Lowest Premium Term Insurance Policy in India & Lowest Charges Unit Linked regular Premium Policy

Friends, I have personally shortlisted 2 types of insurance which can be bought online only. Since there are no agents involved, charges deduction in these pans are minimal and even agent's profit share are passed on to you.

Term Insurance plan
The term insurance plan with lowest premium is offered by Aegon Religare I-term plan. This is an online insurance and hence can be bought online only or by calling the toll free customer helpline no of the company. You will be amazed to see that premium offered by this company is 50% lower than any other Life insurance company. According to me this insurance deal is a steal.

Please find the comparison of Term insurance policies from various Insurance companies for a 30 year old healthy male for a term of 25 years.

Insurance Company and Plan	Premium	Service Tax	Total Premium
Aegon Religare-Iterm Plan	5600	577	6177
Bajaj Allianz- New Risk Care II	11525	1187	12712
ICICI Prudential- Pure Protect Elite	9692	998	10690
LIC- Amulya Jeevan	14600	1504	16104
Aviva-Life Shield Plus	10300	1061	11361
Max New Yor Life-Level Term Policy	15250	1571	16821
Reliance Life- Term Plan	14674	1511	16185
SBI Life- Shield	14570	1501	16071
TATA-AIG- Life Raksha	13200	1360	14560

Best ULIP Plan
Here I would recommend Bajaj Allianz I-Gain II ULIP Plan

Bajaj Allianz I-Gain II plan. This is the ULIP plan which can be bought only online or by contacting their call centers. You cant get this policy from insurance agents. 

Please find the detail of charges as under
Premium Allocation Charge
Charges Details

For first Year Only

Annualized Premium Size
8,000 - 24,999	5.00%
25,000 – 199,999	2.00%
200,000 and above	NIL

2nd year onwards: NIL

# From Policy Year 11 onwards, the Company will give extra allocation of 2% by way of a Premium Allocation Fund Management Charges Fund Fund Management Charge per annum Equity Growth Fund II 1.35% Accelerator Mid Cap Fund II 1.35% Pure Stock Fund 1.35% Asset Allocation Fund 1.25% Equity Index Fund II 1.25% Liquid Fund 0.95% Bond Fund 0.95%

Switch Charges Unlimited Free Switches in a Policy Year Policy Administration Charge 4.5% of first year Annualized Premium per annum subject to a maximum Rs. 1,200 per annum.  This charge will be inflating @ 5% per annum on every 1st of April.

Surrender Charge  If first three years' regular premiums have not been paid, then surrender charge would be 25% of first years' Annualized Premium. If due premiums for first three years' have been paid, then surrender charge would be as follows: Charge as a % First Years’ Annualized Premium

Miscellaneous Charge Rs. 100/- per transaction in respect of reinstatement, increase or decrease in regular premium.

Disclaimer

· Information gathered from websites of respective insurance companies. Please note that these are just the indicative premium. For exact premium amount kindly contact the respective companies.

· We don’t represent nor we recommend any insurance company, please do your own research before signing up with any insurance company.

· Information provided on best effort basis.

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