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Old 19th August 2010, 10:24   #136
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Originally Posted by amitk26 View Post
But apart from LIC all other PSU are general insurance companies can they offer or do they offer life cover ?
I was under the impression that LIC is the only public sector insurance company which can offer life cover and rest are only for general insurance.
Although the PSU insurers which I referred do not provide multiple options of Life insurance but they do provide insurance ofr life in the form of "personal accident". You may be right in saying that LIC is the only PSU for life insurance since it has various forms of insurance options. Correct me if I am wrong.
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Old 19th August 2010, 12:07   #137
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Hi all,
My bro would like to spend around 6K/ month for any life insurance cum growth plan like a having both. please suggest which is the best plan/scheme available now.

Thanks,
Ramki
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Old 19th August 2010, 13:35   #138
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Originally Posted by ramki067 View Post
Hi all,
My bro would like to spend around 6K/ month for any life insurance cum growth plan like a having both. please suggest which is the best plan/scheme available now.
Thanks,
Ramki
@ramki,

Your brother needs to know his goals before any suggestions could be made. One thing for sure is to separate Insurance from investment. If your brother wants growth then you need to check accordingly.

The only option of having both Insurance and growth bundled into one is go for ULIPs. But they are costly instruments in the initial years and can be opted for only if the long term planning is thought for.
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Old 19th August 2010, 15:35   #139
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Could any one tell how much it would cost to take a pure term life insurance for a 45 years male for insurance cover of about 10 cr for an HNI...ulip's and private co's not in consideration, LIC is preferable...Thank You
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Old 20th August 2010, 08:49   #140
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Could any one tell how much it would cost to take a pure term life insurance for a 45 years male for insurance cover of about 10 cr for an HNI...ulip's and private co's not in consideration, LIC is preferable...Thank You
If LIC's Jeevan Amulya is chosen for a SA of 10Cr and a premium paying term of 15 years the premium would come approx to 6.5L per annum.

Just try changing the parameters on LIC website to get the reqd results.
Link below.
Life Insurance Corporation of India
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Old 9th September 2010, 11:50   #141
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Guys,

Does it matter if you take a LIC policy from an outstation agent? This guy lives in our native town (around 300 Kms. from here) and is willing to give a good discount on the first premium.

I am taking LIC's Jeevan Nidhi Pension scheme for 20 yrs.
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Old 9th September 2010, 14:06   #142
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Originally Posted by prajwalkashyap View Post
In about a year's time, u'd have 1 FD, 1 ULIP plan and 1 long term growth and 1 short term growth plans.
ULIP & any form of Whole Life Insurance is a sucker's game. Nobody should buy it in my opinion.
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Old 9th September 2010, 14:28   #143
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Quote:
Originally Posted by NK@Hyd View Post
Does it matter if you take a LIC policy from an outstation agent?
Absolutely NO; ensure you register your policy online so that you don't need to depend upon the agent anymore & you can start paying premiums regularly over online.
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Old 9th September 2010, 14:48   #144
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Quote:
Originally Posted by NK@Hyd View Post
Guys,

Does it matter if you take a LIC policy from an outstation agent? This guy lives in our native town (around 300 Kms. from here) and is willing to give a good discount on the first premium.

I am taking LIC's Jeevan Nidhi Pension scheme for 20 yrs.

As long as your paying the first premium to your agent by cutting a cheque in name of LIC then it does not matter if your agent stays even 3000kms away.
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Old 9th September 2010, 15:52   #145
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Originally Posted by aargee View Post
Absolutely NO; ensure you register your policy online so that you don't need to depend upon the agent anymore & you can start paying premiums regularly over online.
Easier said than done. I am trying for months to register my policy online. The guys at the LIC office here say they are helpless and I need to go to the Trivandrum office from where I took the policy. Phone calls and letters to the tvm office have not helped.
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Old 9th September 2010, 16:15   #146
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Originally Posted by Jaguar View Post
Easier said than done. I am trying for months to register my policy online. The guys at the LIC office here say they are helpless and I need to go to the Trivandrum office from where I took the policy.
Well, that's the clear case of an agent who enjoyed the commission & forgetting the customer. He SHOULD help you with the online facility.

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Phone calls and letters to the tvm office have not helped.
Obviously, they're still the same; the technology has improved, but not the working skill
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Old 19th September 2010, 15:20   #147
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Hello All,
I did a comparision of term insurance premiums at
Insurance in India | Compare Health, Life & Car Insurance Plans | ApnaInsurance. Premium for 50L for 32 yrs age and term of 30 years are s follows.


ICICI Pru Life - iProtect
View Details

7,666

30

Grace Period : 30
Riders : 1 (Details)





Kotak Life - Term Plan/ Preferred Term Plan
View Details

9,265

30

Grace Period : 30
Riders : 3 (Details)





MetLife - Suraksha Plus
View Details

13,512

35

Grace Period : DNA
Riders : 2 (Details)





ICICI Pru Life - Pure Protect
View Details

14,076

30

Grace Period : 30
Riders : 2 (Details)





Birla Sun Life - High Networth Plan
View Details

14,725

30

Grace Period : 30
Riders : 3 (Details)





Max New York Life - Platinum Protect
View Details

15,001

30

Grace Period : DNA
Riders : 2 (Details)





HDFC Standard Life - Term Assurance Plan (Regular Premium)
View Details

15,347

30

Grace Period : 15
Riders : 3 (Details)





AEGON Religare Life - Level Term Plan
View Details

15,498

30

Grace Period : 30
Riders : 2 (Details)





Aviva Life Insurance - Life Shield Plus
View Details

15,938

30

Grace Period : 30
Riders : 2 (Details)





Canara HSBC OBC Life - Pure Term Plan
View Details

16,324

30

Grace Period : 30
Riders : 0 (Details)





Bajaj Allianz Life - New Risk Care
View Details

16,463

40

Grace Period : 30
Riders : 4 (Details)





LIC - Amulya Jeevan(Plan - 190)
View Details

19,000

35

Grace Period : 15
Riders : 0 (Details)





ING Vysya Life - Term Life
View Details

20,032

30

Grace Period : 15
Riders : 2 (Details)





Reliance Life - Term Plan
View Details

22,937

30

Grace Period : 30
Riders : 2 (Details)





Now ICICI's iProtect is unbelivably cheaper than even the lowest of other brands. Does any one know whats the catch?

Another product from ICICI itself - Pure Protect also provides term insurance. Why is there so much of difference (twice the premium) when it really does not offer anything more than iProtect after from optional riders? I have not checked but all the premiums above are without any riders.
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Old 23rd September 2010, 11:01   #148
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I've few basic questions...
1. What's this sum assured?
2. Surrender value
3. Term (I assume it the number of years to pay the premium)

I remember an ad from LIC where a guy has an icecream & his children also has the same icecream & the ad ends by saying that the returns are doubled; means, the benefits are available even after the policy is over. Is this true?

Can someone enlighten me on this pls? I'm planning to take an insurance policy soon (read it within 10 days)

Tks.
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Old 23rd September 2010, 11:15   #149
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Quote:
Originally Posted by alto99 View Post
Hello All,
I did a comparision of term insurance premiums at
Insurance in India | Compare Health, Life & Car Insurance Plans | ApnaInsurance. Premium for 50L for 32 yrs age and term of 30 years are s follows.


ICICI Pru Life - iProtect
View Details

7,666

30

Grace Period : 30
Riders : 1 (Details)
This iProtect is similar to iTerm from Aegon Religere , The policy is directly sold through web interface so no commission to be payed to agents and no other costs ( roughly 40% of premium) so the benifit is passed to customer.

Ageon Religere was first company to introduce this product in India and now ICICI-Pru has also introduced over a period of time I think all companies will provide a similar product.


Quote:
Originally Posted by alto99 View Post



AEGON Religare Life - Level Term Plan
View Details

15,498

30

Grace Period : 30
Riders : 2 (Details)
Equivelent product in Aegon is iTerm and not level term so if you want to compare compare with similar products.


Quote:
Originally Posted by alto99 View Post

Now ICICI's iProtect is unbelivably cheaper than even the lowest of other brands. Does any one know whats the catch?

Another product from ICICI itself - Pure Protect also provides term insurance. Why is there so much of difference (twice the premium) when it really does not offer anything more than iProtect after from optional riders? I have not checked but all the premiums above are without any riders.
There is no intermedatory / Agent and directly sold to you through internet so cost of distribution is lowest. This is a pure term plan so no amount to be payed back to you and no surrender value.

So no catch as such but only thing is that you need to remember to pay premium annually on your own no agent will come to your home to remind you.

Quote:
Originally Posted by aargee View Post
I've few basic questions...
1. What's this sum assured?
2. Surrender value
3. Term (I assume it the number of years to pay the premium)
In pure term cover plans from ICICI Pru and Aegon-Religere there is 0 surrender value. It just covers life risk.
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Old 23rd September 2010, 11:21   #150
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Quote:
Originally Posted by aargee View Post
Can someone enlighten me on this pls? I'm planning to take an insurance policy soon (read it within 10 days)

Tks.
Do not act under pressure & artificial deadlines. Agent always create artificial deadlines (Sir, after october, we are no longer offering this plan or Sir, after october premiums are going to rise). Usually this is totally rubbish. So unless you feel that there is a very high probability that something catastrophic is going to happen in 10 days, ignore the deadline & take your time to understand everything before entering a contract.
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