Any risk can be insured for a price. Hence there are many types of insurance such as Automobile Insurance, Business Insurance, Health Insurance, Life Insurance, Pet Insurance, Travel Insurance, Property Insurance, etc. This webpage will focus on health and life related insurance policies in India.
There are following types of Life insurance policiesGenerally insurance agents shy away from recommending Term Insurance plans. This is because the term insurance plans have a very low margin for the insurance agents. MeraMD is the first site to provide detailed comparison of term insurance plans for your benefit.
The advantage of term insurance is that you are not paying the insurance companies to invest on your behalf, the downside is that you need to be disciplined enough to make good investments yourself. Term insurance gives you a much larger Sum Assured than other plans, for the same amount of premium, because its a pure risk cover.
The method used to compare the term plans costs across the insurance companies was this. We took the following parameters across all plans:
Policy Name | Min entry | Max entry | Max Age | Min term | Max term | Min SA | Max SA | Cost (Rs.) | |
Aviva | LifeShield | 18 | 55 | 65 | 5 | 40 | 500,000 | NA | 3530 |
Bajaj Allianz | New Risk Cover | 18 | 60 | 65 | 5 | 40 | 400,000 | 50 Cr | 3730 |
Bharti AXA | Secure Confident | 18 | 55 | 60 | 5 | 25 | 500,000 | NA | 2940 |
Birla | Term Plan | 18 | 55 | 70 | 5 | 25 | 200,000 | NA | 3551 |
HDFC | Term Plan | 18 | 60 | 65 | 10 | 30 | NA | NA | 3050 |
ICICI Prudential | LifeGuard | 18 | 55 | 65 | 5 | 30 | 500,000 | NA | 3025 |
Kotak | Term | 18 | 60 | 70 | 5 | 30 | 250,000 | 5 Cr | 4602 |
Kotak | Term Prefered | 18 | 55 | 60 | 5 | 30 | 250,000 | 5 Cr | 3143 |
Max New York | Level Term | 18 | 55 | 60 | 5 | 25 | 250,000 | 5 Cr | 3050 |
LIC | Anmol Jeevan | 18 | 55 | 65 | 5 | 25 | 500,000 | 3 Cr | 3821 |
Metlife | Suraksha TA 60 | 18 | 60 | 65 | 5 | 25 | 50,000 | None | 3600 |
Reliance | Term Plan | 21 | 60 | 65 | 5 | 25 | 250,000 | None | 3070 |
SBI Life | Shield -Level | 18 | 60 | 65 | 5 | 25 | 300,000 | 25 Cr | 2964 |
Tata AIG | Raksha | 18 | 50 | 60 | 10 | 25 | NA | None | 2640 |
Additional notes for the above table:
DISCLAIMER:
meraMD.com is not connected to any of the insurance companies listed above and does not recommend any specific insurance company. All rates and information given above is taken from the respective company websites, as of July 2007. meraMD.com is not responsible in case this information is outdated or no longer applicable.
MeraMD.com will provide answers to all your insurance queries
through the qualified Insurance Agents on the meraMD panel. Please send
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