Term Insurance Premiums

Term insurance are the most ignored policies however its gives you the best life cover. Money Today complied the premium rates for Term Insurance covers for 25 lakhs of top insurer.
Ageon Religare & Kotak Life Insurance has the most economical premium.
Religare Premium is Rs 23 per day and Kotak Premium is only Rs 24 per day( Rs 8764) for a 35 year old non smoker who takes the policy for 25 years.



*Kotak rate is for Non Smoker.
Money Today sourced the information from Company websites
Figures are indicative premium in rupees for a year assured of Rs 25 lakh inclusive of service tax. Assuming that the insurance policy is take till the age of 60.


All rates are on date 11 Dec 2008

Children Policy

Once upon a time “you were a naughty child“ and now It’s time your are doing a ‘Google Search” for Children Policy – You are grown up.

Do you remember if your parents had a Children Policy for you?

Most of you will answer NO (sometimes you have found your parents struggling for finances for your higher studies/ Marriage etc). However make sure when your child reads this, the answer should be “YES”.

Now Parents and grandparents want the best for the little loved ones in their lives—from keeping them healthy and happy to providing for their financial future. Children’s life insurance is a tool many families use to give their children a financial foundation that they can draw upon when they are older.
You may have a financial plan in place for your future but what about your child. Planning for your child future is an important decision which one should make in right time.

Simply put “Children Plans are the instruments which make sure your Child fulfils his/her future need”.

It’s a religious and systematic saving which you make for your Child Future needs. There are a variety of child insurance plans available in the market today, which can act as a savings tool to secure your child’s future.

There are two types of children insurance policies available.
-The child is the life assured: This is a plan where the Childs life is assured (however in some cases riders can be availed by paying extra premium). In this plan the premium will be lower and returns are not very attractive. Theses can be simple money back plans taken in the Childs name
-The earning parent or guardian is the life assured: This plan insures the life of the parent and adds some child specific advantages. Most of young parents chose this Life Insurance Policy.
To ensure your children lead happy and successful lives, it’s important to plan now so that they will have the financial support they need in the future.

So dear parent, next time a advisors asks “Are you interested in Children’s Policy ?” Don’t say No. Listen to the plan, but take your time to decide.

Insurance Policy with Money Back

What is Money Back Insurance Policy ?

As the name suggest you are getting something back from the insurers. Yes you are getting your hard earned money back and still you will be enjoying Insurance cover.

These are the policies which give you back a predefined amount of money at regular interval. The Money Back Insurance Policy has a 3 in 1 advantage, Its gives you a LIFE INSURANCE , LIQUIDITY and GUARANTEED SAVING. No doubts that why these policies rank high on the popularity chart.

In ordinary endowment insurance plans where the survival benefits are payable only at the end of the endowment period, money back policies provide for periodic payments of partial survival benefits during the term of the policy, as long as the policy holder is alive

What makes these products even more attractive is that in the event of death of the policyholder at any time during the policy term, the death benefit is the full sum assured without deducting any of the survival benefit amounts, which may have already been paid as money back components

Check Before U Buy

The most crucial aspect is reading the terms and conditions thoroughly and understanding each clause well.
Money back policy provides additional optional benefits such as critical illness benefits, additional term benefit, accidental death benefit and waiver of premium benefit. Check if your selected insured provide it or Not?
Check on the Minimum number of years for which the premium is to be paid to keep the policy alive, Surrender charges and tax benefit rules.

Advantages & Disadvantages of Term Life Insurance.

Advantages of Term Life Insurance.

• Term Insurance is the cheapest form of insurance.
• Provides a safety net for your family.
• Tax saving instrument.
• It pays a death benefit to the beneficiary you name.
• It will cover your final expenses and provide a lump sum for your dependents.
• It covers you for the full amount of life insurance you choose.
• It gradually increases annual premium as you get older. (Some Policies)
• It traditionally works well to meet temporary insurance needs.

Disadvantages of Term Life Insurance.

• No returns.
• Nothing is paid if u outlive the term.
• Only cover for a term.

Term Insurance

Some of us mix insurance with investment. Insurance is primarily for protection not for investments (however some products are designed to act as investment also). One of the purest and cheapest forms of insurance is Term Insurance. Term insurance give you a pure risk cover for a specified term.
If you have a family and dependents the Term Insurance is must for you. If you have taken a housing loan or any other big loan you can’t avoid having a Term Insurance. This policy is particularly useful to cover any outstanding. Since the policy has no financial investment value and most of your premium goes to pay for coverage, with only a small amount used to pay the insurance company's costs. If you are looking for the maximum amount of coverage for your Rupees , term life insurance will give you the most "bang for your buck".

Example : Say Mr Bond bought a term insurance policy for Rs 25 lakh (Rs 2.5 million). The term of the policy is for 20 years. If Mr Bond passes away during this period, his family will get Rs 25 lakh. The emotional void of Mr Bond can’t be fulfilled however this policy will take care of the financial insecurities. But, if survives for 20 years nothing will be paid, all premiums (money that you pay to the insurance company to maintain your policy) will be a loss.

Term insurance are of various kinds.

1. 1.Single premium Term Insurance.
2. 2.Regular premium Term Insurance.
3. 3.Premiums return Term Insurance.
4. 4.Decreasing Term Insurance.
5. 5.Loan Cover Term Insurance.

Also Read Advantages and disadvantages

YOU LEAP ! Whats that ?

You Leap ! no no it's ULIP - Unit linked Insurance Plans. ULIPs are for those who have a greater risk appetite for wealth creation. Here the money is invested in market-linked instruments like stocks, corporate bonds and government securities. A major portion of money is invested in Equity where the returns are higher in the long run so if you are planning to invest for a longer run & get the Life Insurance coverage & investment benefits at the same time then one must go for ULIPS.

Unit-linked life insurance products are those where the benefits are expressed in terms of number of units and unit price and all depends on the NAV.

Unit-linked products are exempted from tax and they provide life insurance which makes it an attractive investment tool in a portfolio. Unit Linked Insurance Policies as an investment are similar to mutual funds in terms of their structure and functioning, sometime ULIP is also compared to Life Insurance with profits

The advantage of Unit linked plans are that they are simple, clear, and easy to understand. Being transparent the policyholder gets the entire upside on the performance of his fund. Besides all the advantages they offer to the customers, unit-linked plans also lead to an efficient utilisation of capital. The good time to buy a ULIP is when one can expect long-term growth ahead. This is especially so if one also believes that current market values (stock valuations) are relatively low.

Illustrations are shown to the client by the advisor to give him an idea about the returns on his policy. Agents are bound by guidelines to show illustrations based on an optimistic estimate of 10% and a conservative estimate of 6%. However ULIPS have shown returns more that 10%. Also note that the insurance company must state the ULIP charges explicitly

Be cautious of the marketing gimmicks, though IRDA, to their credit, did intervene at regular intervals to infuse some much-needed sanity.

If you would like to know how life insurance can help you meet your financial requirements please mail us at indiainvestinsure(at)gmail(dot)com

Types of Life Insurance Policies

The Life insurance policies can be classified into the following types.

1. Term Insurance Policies
2. Unit Linked Policies ( Popularly known as ULIP)
3. Money Back Policies
4. Whole Life Policies
5. Endowment Polices
6. Retirements Benefit / Pension Policies
7. Children Insurance

There are various kinds of Insurance policies floated by the companies with different names. You must have heard about the Hot selling policies like Kotak Smart Advantage Plan (KSAP) by Om Kotak, Jeevan Anand by LIC etc etc . Name does not relate to anything and so it should not be a criteria for selection. Just check where it fits in, is it a ULIP or Whole Life and does it fulfill your requirement.

Click on the Policy type to get more information.

List of Life Insurers in INDIA

"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks" - Benjamin Graham

S.No	NAME OF THE COMPANY	TELEPHONE NO./FAX No./E-MAIL & WEB ADDRESS
1.	Bajaj Allianz Life Insurance Company Limited GE Plaza, Airport Road, YerawadaPune 411006	Tel: 020-4026666 Fax : 020-4026789
2.	Birla Sun Life Insurance Co. Ltd 6th Floor, Vaman Centre, Makhwana Road, Andheri-Kurla Road ,Andheri(E), MUMBAI-400 059.	Tel : 022 5678 3333 Fax: 022 5678 3232
3.	HDFC Standard Life Insurance Co. Ltd 2nd Floor, Trade Star Kondivita Junction Andheri Kurla Road Andheri East Mumbai 400059 .	Tel : 022-67516666 Fax: 022-2822 8844
4.	ICICI Prudential Life Insurance Co. Ltd ICICI Prulife Towers , 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025.	Tel :022-56621996 Fax: 022-56622031
5.	ING Vysya Life Insurance Company Ltd. ING Vysya Home, 5th Floor, #22 Mahatma gandhi Road Bangalore-560 001.	Tel : 080-25328000 Fax: 080-25559764
6.	Life Insurance Corporation of India Yogakshema, Jeeva Bima Marg, Post Box No. 19953 MUMBAI 400 021	Tel 56598701;56598702 Fax: 22824386 E-Mail ; chairman@licindia.com
7.	Max New York Life Insurance Co. Ltd 11th Floor, DLF Square , Jacaranda Marg, DLF City , Phase-II, GURGAON 122 002.	Tel : 0124-2561717 Fax: 0124-2561764
8.	Met Life India Insurance Company Ltd. Brigade Seshamahal, No. 5, Vani Vilas Road , Basavanagudi, BANGALORE-560 004.	Tel : 080-26438638 Fax: 080-26521970 Toll Free No. 1-600-44-6969
9.	Kotak Mahindra Old Mutual Life Insurance Limited 9th Floor, Godrej Coliseum, Behind Everard Nagar, Sion (East), MUMBAI-400 022..	Tel : 022-6621 5999 Fax:022-6621 5757, 6621 5858
10.	SBI Life Insurance Co. Ltd Turner Morrison Building, 2nd Floor, 16, Bank Street, Fort Mumbai-400 023.	Tel : 022-56392000 Fax: 022-56621471
11.	Tata AIG Life Insurance Company Limited 5th 7 6th Floor, Peninsula Tower, Peninsula Corporate Park Ganpatrao Kadam Marg, Lower Parel, MUMBAI 400 013.	Tel : 022-66516000 Fax : 022-66550711
12	Reliance Life Insurance Company Limited. 1st Floor, Mdas, Sahar Plaza,Andheri Kurla Road, Andheri East, Mumbai 400059.	Tel : 022-30479600/30479784 Fax: 022-30479650
13	Aviva Life Insurance Company India Limited Aviva Tower, Sector Road, Opposit Golf Course, DLF-Phase V, Sector-43, Gurgaon - 122 003	Tel: 0124-270 9000/01, Fax: 0124-270 9007.
14	Sahara India Life Insurance Co, Ltd. Sahara India Bhawan, Kopoorthala Complex, Lucknow 226024	Tel: 0522-2337777 Fax: 0522-2378200
15	Shriram Life Insurance Co, Ltd. Regd. Office : 3-6-478, 3rd Floor, Anand Estate, Liberty Road, Himayat Nagar, Hyderabad - 500029	Tel: 040-23434466-72 Fax: 040-23434488
16	Bharti AXA Life Insurance Company Ltd. 61/62, Kalpataru Synergy, Vakola, Opp. Grand Hyatt Hotel, Santacruz (E) Mumbai – 400 055	Tel: 022 – 40306300/6301 Fax: 022 - 40306347
17	Future Generali India Life Insurance Company Limited 001, Trade Plaza, Ground Floor, 414, Veer Sarvarkar Marg, Prabhadevi, Mumbai 400 025.	Tel No.: 022-40976688 Fax No.: 022-40976868
18	IDBI Fortis Life Insurance Company Ltd., Tradeview, Oasis Complex, Kamala City, P.B. Marg, Lower Panel (W), Mumbai-400 013	Tel No.: 022-24908109/10 Fax No.: 022-24941016
19	Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. C/o. HSBC at Amsoft Systems, Unitech Trade Centre, Sector-43, Sushant Lok-1, Opp. Park Plaza Hotel, Gurgaon-122 001.	Tel: 0124– 44215706 Fax: 0124- 4201109
20	AEGON Religare Life Insurance Company Limited. GYS Heights, 2nd Floor, Paranjpe “B” Scheme, Subhash Road, Near Garware House, Vile Parle (E), Mumbai – 400 057	Tele No.- 022-67292929 Fax No.- 022 67293333
21	DLF Pramerica Life Insurance Co. Ltd. 6th Floor, DLF Gateway Tower, R Block, DLF City, Phase-III, Gurgaon-122002.	Ph. No.- 91-124-271700 Fax No.- 91-124-2717200

Life Insurance

Life Insurance Policy becomes a priority with the need to safeguard your family - it is considered one of the most popular savings/investment schemes.

Insurance is essentially the means to financially compensate for losses that life throws at people - corporate and otherwise.

Life is full of uncertainty and unpredictable future, Insurance then is man's answer to the vagaries of life. If you cannot beat man-made and natural calamities, well, at least be prepared for them and their aftermath.

It reminds me " Nothing in life is to be feared. It is only to be understood - Marie Curie ", So we have to understand it on time .

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums.

Now Life insurance also provides other benefits apart form the main motive. Insurance is now considered as a Tax saving and wealth creation instrument.

The requirement of Life insurance varies from person to person and also depends on the age of the person. To serve the purpose there are various kinds of Life insurance.

Good News is that there are around 19 Life Insurers, with a more than a 100 of policy to chose. Don’t worry all insurers has to work under the guidelines of IRDA (Insurance Regulatory and Development Authority, which was constituted by an act of parliament). So its not just LIC (Life Insurance Corporation) who can service you , you have many more options. You can buy what you Like to Buy, Not what your advisors or agent pushes.


First and foremost you have to identify, why at all you need an Insurance? How it will benefit you ? and If it benefits you , how much should you spends to get the benefit ?

Oh! It seems there are Lots of Why ? , What ? Where ? How ? are involved.
Don’t worry We will help you to make it Easy, Yeah ! Now I could see the simile on your face
So keep yourself at peace, just read our articles to get the answers.

“The good life is inspired by love and guided by knowledge.”- Bertrand Russell