I have explained in my earlier post that all the insurance companies will be moving towards Online channel for selling their insurance products. Also I have explained that Term plans which were earlier untouchable products will be selling like hot cakes due to increased awareness and demand of this class of product. Kotak life insurance has launched low cost term insurance plan which can be bought online only at much lower cost, inline with what is being offered by Aegon Religare ITerm plan, ICICI Prudential IProtect Plan, Metlife Met protect Plan.
Showing posts with label Term Insurance. Show all posts
Showing posts with label Term Insurance. Show all posts
Thursday, December 30, 2010
Saturday, October 16, 2010
Review Met-Protect- The Online Term Plan from Metlife Insurance Conpany
Now, this is the New Kid on the Block, Online Term Insurance from Metlife "Met-Protect" product in the same line with Aegon Religare I-Term and ICICI Prudential I-Protect is offering, where premium rates are much lesser than other products available in the market. Although I have explained about Term Insurance plan in my Earlier post we will be going through it once again.
Friday, October 15, 2010
Reasons why Online Term Insurance Aegon Religare I- Term and ICICI Prudential I- Protect is coming so cheap
I have posted earlier about the 2 Cheapest Online Term Insurance Products, I-Term from Aegon Religare Life Insurance and I-Protect from ICICI Prudential Life Insurance. I have received many mails from Readers asking why these products are being offered so cheap, Premium being lesser than 50% of what is being Charged by LIC and other Insurance companies? What's the catch? How will we be assured that we are purchasing right product?
Me and my brother have personally opted for this policy after undergoing very stringent medical tests.After giving a deep thought, have come out with possible reasons.
Tuesday, August 17, 2010
Review - ICICI Pru iProtect Online Term Insurance
I have always emphasized about having a term Insurance in your portfolio in my earlier post as it offers High Coverage at much lower cost as compared to any other Insurance products like ULIP and Endowment plans.
In the term insurance segment, you all must have heard about Aegon Religare I-Term Plan, a revolutionary product which was launched last year offering Online term insurance at really lower cost as compared to other products available in the market. Those who have not heard please refer to my Post Lowest Premium Term Insurance Policy in India
Saturday, July 31, 2010
Opt for Higher sum Assured in term insurance, Pay less premium
Planning to take a term insurance? Have decided for the sum assured already? Wait.... please read the interesting facts below before purchasing Term insurance for yourself.
Please find below the table in which Premium for various amounts of two cheapest term insurance plans in the market, and surprisingly, its not that you pay higher premium for higher sum assured.
Wednesday, March 3, 2010
Life Insurance: Types of life Insurance policies
Need for life insurance
Risks and uncertainties are part of life's great adventure -- accident, illness, theft, natural disaster - they're all built into the working of the Universe, waiting to happen.
Insurance, therefore has proved to be man's answer to the uncertain vagaries of life. If you cannot beat man-made and natural calamities, well, at least be prepared for them and their aftermath.
Insurance basically can be defined as a contract between two parties - the insurer (the insurance company) and the insured (the person or entity seeking the cover) - wherein the insurer agrees to pay the insured for financial losses arising out of any unforeseen events in return for a regular payment called "premium".
These unforeseen events are defined as "risk" and that is why insurance is called a risk cover.
Insurance and Policies
The best insurance one can get for risk cover is Term Insurance. The biggest disadvantage of Term Insurance is that you dont get any money back at maturity, however that disadvantage is taken care by absolutely very low premium.
For Instance to take cover of 50 lacs, one has to shell out between Rs6000/- to Rs 15000 only. Premium varies from 1 insurance company to other and the difference can be substantial. Hence I suggest to do complete survey before signing up with any insurance company.
Term insurance is also the cheapest for of Insurance one can have. Actually this is a "No Frills Policy"
One has to usually go for medical checkup for this type of insurance as insurers are very particular about it. While it may be cheapest form of insurance for us, its the most risky proposition for the Life insurance company. One policy issued to wrong person resulting a claim can cost dear to the insurers and hence, they are really cautious when it come to issue of this policy.
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