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Suggest me a good life insurance policy

Discussion in 'Money Matters' started by kashly, Nov 10, 2010.

  1. kashly

    kashly New IL'ite

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    Hi,

    I am sure most of you have already have a life insurance policy. Unfortunately, I do not have a one. I would like to get a life insurance policy. Kindly suggest me a good policy that you have or suggest.

    I do not have much idea on this. So if you require more details about myself before suggesting a policy,please let me know.

    Thanks

    Kavitha
     
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  2. Moumita1

    Moumita1 Silver IL'ite

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    Hello Kavita,

    A life insurance policy will be depending on your age, the number of dependents, and your premium paying capacity. Do talk to a lot of people on various schemes available, before buying one. Just remember, life insurance is not an investment, just a safeguard for your loved ones.
     
  3. orion80

    orion80 Platinum IL'ite

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    Insurance is to provide some monetary support to our loved ones in case any unforeseen incident happens. So the 3-5 laks cover offered by expensive endowment policies are not sufficient. Go for a larger cover which can cover expenses of the family for few years.

    Here are some insurance cover calculators which gives you a rough idea of the cover you would require:
    Calculate life insurance premium, insurance cover calculator, Human Life Value Calculator - ICICI Pru
    Insurance Calculator | Life Insurance Calculator | About Life Insurance | Life Insurance Explained
    Insurance Calculator - How Much Insurance Do I Need - Aviva India Life Insurance

    One major point to remember is dont mix insurance and investment. Endowment policies do just that. Go for term insurance which offers much better cover for lesser premiums.

    For ex: for a endowment policy which provides a cover of 5 laks, you would be paying around 26-30k based on age and other factors. For a term insurance policy, you will pay around 8k for a cover of 30 laks.
     
  4. Wowsathya

    Wowsathya Senior IL'ite

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    Please let me know if you are intrested in LIC
     
  5. malathi0874

    malathi0874 Guest

    hi friend,
    i suggest u to take LIC'c Jeevan Anand policy, which is whole life with endowment. this policy is good, premium also normal,
     
  6. sumalynux

    sumalynux IL Hall of Fame

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    Even i have taken Lic Jeevan Anand for me and my DH..
     
  7. Joni

    Joni Senior IL'ite

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    Go for Online TERM insurance policy. Aviva has a good option
     
  8. VaniVyas

    VaniVyas Platinum IL'ite

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    We have taken Jeevan Sati policy....
     
  9. Vemala

    Vemala Gold IL'ite

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    If Jeevan shree is active, you can opt for it. Dont go for Private players like royal sundaram and banking corporates. Go for Indian govt owning companies like LIC n etc....
     

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