If you are looking for a term insurance plan, it is very likely you will bump across a variant "Return of Premium" (RoP). It is sometimes also called "Term Return of Premium" (TRoP) or Term Insurance with Maturity Benefit, or sometimes Premium Back Term Plan. Return of Premium Term Insurance is nothing but a term insurance plan but unlike pure term insurance, in this variant if you don't die during the entire term of the policy, then you get all your premiums back. But is it really as good as … [Read more...] about Return of Premium Term Insurance – Why it is not worth it
Welcome to the world of online term insurance plans in India. Finally, India has awaken to the need and importance of having a term insurance plan. Those who have adopted to the internet have been the forerunners in buying online term insurance plans. Instead of being sold an insurance plan that will neither serve our needs but only fattens the agent's pockets, term insurance is now being bought by customers directly. What can be better than this? Here’s a look at the … [Read more...] about Online Term Insurance Plans Premium Comparison
A lot of us are buying the term insurance policy online, but always have the fear of claim rejection in our minds. The worst is that if a claim was indeed to be and there is something amiss, we are no longer there to explain anything to the insurance company or our agent. So many of us wonder “How can I minimize the chances of my claim for a term insurance policy getting rejected?” In my view, there are 2 ways to do address that. Completeness of … [Read more...] about Term Insurance Policy – Buy Online and ensure your Claim is paid
You must have at some time or the other bought a product or service online. These days it could be any out of a movie ticket, a train or air ticket, a book, clothes and even groceries. Then why not insurance? - you may ask. Well, some of us are still not comfortable because even today, insurance, unlike any of the products/services I mentioned earlier, is largely a product which is sold and not bought. Here's why all that is changing now. Following are the myths about buying … [Read more...] about Online Insurance – 5 Myths About Buying in India
Term insurance by design is cheaper than all other kinds of insurance plans because it is a pure risk plan with no returns. Till about 5 years back, term insurance could be bought only through an intermediary (agent / bank/ corporate agent/ broker, etc.). However in 2009, Aegon Religare launched India's first online term plans. Today, there are more than 15 life insurance companies that offer online term plans of various types. There are 5 reasons why online term plans in India are cheaper … [Read more...] about Online Term Plans in India – Why are they so Cheap?
The most common annuity plan you will hear about is Immediate Annuity for Life with Return of Purchase Price. But what really does all that mean? Before you dive into making your choice, read what are the options and what suits you best. Because once you start an Annuity plan, it may be expensive or sometimes impossible to get out of it for the rest of your life! The Immediate Annuity Plans market in India is just taking flight. LIC has always been the first, but of late many private life … [Read more...] about What are the Types of Immediate Annuity Plans available in India?