has efficiently and very effectively adapted this dynamic and the evolving digital revolution.Digital technologies such as Artificial Intelligence, Big Data Analytics, or ML have been widely observed to have facilitated a wide array of new applications through means of collecting, analyzing, and operationalizing data in order to improve the efficiency of business operations, optimize processes, reduce the instances of human failures, customer retention, and overall market growth. The Life Insurance sector will expectedly move forward with this digital revolution by digitally facilitating their sales force and interaction with customers on a real-time basis through Omni channel environments and offering its customers remote, RPA driven suggestions and advice for 24 hours and 7 days on multiple digital platforms.

      23 January 2019

    • ICICI Prudential Life Insurance and HDFC Life going to post their quarterly results on Tuesday

      Just before ICICI Prudential Life Insurance and HDFC Life Insurance are going to report their quarterly result on Tuesday the industry is having certain key expectations. While HDFC LI is expected to deliver a strong result with a continuation of the uptrend in the market share, ICICI Prudential on the contrary is expected to post a weak report with a decline in the market share in individual policies. Moreover, where the value of new business margin of HDFC LI is expected to be at 24% for the 9 months period (close to 200 basis points (bps) on a YoY basis), the first-year premium of ICICI Prudential LI is expected to grow at 10.2 percent with a decline in the growth YoY of the individual segment both in single and the non-single premium.

      22 January 2019

    • Indians Still Lack Sufficient Insurance Coverage

      When it comes to the importance of being covered via an insurance policy, Indians are seriously lagging behind. Out of the whole population of the country, more than 75% remain to be uninsured and the rest remain to be inadequately covered. This in turn leads to extreme financial strain in case of the death of the breadwinner of any other family member. Unexpected emergencies like the death of a family member usually drain the finances of a family. On top of that, lack of an adequate cover further elevates the problem as these situations make people more prone to financial instability. Such instances are more common and prevalent in the unorganized sector. In the unorganized sector, workers are constantly faced with issues that are above and beyond insurance. These workers are inadvertently exposed to risks such as income volatility, hazardous conditions at the work place, and a significant lack of retirement or old age benefits. These risks, as a matter of fact, can be substantially reduced through the tool of insurance. Approximately 82% of India’s population is engaged in jobs in the unorganized sector. Almost around 392.31 million people in India live along with the constant threat of financial losses and setbacks due to insufficient and inadequate insurance coverage. On a global level, three standard metrics are made use of to comprehend the insurance cover. These three elements are annual premium growth, insurance penetration, and insurance density. The number of people covered by insurance policies in India remains at an all-time low.

      21 January 2019

    • The First-Year Premium Income of Life Insurance Sector Surges by 19.1%

      Life insurance policy sales have been increasing at a tremendous rate and it recently surged by 2% to 25.16 lakh during the month of December 2018 itself. The first-year premium income of the sector of life insurance has jumped by 19.1% to an amount of Rs.18,237.84 crore during the month of December 2018.Furthermore, the private life insurers have reported a surge of approximately 23.9% in the collection of premiums, and the total amount of money collected in premiums currently stands at Rs.7,245.69 crore. The Life Insurance Corporation of India or LIC also reported a rise of approximately 16.1% and their total amount of collection stands at Rs.10,992.15 crore. This report has been collected from the month of December 2018. During the period of April-December 2018-19, the private insurers in India reported a rise of about 23.3%in their first-year premium income.Among the list of about 22 private life insurance companies currently operating in the market, 8 of them have reported a drop in their first-year premium income during the month of December 2018. On the other hand, the collection of premiums of about 14 private players has increased tremendously within the range of 6.3% to 130.6% in December 2018.Life Insurance Policy Sales – In the month of December 2018, life insurers in India sold approximately 25.16 lakh policies which means there has been a rise of around 2% since the month of December 2017.

      18 January 2019

    • Why you should not skip life insurance illustration

      The life insurance policy kit comes with a bundle of documents. The bundle consists of documents such as your policy contract, a copy of your personal completed proposal form, an illustration, and servicing forms. The insurance illustration is a document which contains a lot of numbers. However, this document should be reviewed in order to have an all-round understanding of the insurance policy that you have bought. The illustration is provided before the insurance policy is bought and a signed copy of the same is required to be part of the policy kit. The details pertaining to the premium payments and the benefits of the scheme are recorded in the illustration. The regulator specifies the format and contents of the illustration. The important things that you should review on the insurance policy illustration are the likely benefits, the surrender cost, the terms pertaining to the payment of premiums, and the guaranteed benefits.

      17 January 2019

    • To help your family know about your life insurance, Aegon Life Insurance launches e-card

      After the death of the policyholder, a mandatory procedure will be needed to be carried out by the nominee to receive the insurance amount. A lot of documentation is required, and it is time-consuming. Reports suggest that life insurance policies owned by the policyholder are not known by the nominee themselves. Due to this, the amount remains unclaimed as the claims are not raised. To close this gap, Aegon Life Insurance has launched an e-card called ‘I Owe You’ recently, that helps in offering consumer-driven, digital insurance, and innovative products and services. Being an editable card, it allows the policyholder to create, download, and share the e-card with the nominee.

      16 January 2019

    • Life insurers recorded a 10 percent increase in profits in year 2017-2018: IRDAI

      Life insurers in India witnessed a 10.14 increase in net profit to Rs.8,512 crores in their net profits for the year ended March 2018 according to the annual report released by the IRDAI. There was a substantial increase from the net profit of Rs.7,728 crores in the previous year. According to the IRDAI data of 24 operational life insurers in the fiscal year 2017-2018, 19 companies reported profit. Life Insurance Corporation of India reported a net profit of Rs.2,446 crore and saw a 9.62 percent increase in profit compared to the previous year. The life insurance industry recorded a premium income of rupees Rs.458,809 crore. The general insurance industry, including standalone insurers, incurred a total direct premium of Rs.150,662 crore last year with a growth rate of 17.59 per cent. Though the premium collected was substantially higher than the previous year, the growth rate saw a decrease from 32.94 per cent as recorded in the year 2016-2017.

      14 January 2019

    • Even Siblings Could be Nominees for Life Insurance

      Insurance companies allow insured individuals to nominate their spouses, parents and children when purchasing a life insurance policies. In certain cases, cousins and siblings are also allowed to be named as nominees following due diligence. The basis on which cousins and siblings are allowed to be nominated is insurable interest. According to this concept, there should be a certain financial connection between the individual purchasing a life insurance plan and the individual who is being nominated. Insurable interest is something that is a critical part of every insurance policy. It is regarded as the legal prerequisite for being insured. So far as life insurance is concerned, the presence of insurable interest will be checked by the underwriters when the policy is being issued. The purchase of life insurance is done to offer financial support to the family of an individual to ensure that their life goals remain unchanged and are not affected if the policyholder dies. Likewise, the purchase of health insurance is done to ensure that the family members of the policyholder are financially supported.

      10 January 2019

    • Here’s How a Life Insurance Policy Can Help You Meet Your Financial Goals

      For a number of Indians, a life insurance policy is viewed as an investment instrument that can help them achieve their financial goals. A recent survey revealed that approximately half of the majority of those with a life insurance policy purchased it to have something to leave their families in the event of their death. A little less than half of the participants stated that the insurance policy was purchased for the purpose of funding their retirement while the remaining purchase a policy for constructing a house or funding their children’s education. What stands out from these observations is that a significant number of policyholders are unaware of the amount of the cover that they should opt for. Most individuals choose a cover that is 10 times their annual salary.The number of individuals concerned about their financial future has increased significantly and a large number of individuals have a positive outlook towards planning their finances. However, the need for financial literacy is an issue that needs to be redressed.

      9 January 2019

    • Amitabh Chaudhury was geared up much before taking the leadership of Axis Bank

      Before taking over the leadership of Axis Bank on 1 January 2019 Amitabh Chaudhury, an insurance veteran, was preparing himself for the role almost 4 months before coming on board. In the month of October, he had a meeting with the senior leader ship of Bain Capital over a coffee at Taj Chambers along with co-founder Stephan Pagliuca. Mr. Chaudhury who is an investment banker turned insurance veteran having 9 years of experience with HDFC Life was keen about pleasing the investors as well as the employees. As a matter of fact, he has taken over the leadership of Axis Bank after the end of the tenure of Shikha Sharma, the managing director and CEO of Axis Bank. In order to stay on top of things he also conducted a one-on-one series with the business and department heads of the bank few weeks before taking the charge at the Four Seasons Hotel.

      8 January 2019

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    Customer Reviews

    • LIC Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      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 3000 it is nominal , and premium amount i use to pay through on line.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 22, 2019
    • Birla Sun Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my life insurance with Aditya birla , there service is they provide me was excellent, till now i have not face any issue in that, there premium amount they have charged me in monthly basis,they have charged me up to 6200, and it is nominal to me , the agent had explain me about the policy coverage and plan benefit properly,i use to pay on on line mode. overall service is good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 22, 2019
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have purchased my money back policy long bank and twice i have received the cash in my account without giving any request and I'm quite happy about the received sum assured amount. I pay the premium amount of Rs. 600 every month. I make the premium through online.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 22, 2019
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      Bought my life insurance policy from LIC. I have chosen the plan called Jeevan Anand. This is the tax benefits policy. I pay the premium amount of Rs. 1000 every month with the tenure period of 2.5 lakhs. This is a 15 years tenure period policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 22, 2019
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have bought the life insurance policy in the year of 2011. My agent has suggested me about this policy. I have been paying the premium amount of Rs.10300 through ECS. I have chosen the mode of annually. Overall, I'm satisfied with the LIC policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 22, 2019
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      Purchased my money back from LIC. I have selected the LIC company for my policy its because of the better option. They are providing various payment mode facilities. I'm satisfied with the sum assured amount and LIC customer care service is really fine.
      Was this review helpful? 0
      , indore
      Reviewed on Jan 22, 2019
    • Kotak Life Life Insurance
      "Good Insurance Policy"
      0.5 4.0/5 "Great!"
      I have purchased a accidental covered policy from Kotak Mahindra bank. Kotak gives more online services and the app is really good. I have got this policy 5 months back. I made a premium amount of Rs. 1200 and this policy covers only for me. I have not claimed anything in this policy so far.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 22, 2019
    • SBI Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my life insurance with State bank, and the agent had clearly explained me about the policy coverage and benefits,there have given me hard copy ,and the premium amount they have charged me on yearly basis, and i pay my premium through on line.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • LIC Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my life insurance with Life insurance corporation of India, i have taken Jeevan anand policy ,i have paying premium on yearly basis up to 9,000 they have charged me , it is nominal for me , i use to pay through on line, the agent had clearly explain me about the policy and benefit coverage.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 21, 2019
    • LIC Life Insurance
      "Excellent Policy"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance policy almost four years back and i had been paying the premium amount quarterly. The premium amount has not been high and the payment method has also been convenient. It is a very good policy and is suggestible to all others.
      Was this review helpful? 0
      , bilaspur
      Reviewed on Jan 21, 2019
    • HDFC Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this insurance policy a long time back and i had been paying the premium on an annual basis. The premium amount has not been high and the payment method has also been convenient as well. There has not been any hassle faced with the services which they had provided so far.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 21, 2019
    • LIC Life Insurance
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance policy a very long time back and i had been paying the premium half yearly. The premium amount has not been high and the payment method has also been simple. There was no difficulty faced in the payment methods and their staffs had also been helpful at times.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 21, 2019
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