Buy Life Insurance Online

Life Insurance


One of the initial things that you need to consider while planning for your finances is to give a monetary value to your goals and liabilities. The amount is not just the only important factor but you have to also define the time period by which you are required to reach all these goals. In a case of general person he/she would try investing his/her money but do you think that is the right way to go forward.
Think of a scenario if you not are there or you became somehow incapable to earn money due to some medical emergency.people generally don't like to consider a scenario like this. So before even you take the 1st step to investing you should take your insurance policy. Term insurance policies are the best fit for you in a situation like this. Even if you are not there, to support your family and your goals and liabilities your term insurance policy will be always there.
If you are really looking for the perfect term insurance then do look for online policies. Online term policies always come with low premium compared to their offline counterparts and you generally pay premium which is 20 to 30% less than a offline term insurance policy. The main reason why you pay less is that online customer is perceived to less risky compared to a offline counterpart. A person who is tech savvy is suppose to have better access to health care and leads a better life style so the chances of him/her outliving his/her counterpart is believed to more. We at can help you find the right online term plan that suits well to your needs and help you save a lot on the premium that you would pay.

Top Online term insurance plans:

ICICI Pru iCare II: This is an online variant of the term insurance from ICICI Prudential Life Insurance. The policy aims to protect your family's future and ensure that they lead a comfortable life without any financial worry even in your absence.
This particular online term policy comes with two variants best suited to cater your needs. The variants are:
Option I : This policy only comes with death benefit so in case if you are not there you family members or the designated nominee for the policy get the sum assured in case you die to take care for his/her financial worries Option 2: This option comes an additional accidental death cover along with the death benefit. An additional death benefit equal to the sum assured you have chosen or Rs.50 lakhs which is lower and is payable to your nominee in case of accidental death of the insured to the nominee.
Policy term available: For a regular premium paying option you can select 5/10/15/20/25/30 years as a term.
Age Eligibility: The minimum age of entry for this policy is 18 years and the maximum age is 60 years but you can take a maximum maturity till the age of 65 years. It means if you have opted for this policy at the age of 60, you can keep the policy going till you attain the age of 65.

HDFC Click2ProtectPlus:

It is an excellent online term insurance plan. You can pay as low as Rs.567 per month for Rs.1 crore cover if you are a male in the age group of 25 years and looking for 30 years of term. The policy gives the insured a comprehensive term cover at a very affordable cost. The policy aims to provide the right amount of financial protection which you and your needs. The policy comes with four types of coverage options:

a) Life option: In this case your nominee under the policy will get a lump sum amount equal to the sum assured in case you die. This is a plain vanilla policy that come with only death benefit feature similar to a regular online term plan
b) Extra life option: This options come with an additional cover over and above the life option and is paid to the nominee only in case the death of the insured in accidental
c) Income option: In case of the income option, the nominee of your policy gets the death benefit in two parts. The 1st part is paid just after the death and the left sum assured is paid as a monthly income over a period of 15 years
d) Income plus option: In this case the nominee gets 100% of death benefit in one go as soon as the insured person dies. Other than the death benefit, the nominee would be paid a monthly income equal to 0.5% of the sum assured in the succeeding 10 years. The policy holder also has an option to increase the yearly income by 10% every year
Minimum Entry age for the policy is 18 years whereas the maximum age is 65 years but the policy can have a maturity benefit running till the age of 75 years

TATA AIA iRaskha Supreme:

An excellent non linked non participating online term plan with attractive and affordable price to ensure peace of mind. Provides rate benefits for customers who are looking for high level of protection ranging from 75 lacs and above.
Death benefit under the policy: The policy is designed in a way so the coverage under this policy is well suited to your needs .In case of demise of the policy holder during the term of the policy , the nominee can be paid a death benefit based upon the following factors:
a) 10 times of the sum assured
b) 105% of the total premium paid
In this case the death benefit given to the nominee would depend on the two factors mentioned above with a consideration to the higher amount.
Age Eligibility: Anybody in the age group at and above 18 years can apply for the policy with the maximum entry age is 70 years .The period maturity can extend up to an age of 80 years which is a quite attractive feature.
Premium discounts: Anybody applying for this policy for a higher protection level of 75 lacs and above is eligible for discounts in the premium they pay. The discount details are as follows:
For regular premium paying options:

Sum assured ( Rs)

Discount per Rs.1000 sum assured

75,00,000 to 99,99,999


1,00,00,000 to 1,99,99,999


2,00,00,000 to 4,99,99,999


5,00,00,000 and above



I-secure in an online term insurance policy from Bajaj Allianz life insurance. The plans help you to get advantage of long term cover at a low cost at a high sum assured. As a policy holder you get rewarded under the policy for healthy lifestyle, being a non smoker and being more medically fit. You can select 5 possible term options under this policy. The various term options are 10 years. 15 years, 20 years, 25 years and 30 years. The policy also offers a flexibility to add a spouse to the policy on a later date.
Minimum sum assured: The policy offers a minimum assured value of Rs.2,50,000 for general policy with Rs.20,00,000 for specific categories like Preferred Non Smoker, Non Smokers and Smokers.
Age Eligibility: Anybody can apply for this policy if he or she fall under the age group of 28 years and above with maximum age for entry under this policy is 60 years. The policy lets the policy holder enjoy benefits till the age of 70 years.
Death benefit:
In case of individuals in event of unfortunate death of the policy holder in a condition in which all premiums are paid up to date , the maximum possible death benefit the nominee can enjoy is equal to the amount of sum assured
In case the policy is taken for joint life, the death benefits are paid if any of the policy holder dies and after the death of any of the life assureds the policy continues as a single life policy subject to the conditions if the premium are paid on time.

BHARTI AXA eProtect:

This is an affordable term insurance policy which ensures protection to your family when you are not there to support them. You can enjoy the benefits of rebates on premium in case you are non smoker and have applied for a cover in excess of Rs.50,00,000. The policy comes with unique Family care benefit; it is an option in which the family members are instantly paid an amount of Rs.1, 00,000 within 48 hrs of death of the policy subject to the conditions that the policy is in force. The later part of the benefit is paid to nominee once the claim is settle which gives a peace of mind for the policy holder's family.
Term of the policy: The policy gives the policy holders to choose between 5 possible options while selecting the term of the policy. The term options are 5 /10/20/25/and 30 years plus the policy holders has an option to select fixed chosen policy ceasing age of 60,65,70 and 75 years.
Sum assured: The minimum sum assured you as a policy holder can apply is Rs.25, 00,000


It is a pure term from Max life insurance with minimum entry age of 18 years with minimum assured one can apply is Rs.25,00,000.The premium mode is only annual which is allowed to the policy holders. A policy holder can apply for a minimum term of 10 years with a maximum term of 35 years.
Age eligibility: Any person can apply under this policy in the age group of 18 years and above as the minimum age with maximum age is 60 years with the maximum age for the term for the policy is 75 years.
The various features under this policy are as given below:



Minimum/maximum age of entry ( age as per last birthday)

18 years/60 years

Maximum policy expiry age

70 years

Policy term

Term options available are from 10 to 35 years

Sum assured

Minimum :Rs.25 lacs

Maximum :Rs.100 crs

The sum assured is available in the multiples of Rs.1 lac only

Premium paying term

Equal to the policy term

Premium modes

Annual mode only available


You might be the only bread earner of your family and your family might look at you for their financial safety, Protect@Ease is an online insurance policy from Birla Sunlife insurance company that can be of great help in case of unforeseen circumstances and you are not there to support them.
Age Eligibility: You can apply for this policy you fall in the age group of 18 and above with maximum possible age at which you can buy is 55 years.
Policy term: You can apply for minimum term of 5 years under this policy with maximum term period of 30 years. The maximum possible age of the policy under this term is 80 years which means you can run this policy to a maximum age of 80 years
The policy comes two types of plan options:
a) Level term assurance : Under this option the sum assured under your policy will remain fixed during the whole term of the policy
b) Increasing term assurance: As you all know you income and lifestyle status keep on rising during the term of the policy and simultaneously the monetary value of your financial liability. Under this option the policyholder has an option to increase the sum assured under the policy at intervals. Best part of the option is that is the your sum assured can be increased at the rate of 5% to 10% over and above the basic term without any increase in the premium of the policy

Death benefit:

In case of regular pay options, the death benefits which the nominee would get depend on below factors, under which the highest value would be considered:
a) 10 times of the annualized premium
b) 105% of all the premium paid as on date
c) Sum assured as on the date of death
In case of one time pay, the death benefits area calculated based on the highest value among the below factors:
a) 125% of single premium for all ages
b) Sum assured as on the date of death.
List above would give you a fair idea of how to select the right online term insurance. Go and compare on to select the right policy.

Related Articles

How To Evaluate A Term Life Insurance Plan?

One of the first mantras towards having a sound personal finance balance sheet is to get yourself financially protected . Every person have their own aspirations and goals, sometimes they are for personal in nature and sometime family aspirations are involved. Plus everybody needs to be prepared for the period when one stops earning. This can be achieved by disciplined savings but then what this financial protection is all about?

All these goals and aspirations can only be meet through savings but for savings there should be a regular flow of income to support that. But the reality is life and income are both not predictable but does this mean that one’s goals are also unpredictable. That is not the case in real life, goals and aspirations have to be meet under financial or life conditions. This is where the concept financial protection emerge.

A term insurance plan is actually the type of financial product intended to offer financial protection as discussed above. In case the bread earner of the family died way before his or her normal age then how the goals and aspirations of the people depend on him or her would be handled. Now the family doesn’t have the regular flow of income to support the disciplined savings to support the goals. Term insurance here act as an instrument to provide financial backup to the family and if properly planned can take care of all the aspirations and goals.Even in case if there is a loan liability on bread earner the same also be taken care by the term insurance plan. So from the above definition we can easily evaluate how a term life insurance policy is an important component of one’s financial plan.

Like any other financial product, term plans also needs to be evaluated in detail before they are bought from an insurer. A wrong decision might actually make the financial protection wall insufficient to handle emergencies as discussed above. The below list can created by experts can actually act as a tool to evaluate the right plan from the right insurer suitable to one’s requirement.


  1. As term insurance is a critical component of one’s portfolio so the reliability of the insurer offering the plan should be unquestionable. But it always advised to policyholders to read the terms and conditions of the policy agreement in details before buying. one. Every insurer offer a 30 day free lop period, so even if one is not satisfied once a plan is bought can ask the insurer to refund within that period and insurer should be fast enough to respond to the query.
  2. Every term plan have an extent to which they will cover. Though there is always a sum assured amount which restricts an insurer to adhere to maximum amount of claim which they can’t reject but there can further issues like accidental disability or critical illness cases which might not be covered under a plan .Though in a case like this , the bread earner is not dead but his/her capacity to earn diminishes and so the goals also gets affects..When somebody has taken a plain vanilla term insurance plan, the same might not cover things like this. So to improve the extent of coverage the policyholder can look for additional add on cover to handle critical emergencies of this nature. The term insurance which one has opted for should have options like this.
  3. Another important parameter based upon a term insurance plan has to be evaluated is the minimum entry age and the maximum coverage age. The maximum coverage age defines the age of the policyholder until which the insurer would be responsible to pay for claims of you family when you are not there. If one is smart enough to take financial decision at an early age, can opt for a term insurance plan at that stage. Lower the age lower is the premium that you pay. On other hand higher is the maximum coverage age, the more it is suitable for policyholder to buy term insurance policy like that. Various insurers have also started offering 100 years plan in which case it become more effective as a plan at an older age, though goals have already been achieved and you are in a state when there is not flow of regular income and a simple emergency can disrupt the savings reserve meant to handle issues relating to superannuation.
  4. The fourth most important factor is the claim ratio of the insurer which defines the probability of the insurer settling your family’s claims in case of your demise. This is a critical factor to judge a term insurance plan other the whole objective of buying a term insurance plan would go in vain.

Though the parameters discussed above can give one a fair idea of how to make term insurance plan buying decision in a much better way but it is always advised to take help of online term insurance comparison websites to compare different offerings from different insurance and identify the right plan suitable one’s specific need.


Read More

Term Plan Vs Whole Life Insurance: Which is best to buy for insurer?

Slowly people in India have also started understanding the value around insurance. Don’t ever get confused by treating insurance with the regular investment on the same plane of reference.  One should understand that though both are necessary component of one’s financial plan and both are important for staying financially prudent but going by the real definition, insurance is related to building financial protection and investment is meant to help you grow your money.

Now when the objective is primarily around building financial protection, a term insurance plan should always be considered as the most effective solution. A Whole life plan on the other hand is a combination of savings option and an insurance option. In a term insurance plan, your beneficiary is supposed to get all the benefits associated with the plan only when you are not there and nothing comes as a extra benefit at the end of the policy term. The premium that you pay for a term policy is actually a service charge which you pay to the insurer to give you financial protection so if one is looking for just insurance , term insurance plans should always be considered because it is not only effective but also the cheapest option.

On the other hand considering the case of Whole life insurance plan, as said earlier it is a combination of both savings and insurance so what you pay as premium consist of two thing, one is the insurer’s fee to give you financial protection and other is the extra money which the insurance company charges you as a fee or as a share of interest and which depends on the pattern of investment the investment section of the policy follows. In case the investment section follows a Unit linked pattern of investment, then the premium contains a fee relating to fund management whereas if the investment section just follows  a traditional investment strategy as offered by traditional insurance policies like endowment  , the insurer share a part of the interest earned. This brings to one clear differentiation between term and whole life plan is the difference in premium. The term plans are very cheap as compared to whole life plans.

Looking at the whole gamut of financial needs of different individuals whole life plans can be very effective if one is looking for both, building a savings corpus which is powered by financial security. Whole life plans generally offers protection for a long period of time and your beneficiary not only gets benefits of associated with sum assured if the policy holder dies but also get a return on investment associated with money that has gone to the investment section of the plan.( Things One Should Ask Before Buying A Life Insurance Plan) The other most important benefit associated with whole life plan is one can always apply for a loan from the insurer against the money that has already been deposited with them but which is not the case of term insurance plan.


By definition term plans are effective only in of case of death of the policy holder but in case of permanent or partial disability of the policy holder the term plan are not very effective. In most cases one needs to pay an extra premium towards different riders to take care of specific needs and upgrade the term plan but in case of whole life plans most of these features come as a part of the overall offering by the insurer.( Common Myths About Term Insurance Plans)

So to conclude one should always look at term insurance plan if financial protection is the only objective which one needs to satisfy but but if somebody is looking at holistic investment vehicle supported with financial protection then whole life insurance plans is the most effective solution to look into. People should looking at a term policy should always start at an early age so that one can take full benefits of the same but if you are at your forties and you still don’t have an insurance plan in place whole life insurance are always advised as an efficient solution.

Read More

5 Ways To Decrease Life Insurance Premium Without Compromising On Sum Assured

Any insurer offering life insurance plans look at some vital factors to decide upon what amount of premium to charged based upon a particular amount of sum assured.Some factors like age and sex might not be under your control but there are a lot of  which you can control and which can positively effect in reducing the value of the premium that you pay towards a life insurance plan.

At times if these controllable factors are not taken care off the insurer can either refrain you taking a policy or might charge an extra load to your regular policy premium.Lets look at the few of the important factors which you can control to keep a check on the life insurance policy premium amount.


a)Refrain yourself from excessive drinking and smoking:  These are two habits which one should always refrain from doing.Bad habits like these can have serious long effect on your health and your insurer will always have an interest in knowing about it. During the time of applying for a life insurance policy you are always asked to declare the details of habits like smoking and drinking. A very dependence on both on of these habits would make investing on you by the insurer a risky proposition for them. A heavy indulgence can even lead to rejection of your insurance proposal or you might have to pay some heavy extra charge on a particular amount of sum assured. It is always advised that should always read the terms and conditions of the policy in    details if you carry a similar habit. Unknowing a policy this may give full authority to your insurer to reject your claim

b) Occupational hazards: Your hobbies like scuba diving, boxing or skydiving or people in certain occupations are considered by insurers as dangerous proposition to insure. Some insurers may even refrain themselves from issuing policy even and some may put an extra load on the base premium which would make your plan very costly.

c)Current health condition:  You health is a basic prerequisite based on which your insurer calculates a premium. People with pre-existing bad health conditions are more prone to health hazards. This is will always lead to higher premium being demanded by the insurer. In fact in case of certain critical illnesses your insurer may even reject your insurance application. Policies taken on a later age considers health a primary factor . So it is always advised to take a good care of your health and take possible steps well in advance so that we can keep can avoid extra premium cost.

d)Longer Sum assured: A long sum assured means that your insurer’s responsibility to protect you increases and spreads over a longer period of time. This would always lead to a higher premium of life insurance policy. Like policies with higher sum assured may lead to insurer settling a higher claims and if it is supplemented by long tenure the risk on the insurer increase which would lead to increase premium. So while planning for life insurance policy one should build a complete understanding of the amount of sum assured best suitable for oneself and evaluate the term of the policy most suitable for them.

e)Buying a policy online rather than doing it offline : Insurers considers policyholders taking insurance buying decisions online are more knowledgeable and have better understanding of things. Online insurance customers are also considered to have easier access to right health care services so they are less prone to risks for which the insurer is responsible So it is always advised to take a life insurance plan online because it will be always a cheaper one compared to it offline counterpart.

Read More

Why Claim Settlement Ratio Of Your Insurer Is Important?

Claim settlement ratio is very important component to consider when you are selecting a particular insurer for your term policy. As we all know that Term plans are an important component of anybody’s financial plan as it acts as an insulation for the family against all financial risks that might arise  in case the main bread earner of the family dies or becomes incapable of earning any more.

Before even buying a term plan the person should make a proper calculation regarding:

a)Goals of the various family members who are dependent on the bread earner

b)Any financial liability that already exists.

Other than the above factor one should also take inflation rate into consideration because the value of the goal today would definitely rise at the point when the same has to be achieved and which is a quite common scenario in any economic condition.

Now let’s understand why the claim ratio of your insurer is very important from the perspective of which plans to select and which not to. With the coming of online term plans and website offering Compare Term Insurance Plans online people generally get over persuaded by the premium prices and miss an important component like Claim settlement ratio which is also an important parameter to judge. Say you planned well for your term plan and your insurer doesn’t settle your family’s claim then all your planning would go to waste.

Looking at the recent data published by IRDA on claim settlement ratios shows some astonishing data. You might notice that leaving LIC and most of the state run insurers have a very low claim settlement ratio.


Insurance Provider

Death claims received

Claim settlement ratio

Death Claims Paid

Claims Pending






Max Life





Birla Sunlife





Tata AIA Life





Star Union Daichi





ICICI Prulife





PNB MetLife





Bajaj Allianz





Kotak Mahindra Life










SBI Life





Sahara Life










Canara HSBC





Exide Life





Reliance Life





Future Generali





Aviva Life





Bharti AXA Life





IDBI Federal Life





India First Life





Shriram Life





DHFL Pramerica





Edelweiss Tokio






The policies which you might find very effective from the perspective of your needs and which are very cheaply priced might have the lowest claim settlement ratios. As this particular ratio defines the amount of claim your insurer would probably settle when a claim is raise and sometimes defies the objective why the policy is bought.

So whenever you plan your term insurance plan do considered claim settlement ratio as parameter to decide which policy to buy and which not to.

Read More

Things One Should Ask Before Buying A Life Insurance Plan

We understand the importance of financial security and that is reason by a life insurance plan is an important component of anybody’s financial plan. Managing one’s financial balance sheet is quite similar to managing a company’s financial balance sheet. You should be technically smart enough like a CFO to manage one’s personal financial status. We have our goals and income that help us fulfill them. We have our liabilities and we have to take care of them but stability of income is not always secured, your death or inability to create enough wealth can act as backburner for financial well being. This is where your life insurance plan comes as great help. But before we plan for a life insurance plan we should first try and answer few important questions.

1)  What is the amount of life insurance cover that you require?

Going by the logic of financial math we should have a cover amounting to ten times of the income that you earn every year. Say you earn Rs.8 lac per year and the income is responsible for taking care of your family’s financial requirement. Going by the financial logic you should at least have Rs.80 lac of life insurance cover to meet this requirement so that in case of your death the money that your family gets as a claim (Rs.80 lac) can at least put in a FD or something similar which gives them 8% interest( Rs.6.4 lac per year ) so that the same can take care of their financial needs. This is in fact the most important question one should try and answer.

2) What charges that you intend to pay?

  Life insurance plans have three types of options a) Pure term plan b) Unit linked plan and c) Traditional plan. Though in all the three options the policyholder get a insurance cover but when it has investment option like in case of Unit linked and Traditional plan you have to pay an extra cost. Term plans only insure that your family gets a sum assured when you are not there so you pay less premium for them but when we consider the case of ULIP or traditional plans since they insure a return on investment on maturity other than the sum assured post your death , the plans are always costly. While buying a life insurance you have should clear objective of protection and don’t try to mix protection with investment as there are much better options.

3) What is the tax benefits associated?

 A lot people buy life insurance plans only with the objective of availing tax benefits. All types of life insurance plans comes with tax benefits, the premium that you pay is considered under Section 80C whereas if there is money received at the end of the term, the money also becomes tax free under Section 10 ( 10D). Now the question is your life insurance buying objective is only tax savings then please try to re-consider your decisions. There are much cheaper options available. Though tax benefit is something normal but you should always have a clear objective of protection before you buy a life insurance plan.

Read More

GST Impact On Life Insurance Policy Premiums Holder

GST or goods and services tax as popularly known is one of the most important regulatory change which is happening in the indirect tax space post independence.Aimed at getting away with multilevel tax structure which has been prevalent for so many years and building a new institutional structure for indirect taxes making business easy with one nation and one tax concept .The new structure came into force after multilevel discussions among the various stakeholders by a bill passed in the Parliament on 8th Aug 2016 and with final date of implementation as 1st July 2017.So from 1st day of July things are going to change completely  from the perspective of incidence, structure and calculation of indirect taxes and which would lead to the complete refurbishment of the existing tax structure in India.


Understanding the incidence of GST on life insurance:

We all understand the importance of life insurance and why it is required.Going by the basic definition of life insurance it is very important for any person who is a single bread earner for his /her family. In case of his/her inability to support his/her family in future due to death or any other event , the life insurance policy can take care of the financial responsibility of his/her family.


Based upon the requirement life insurance plans are further divided into two major categories:

1)Term plans: It is actually a pure financial risk cover based policy . The proposer of the policy pays money for premium and in case the person dies, the sum assured is paid directly to the nominee of the policy which can cater his/her financial liability

2)Endowment plans and Ulip plans  : This are specific plans which is a combination of a term cover and investment plans. It not takes care of the financial liability of the proposer but in case the person doesn’t dies he/she can also enjoy the return on investment post completion of policy term.


Post GST, things are going to change for life insurance policyholders a lot . Pre-GST the service tax rate that was effective on life insurance plans was 15% but post 1st July the there would be a hike of 3% which would directly affect the overall premium cost.But don’t get confused because of the hike you should keep in mind that different type of plans attract a different type of tax structure. You should keep in mind that:

1)In some types of plan the tax incidence fall on the overall premium that you play

2)In some plans, the tax incidence don’t happen on the overall plan, you pay tax on only some of the premium.

3)Taxation also varies with the premium paying term that you have opted for. One time premium policies might attract a different taxation compared to policies in which you are paying premium in a yearly or quarterly or monthly mode throughout the term of the policy.

4)The other important thing is that taxes may also differ depending on the year of the term of the policy.

Knowing about Post GST effect:

To understand about the changes that is going to come post GST implementation see the table below :






Term Insurance Premium



On the entire premium amount




On the premium amount minus the investment amount

Health Insurance Premium



On the entire premium amount

Add-on Riders Premium



On the entire premium amount

Periodicity - Single Premium



On 10 percent of the total premium. It means that the previous 1.5 percent of the total premium would be hiked to 1.8 percent of the total premium as per the updated GST rates.

Endowment Plan Premium (First Year)



On 3.75 percent of the total premium

Endowment Plan Premium (Renewal)



On 1.875 percent of the total premium



We should remember that all these new tax rate and its applicability would be for both new policies and also old policy renewals. 

Read More
Read More