Term Insurance Plans – 20 different policies compared with charts !

POSTED BY Jagoinvestor ON December 23, 2010 COMMENTS (1,865)

Which is the best term insurance plan in India ? Which Insurance company has the best claim settlement Ratio? Should you buy online or offline plans ? These are some of the questions which comes in the mind of every insurance buyer! .

So are you looking for Term Insurance comparison at one place ? Do you have all the sufficient information to decide which is the best term plan you can buy? Today I will show you all the data like riders, maximum/minimum tenure, max age till when these plans covers a person and data on the premium, Claim settlement Ratio at one place! .

Best Term Insurance plans in India – A comparison List

There are many term insurance plans in India, but all of them have different premiums and features which confuses a prospective customer to choose the best term plan for him. Below is a table which shows most of the policies name along with their premiums. But before that, make sure you fully understand what is a term insurance plan ? Better read the 9 most asked questions about Term Insurance before you move ahead.

Company Name Policy Name Mode Riders Available Premium
(1 crore SA)
Aegon Religare iTerm Online Yes 7,300
Bharti Axa e-Protect Online No 7,300
Aviva i-Life Online No 7,368
HDFC Life Click2Protect Online No 10600
Kotak e-Preffered Online No 10825
Edelweiss Tokio Life Protection Plan Online Yes 11,500
Metlife Met-Protect Online No 11,600
ING Vyasa My Term Insurance Offline NA 11,891
ICICI Prudential i-Care Online Yes 13000
DLF Pramerica U-Protect Online Yes 13,400
SBI life Smart Shield Offline Yes 16,798
Bajaj Allianz iSecure Online Yes 18400
Max NewYork Platinum Protect Offline Yes 23,500
IDBI Fedral Termassurance Online No 25,350
LIC Amulya Jeevan Offline No 33,600
Future Generali Smart Life Online No NA
Birla Sun Life Protector Plus Offline Yes NA
Tata Aig Maha Raksha NA NA NA
Reliance Term Insurance Offline NA NA
Canara HSBC Life Pure NA NA NA
India First AnyTime Plan Online NA NA
Sahara Life Insurance Kavach NA NA NA
Star-Union Dai-ichi Term Plan NA NA NA

Note : The premiums above are for 30 yrs old non-smoking male, and 30 yrs policy tenure. The premium quoted is for Rs 1 crore sum assured and does not include service tax. The premiums displayed were taken from respective life insurance companies websites and should be treated as indicative premiums.

Brief overview of Riders

Most of the term plans also allow riders along with their plans. Riders are nothing but additional benefits which you can take by paying some extra premium. Lets see some of the riders and what they mean. A term insurance plan might be offering some of the riders mentioned below.

AD (Accidental Death) : The policy pays you additional sum assured in case the death happens due to an accident . Note that even if you don’t take this rider, the sum assured is always paid on death, whether accidental or not !.

CI (Critical Illness) : This rider gives you a lump sum amount if you are diagnosed with an illness which is mentioned in the policy . Generally all the major illnesses are covered in Critical Illness cover.

DR (Accidental Disability Rider) : This rider covers you for disability and pays you Sum assured in 10 installments per year  incase you becomes temporary or permanent disabled person.

WP (Waiver of Premium) : This rider makes sure that incase you are not able to pay future premium due to disability or income loss, the future premiums are waived off , but your policy is still in force like always !

Claim settlement Ratio of Life Insurance Companies

While deciding on a term insurance plan, the biggest point which a person concentrates is the Claim settlement ratio (read this comment) . Claim Settlement ratio of a company tells you that how many policies were settled by paying back the claims in case of death. However note that these numbers are not for pure term plans, but for any kind of policies.

Solvency Ratio of a Life Insurance Company

Another small things to look in a life insurance company is Solvency Ratio. It indicates how solvent a company is, or how prepared it is to meet unforeseen exigencies. It is the extra capital that an insurance company is required to hold to meet all the claims which arise . In other words , Solvency margin refers to the excess amount of asset the insurance company has to maintain over its liabilities. Basically, it is the amount the insurer has to stash away in order to pay the claims during emergency. IRDA requires the insurance companies to maintain a particular level of solvency margin for their smooth functioning

Below is the Table and a Chart showing Claim Settlement Ratio and Solvency Ratio of all the insurance insurance company in India. The data is taken from 2011-2012 IRDA annual Report.

Company Name Claim Settlement Ratio (2011-12) Solvency Ratio
LIC 97.4% 1.54
ICICI Prudential 96.5% 3.27
HDFC Life 96.2% 1.72
SBI life 95.5% 2.04
Kotak 92.1% 2.67
Birla Sun Life 90.9% 2.89
Bajaj Allianz 90.6% 2.86
Max NewYork 89.8% 3.65
Aviva 89.6% 5.4
ING Vyasa 88.8% 3
Bharti Axa 87.7% 2.14
Star-Union Dai-ichi 86.2% 6.7
Reliance 84.6% 1.66
Tata Aig 83.9% 2.16
India First 82.2% 6.36
Metlife 81.4% 1.69
Canara HSBC 80.6% 3.07
Sahara Life Insurance 78.0% 4.82
Future Generali 68.1% 2.21
IDBI Fedral 67.5% 6.6
Aegon Religare 66.1% 3.22
DLF Pramerica 24.5% 2.53
Edelweiss Tokio 100% (Just 1 policy) NA

Claim settlement ratio of Life  insurance companies in india

Term Insurance – Online vs Offline

With online term insurance plans coming in market, two things has happened. First, Customers have really got excited seeing very low premiums which insure them at throw away prices, however low premiums does not appear on the top wish list of customers and what everyone needs is very high claim settlement ratio and excellent customer service. This is where online term policies have disappointed customers, there has been huge disappointment from ICICI iCare and Aegon Religare iTerm Plan in terms of customer service. There have been cases where customers bought an online policy and after that, they had horrifying experiences starting from increase of premium once they bought it, No-response from the company for long duration and Long & frustrating delays in medical tests. This is what pisses off customers most and they get a feel that If situation is bad at the time of buying the policy, then what will be the response when their families for claim settlement .

Another important point which comes to a persons mind is Are private Insurance companies safe ? and what is the claim settlement ratio of the company. From last year IRDA report, we came to know that Aegon Religare did not settle even a single claim out of total 7-8 claims they got . However, this years IRDA report (2009-2010) shows that its better at 48% settlement ratio for Aegon Religare, but Life Insurance is not a maths exam where 90-91% marks will make people happy. We all need 100% or 99% at least !. Because most of the companies are very new, the trust factor is missing from public. Note that not everyone who bought term insurance policies had bad experience, there are many buyers who got very good response and good customer service, but it was a smaller section .

So if you a kind of buyer who understand Insurance very well and how things work in this area and you also have trust in online term plans then you can go for online plans. But if you are not comfortable with it, then you should try the old way of buying insurance through an agent. However it would cost more than online plan, which many are comfortable with! .

If you concentrate on the claim settlement and trust factor then the only option is LIC of India Term Insurance (Jeevan Amulya). However if you are fine with the pvt Insurance, but still want the best features, I personally see Kotak-preferred Plan as a good option. The premium for Kotak-preferred is the lowest in the offline term plans and this plan has good riders along with other good options.

Term insurance plan from LIC is obviously the best option if you do not believe in the pvt companies and insist on high claim ratio, but premium for LIC term policy is too high . So I think you can consider a mix of the LIC term insurance and any one from Pvt insurer. Soon you will also see LIC online term plan

Special Features in Some Term Insurance Policies

There are some policies with very different set of features. Lets have a look at some of the those. These features can help you further in your decision.Term Insurance policy features

Which online term plan do you have currently and incase you planning to have one, which one those the above will you buy ? Will it be LIC Term Insurance or some one else and why ? Also share, If you need any other factor before choosing the term plan ?

1,865 replies on this article “Term Insurance Plans – 20 different policies compared with charts !”

  1. Divyesh Kuntar says:

    I want to buy best term plan in which included both death benefit (natural and accidental) and also cover parmenant total disability benefits. Pl. give guidance.

    1. Hi Divyesh Kuntar

      I can see that you are thinking of buying a term plan. ALl you need to do is leave your details at https://www.jagoinvestor.com/pro

      Our team will get in touch with you


  2. Priya says:

    I have taken Icici Icare plan and paying for the past 3 years – Rs 40 Lakhs. I missed paying 1 year premium, Now i wish to increase the sum insured to 1 cr. I would like to know , which is better.

    i)continue the same plan with penalities and increase amount in same plan
    ii)continue the same plan with penalities and take another insurance from different company for the difference amount
    iii)Completely move to a different plan for the full amount.

    Please help

    1. I would suggest you continue with the same plan

      1. Priya says:

        Thank you . Should i increase the sum assured in same plan or go to another company for the difference amount. If later, please suggest a better plan.

        1. Well, its more of a choice question rather than right or wrong thing . You might want to take a new plan now as the premiums have come down a lot. I would be happy to have my team call you and guide you in choosing the best option right now with lowest option.

          Just fill in this http://www.jagoinvestor.com/pro#schedule-call (No charges)


  3. SiddharthaMohanty says:

    I am 39.I am on the process of buying ICICI I protect smart term insurance of50 lakh SA and for a term of 36 years..through ICICI bank as I am a bank customer..But they waived the medical test..and are on the verge of issuing the policy..I insisted the verifying party from ICICI Pru for meditation,but they declined…I am fearful, doubtful on any future claim success…Kindly suggest or advise…

    1. Rachna says:

      @ siddharthamohanty I bought an aegon life insurance 7 years ago when they were pretty new.. look at them today! They offer the most lowest premium with the highest sum assured and with best features..their claim radio has also improved drastically and is competitive with other companies. I’m so impressed with their performance that I have become a part of their online team. You should see what benefits your term plan offers rather than just going with it because it’s your personal bank.

      1. Can you share a bit about “I have become a part of their online team” , how did that happen ?

  4. Niraj says:

    Dear Manish, when you buy riders with HDFC Click2protect plus term insurance, does the rider premium increases after some years or it remains the same throughout the life of policy?

  5. Mathew says:

    Being an expert in the industry, I would like to clarify the following
    point with you :-

    I have taken a term policy from Max Life recently for Rs.50 Lakhs.
    My diabetic history was disclosed in the proposal. Though the
    medical reports were normal, life insurance company charged me
    50% extra premium based on my health declaration.

    I have 4 personal accident policies and 2 mediclaim policies in my
    name which I mentioned on my proposal form. How ever, I forgot
    to give the details of 2 term polices which were lapsed in 2013.

    Actually, those term polices were taken in 2012 but I discontinued
    them due to the over charging of premium (on my health ground).
    And I don’t have those policy details also. So I could not give the
    details of those policies on proposal form.

    Also I didn’t mentioned in the proposal form that I had been charged
    with extra premium by other insurance companies earlier. However,
    details of all current (existing) policies were given on the proposal.

    In your expertise, should I ignore my new term policy and go for a
    new term insurance plan to avoid any complications due to
    concealment of fact and insurability.? Will my nominee face any
    problem in case of a claim, since I didn’t mentioned the details of
    expired policies.? Will this issue be treated as a very serious offense
    even after paying the premium for 3 years.?

    Please revert.


    Mathew K

    1. I dont think you have concealed anything here. Generally you need to give your active insurance policy details. If your term plans have already expired or if you discarded them, then its ok ! . just continue this

  6. Vikram says:

    Hi Sir, Based on low premium, claim settlement ration, solvency ratio I am planning to buy Max Life Term Plan.
    1. Please let me know is it good company ? Shall I go ahead.
    2. In future if Max Life merges with HDFC, will it be a disadvantage for Max Life policy holders ?

    1. Hi Vikram

      There is no issue and already MAX is now merged with HDFC. HDFC is a good company and we have dedicated team at HDFC helping us. Just fill up this form if you need my team to have a call scheduled


  7. Deepak says:

    Hi Manish,

    I follow your blog and also like your writing style which I feel even small kids can understand.
    Im 36, looking for 1 crore term plan till my 70 years.
    Im looking for moderate premium(not high) with good claim settlement ratio & solvency ratio.
    After some ground work, I have arrived at final these 4 – MaxLife, PNB MetLife, Kotak & Aviva.
    I am confused which one to select among these.
    Kindly suggest me any one out of these 4 companies.
    Also let me know if any flaws you find in these companies.
    Thanks in advance.

    Deepak. K

    1. You can look at any option actually, if you are providing all correct details . Why dont you try HDFC , its one of the best in the market and we recommend that one. We have actually met their team and they have setup a separate team to handle our readers.

      Why dont you just leave your details and we will setup a call for you with them. Check them out atleast and then decide.

      However even other companies like Aviva or Maxlife are good . Now Maxlife is anyways going to be merged with HDFC http://economictimes.indiatimes.com/markets/stocks/news/merger-with-max-life-to-facilitate-automatic-listing-of-hdfc-life/articleshow/52795023.cms

      Leave your details here – https://www.jagoinvestor.com/solutions/buy-health-insurance-policy


      1. Deepak says:

        Thanks for your quick response Manish. HDFC is bit costly 17k+ where as all these are 12k to 13k hence, i did not consider HDFC.

        1. Ok , if thats the case, then better settle through other insurers. We can still connect you to our trusted partner who will help you on selecting the best option among these. Let us know if you want us to connect you ? You get various companies options and pick one of them . The truster partner also gives support if there is any issue with the company at the time of medicals and other things .


          1. Deepak says:

            Thanks Manish, I need some time. I will get back to you soon.

  8. Sandeep says:

    Hi, I have online term plan from Aegon. As you mentioned, I also faced issues with Aegon customer care like unable to get customer care no., frequent disconnect even if connected to customer care no, no reply to email.. etc. (which is more frustrating . If this is the case now, in case of unfortunate, what is guarantee that they will support dependent..claim settlement ratio clearly indicating the same)

    Insurance portability: is it also applicable for term plan? if yes, please share more details. I would prefer to shift to other provider, probably LIC.

    1. There is nothing like term plan portability right now !

  9. Surya says:


    I am looking for ismart term plan from ICICI & LIC E term plan coverage of 25 lakhs. my age is 26. LIC covers 35 & ICICI 40 yrs. Premium both are 5200 per year. which policy you are suggesting me. which i can trust without any risk in claims & better service.

    1. Hi Surya

      I can see that you are thinking of buying a term plan. ALl you need to do is leave your details at https://www.jagoinvestor.com/solutions/buy-life-insurance-plan

      Our team will get in touch with you


  10. Praveen says:

    What are the disadvantages of icici I cure smart protect term insurance plan?
    Does riders are required as add on for term insurance plan. If so, minimum how many add ons must available.

    1. There is no requirement for addon’s to be added in term plan, its purely optional.

  11. Bhushan says:

    Hi Manish,

    I want to buy 1 crore term insurance plan. After My research I have 2 option, But I am confuse could you help me
    1) Max life insurance:- 1 crore + 40000 p.m. for 10 years for my family all this benefit they provide in 15,ooo p.a.
    2) Hdfc:- 1crore insurance they provide in 13200 p.a.

    Should I go with Max Life Insurance . Their claim settlement ratio also good last 5 years(Between 91% to 96%).
    What about company?

    1. So is HDFC claim settlement very good.

      I suggest go with HDFC

  12. UpasanaKoul says:

    Hi Manish,

    Thanks for sharing details, I have read your book from where I got to know about Term insurance Plan.
    I need a suggestion here-
    after doing some study , i am considering HDFC or ICICI , but now i am confused which one to go for..
    background: I am 28, don’t have any life insurance, but my employer has some good polices – like paying upto 60K to 1 lakh per month in case anything happens to me. But since i cannot be dependent on my employer all the time as I might need to change job in future and that time i might be 30+, so i thought to better go for term insurance..
    Kindly recommend which one shall i consider.


    1. Yes, you can take up a seperate term plan. We suggest you go for a HDFC term plan . We have a special tie up for that, just fill you details here – https://www.jagoinvestor.com/services/life-insurance

  13. Pankaj says:

    I need to buy INR 50,00,000/- term plan with Permenent Accidental Dissability rider. I searched on Policy Bazar & found PNB metlife & HDFC life options only. Kindly inform me which is the better among these two?
    My basic details, Male, 30 years (09/11/1985), No tobacco nor alcohol. I am looking for 30years term duration.

    Also kindly inform if any other is recommended. Thank you in advance for your help.

    1. Hi Pankaj

      HDFC life is one good option. We anyways recommend that to all our clients.

      If you want, we can connect you to HDFC with whom we have special tie up for our Jagoinvestor readers.


  14. Ravikumar says:

    Hi Manish,

    I am planning to buy HDFC I protect and LIC E term policies. Do I need to inform them individually ? If I miss to mentioned previous term policy details , will it cause any issues when actual claim settlement time. Kindly confirm.


    1. Ravikumar says:

      Reason, I choose is that one is Semi GOVT and other one Private.. I have plan for take 1 cr. So split into 2 term policies. If any insurer rejct claim other can approve. Just for safer side.. Is that good choice?

    2. YEs, you need to inform each of them about the policies which you are buying in parallel. Mention all insurance policy taken in past, else it might be an issue at the time of claims !

  15. Mahesh says:

    Hi Manish,
    I am male, non smoker 34 years old , want a Term plan. I searched, Edelweiss Tokio giving 2 Cr term plan for 46 years (upto my 80 years) with Totally and Permanently Disable (TPD) of 1 Cr upto my 70 years at Rs. 30K. But its claim ration is very low (between 55-60%). Is it good term plan or suggest me other maximum long term plan with TPD at low premium.

    1. You can always go with any term plan now – read this

  16. Sam says:

    Hello Sir,

    My annual income is 9 lakh and I am 31 years old. I am looking for Term Policy for 1 crore for tenure 34 years. I am bit confused for final finalization among 3 online policy
    1) HDFC Click 2 Protect
    2) Kotak e Term
    2) Aviva I Term

    If go for claim settlement ration then HDFC, if i go for solvency ration then Kotak. I f i go for premium then Aviva.

    Request your guidance to choose among it.

    1. Hi Sam

      You dont have to worry on all this now . Check https://www.jagoinvestor.com/2015/12/no-claim-rejection-in-life-insurance-policy-after-3-yrs.html

      ALso , we have special tie up with HDFC on term plans. Do let us know if you want us to connect you with them?


  17. binod says:

    I have a query regarding cover provided by term insurance outside india. When I checked with icici ismart term plan, they said if you stay outside for more than 6 months then it will not cover. Then I checked with sbi eshield term plan they said that this it is universal term plan and it will provide cover even outside india without any condition. but i didn’t find this details anywhere mentioned in their policy document or brochure of sbi eshield term plan.
    when I asked this thing to sbi eshield they said you cannot find this details online when you take the policy then in the policy bond paper everything will be mentioned there.

    I am an Indian resident but my concern is what when I travel outside for more than 1 or 2 yrs . Does policy cover this type of things ?.

    Could you help me about this.

    1. Hi Binod

      When you take the policy it asks if you have plans to go out of india, you will have to mention YES for that, it might happen that it increases your premium.


      1. binod says:

        Thanks manish for quick response. But how do i know before taking the policy that they are going to cover 6months or 1 yrs ?

  18. Sangan says:


    My annual income is 10 lakh and I am 34 years old, I am eligible for 20 times of my annual income which is 2 crore. I want your advice on should I buy 2 crore policy from one company or should buy 1 crore each from two different companies. Please suggest.

    1. You can buy it from a single company. Now a days 1-2 crores is not a big cover. We have special tie up with HDFC for term insurance, if you are interested , please fill in https://www.jagoinvestor.com/services/life-insurance

  19. Vijay says:

    Dear Manish

    I’m 38 year old ,and want to buy term plan,
    Kindly suggest me suitable online and off line term plan of 1 cr for non smoking catagory .
    Though i’m late , but better late then never.
    Kindly help.


    1. Hi Vijay

      We suggest HDFC term plan . You can get it online. We have special tie up with HDFC from our end. Please fill up form below to get our help on this


  20. jegan says:


    I am NRI now and getting salary in USA.In term insurance,they are asking for Salary right, So should i give my USA salary converted into INR ? or i should give my Old Indian salary which i was getting while i was india ?

    Why i am asking this is : In USA salary – if you convert it will be 30 lak + , So we can get Extra sum assured right ? But later on after 2 years if i come back to india,my salary will be less…

    So how the sum assured will be taken care ?

    1. Vinay says:

      Kindly show your current salary status.

    2. You will have to give your current salary only . Give your US salary !

  21. Sivakumar says:


    Is there any Minimum Salary requirements for Term Insurance ? Also if the job matters ?

    My uncle is 45 years old Male and i work as a Driver in Tamilnadu Government Transport and my salary is only 13000.I dont pay tax and i dont have PAN Card.

    But all the Term isurance companies are asking for PAn card and Form 16 or IT returns.So people like my uncle who is DRIVER with less salary cant go for Term insurance ?

    1. He can take it , but he cant take a very high amount. Because ultimately there is an amount which is linked to your earning capacity. How much cover is he applying for ?

      1. Sivakumar says:


        He is trying to apply for 50 Laks. But his annual income is 2 lakh. Is there any thumb rule like 10 times of annual salary only be maximum summ assured for 45 and above age ?

        Can you please write a article on the Maximum coverage allowed based on profession , Age , Annual Salary for both Personal Accidental insurance & Term Insurance ?

        And also,he is not paying any income tax. But almost all companies asking Pan card right ? So without Pan card we cant take Term insurance or Personnal Accident Insurance?

        1. I think he will have tough time in getting term cover.

          The reason is

          1. The max sum assured is linked to your earning capacity, and the formula is not a standard one. But its around 10-15x . SO that way 50 lacs cant be taken by him

          2. Mostly term plans are giving to those who are atleast earning a decent amount. In insurance company language it can be atleast 30-35k per month.

          Your uncle might want to try LIC term plan offline which allows amounts like 20-25 lacs also .

          1. Sivakumar says:

            Thanks Manish,

            Yes.Mainly we are looking for Accident cover since his job is like that.Thats why i am planning to take Personnal Accident Insurance like below.Could you please put your view on this ?

            1.SBI has Group Personal Accident insurance for Savings account holders which covers 20 lak Accidental cover for 1000 Rs. This is not having any Salary,Age,Profession restriction right ? Anyone can take this right?

            2.Additionally i am planning to take SBI INDIVIDUAL Personnal Accident Insurance or Bajaj Allianz Personnel Accident Insurance for 20 Lak or 15 lak.

            Can you please advise ? Considering we need only Accidental Death coverage protection for a Driver @ age of 45. ?

            1. 1. Yes, its a good alternative . But note that its an accidental cover. So if death is due to accident only then family gets the money. Or if he is disabled for any reason , then also its helpful

              2. YEs, try for that

  22. JEGAN says:


    I am 30 year old,Non-Smoker NRI and outside India now. Whether we can take HDFC Click2Protect from outside india for NRI ? When i had a chat with them,they said YES.So i purchased the policy and paid premium.I have attached the PAN Card(id proof),Passport(address proof), My USA salary slip(for Income proof) and Photo in their site itself before making payment,in the document attachment section.I took for 1 Crore. My question is : If they approve the policy without Medical Test – Am i fine with that ? Bcoz while filling i answered for the question Are you NRI – Yes.So i have declared everything correct right ? Or any SPECIFIC Madate is there that NRI can buy Term insurance only when he comes for Visit to India ?

    1. As far as I am aware, NRI can take the policy from HDFC and incase there are medicals, it needs to be done when you are in India

  23. Pavan says:

    Your comparison doesn’t have PNB met life’s- mera term plan. This plan covers Spouse too partially. I am about to take HDFC click2protect or PNB met life with riders. What do you recommend out of these 2.
    Please email me

    1. I recommend HDFC Click2Protect only .

  24. Vishal says:

    Hi Sir

    Always read your articles which are very informative and knowledge based. And in fact have started involving in money matters after reading all articles on jagoinvestor

    Sir I have taken a term insurance two days back and have disclosed all what was there in proposal form

    In fact in medical history I have myself disclosed that I had typhoid in 2000 and a surgery for deviated nasal septum in 2002
    Rest I hv never been ill

    Does that affect the policy in some case,..was it a good decision to disclose or could have concealed it
    Because still sometimes there is a fear of companies not honouring claims unduly ????
    Thank you

    1. Dont to worry. Its good that you have disclosed the details. Now onwards companies cant deny the claim if its 3 yrs old (a new rule) . I will write on it very soon


    2. vishal says:

      thank you sir

      but while disclosing all my covers during term insurance filing i forgot to tell about pradhanmantri bima suraksha yojna. does it affect during claim , or should i request the company to include that. my policy has been issued just now.
      thanking you

  25. jayesh says:

    Sir, If there is Permanent Disability rider available with LIC’s Online Term (E-Term) Insurance. Please Help. Because I only have to take insurance from LIC

    1. No , there is no rider with LIC e-term plan

  26. raghuveerp says:

    I am planning to immigrate overseas in the coming 6-8 months. In his scenario, would it be wise to take a term insurance now and will the cover be extended even after immigration.

    1. Yes, it would be covered ,However there will be a question in form that are you planning to go abroad in next 1 yr, in that case you will have to answer it yes.

  27. suresh says:

    I want take pnb metlife term plan l want ask which plan is better for me

    1. You can surely go with it ! ..

  28. Amit Tygai says:

    I want to buy a term insurance poicy from LIC but premium is very high. Plz let me know should i go with LIC or with private company.


  29. RAMJI says:


    1. Yes you can go for it

  30. shekhar says:

    plz help me to select a suitable term plan with low premium but best features.

    1. You might want to fill up the form here https://www.jagoinvestor.com/services/life-insurance and we can help you with term plans

  31. shekhar says:

    tell me best and cheap tem plan

    1. HDFC Term plan is a good option you can take

  32. Ajay says:

    What about PNB MetLIFE is it comparable with KOTAK or not? Premium is cheaper by 7.5% than KOTAK on online term insurance for a 43year male for 32years tenure.

    1. Yes, you can go with it . No issues

  33. suresh says:

    two years back i have taken edelweiss term insurance for Rs.50 Lakhs with 10 years with 2 riders. Now i am much get confused whether i want to continue in that ins. or go for HDFC click. i request give answer immediately. my DOB 1.10.63

    1. If you are saving on premium . I would say change it , check this https://www.jagoinvestor.com/services/life-insurance

  34. Kunal says:

    Hi Manish,

    Do you think Reliance is a good company to go with ?

    Confused Between Reliance, Max Life

    Please let me know

    1. I am personally not comfortable with reliance for life insurance, but then same is with MAx life also . Why dont you go for other brands like HDFC, Bharti Axa, Kotak etc?

  35. aadesh gupta says:

    hello, as i m willing to buy best term plan among, 5000000 sum assured, with lowest premium, clame settelement ratio should be good.

    1. You can go with any company, just make sure you fill form properly

  36. Chirag says:

    Hi Manish,

    I am 22 years old and new to this investment/finance stuffs.I have read your articles on term policy. But i am confused which one to buy and what should be the amount? Also will i get the maturity benefit?

    1. Chirag

      term policies dont have maturity benefits. Its for protection, not investments

      1. Sugandh says:

        Dear Manish,
        I agree with you.
        Please write more on this point to make people aware of the basic fact:
        Investment and Insurance should not be mixed.

        1. Glad to know that Sugandh ..

  37. Gaurav Malik says:

    Hi Manish,

    I purchased Kotak Preferred Term Plan 2 years back ( 1.5 Cr) for a premium of 46293 ( 27400+ 13800 for Critical Illness of 20 Lakhs). While I have been late in checking online the same policy is available for ( 17500+13800). Do advice what needs to be done. I am well aware that if I start fresh my old policy lapses which is due in October and I loose the premium for the past 2 years. What would you advice. I would also like to take a Term Insurance for my wife 32 years for 50 Lakhs. Do you suggest offline or online?

    Thanks & Regards

    1. You can take it offline or online, it does not matter much . Just make sure you furnish all the proper information !

  38. Hitesh says:

    Hi All,

    I am an Indian National currently working in Lilongwe, Malawi (overseas). My age is 40 years and would like to have term insurance coverage. If anyone know – which companies will cover these and which are reliable companies.

    1. Hitesh

      You might get it from HDFC ..

  39. Ganesh says:

    Hi Manish,
    Greetings for the day.
    I am searching for a term plan and came across this site which has very crucial things to be taken care. Thanks for that!
    I have one query:
    I am searching for a term plan with riders “DR” and “CI”. But not able to find one yet. Could you please suggest me an offline/online plan which can cover this?
    Thanks in advance.

    Best regards,

    1. Its very tough, because very less companies in online term plan provide it. I guess kotak has it !

  40. VirendraKumarPal says:

    Hi. This is Virendra. I am looking for a term plan with option for waiver of premium in case of permanent disability. I have chosen Kotak Preferred ETerm Plan, which has this option, and which has more than 90% Claim Settlement Ratio in FY 2013-14. Kindly suggest whether it is good as other options like ICICI iProtect, HDFC Click 2 Protect, SBI eshield, Max Life Insurance, etc. don’t have this option, which I think is must while taking term insurance. I have heard a lot about HDFC plan, but it doesn’t have waiver of premium in case of Permanent Disability.

    Also, whether i should take 2 policies of 50 lakhs each or only 1 policy of 1 crore, and if 2 policies, then from same company or two different companies.

    Thanks and regards

    1. You can go with Kotak itself and just go with 1 policy only

  41. Sanjeev says:

    Hi Manish,

    I am 39 and want to buy online term plan for 20 Years but confused whether i should take simple term plan or should i opt for riders and also guide that how to decide that which rider is more beneficial?

    I also want to take two online term plans of Rs. 25 Lakh each from HDFC & Max Life instead of a single term of Rs. 50 Lakh. Please guide me on this.


    1. Hi Sanjeev

      You can go with just a single company because 50 lacs is not a very big amount to divide and even premium wise you will benefit .

  42. madhulika says:

    Hi Manish,

    I want to take term plan for my husband with my baby and myself as nominee.
    My husband is 32 years old . i have a doubt that an agent is pursuing us to utilize maximum..that means if my husband is entitled for term plan of 2 crores should i take 2 crores or should i go for 1 crore only that we had earlier decided and have a different mode of saving. will it be right to invest so heavily .Kindly guide.


    1. Take only what is required. If 1 crore is enough , then just go for 1 crore

  43. Rama says:

    Hi Manish,
    First of all thanks very much for writing so many articles on financial planning. Your articles are very helpful and increase awareness about financial planning.

    I have a question on term insurance.

    Is it better to split your term insurance between more than 1 company or go with only 1 company? If want a term cover for 1.5 crore, do you suggest going with 75 lakhs cover from 2 different companies? What are advantages/disadvantages by going with split?

    1. Hi Rama

      You can go with just one company right now


  44. Pankaj says:

    Hi manish,

    I was looking for term insurance 50 lacs from HDFC.
    Age 36, Smoker, drinker, No medical history.

    I have one doubt, if suppose I take policy today, but after 5 years, I get diabetes or some other critical life threatning disease, will my premium increase ? Do I will have to inform the company? How to handle the situatioon then ?


    1. No , you dont have to inform anyone in future !

  45. mux says:

    Hi Manish

    i wanted to buy online term insurance for Rs 1 cr. Kindly suggest a couple of names. i already have a policy of Rs 50lac from sbilife. i want to buy another preferably from a different one. (please do not give an ambivalent answer. We really-2 believe in you.)

    The only critirea is an ethical company who will pay back when the need arises.

    1. I think you can go with HDFC click2protect plan . You can just go here and leave your details – https://www.jagoinvestor.com/services/life-insurance

  46. Naren says:

    I am 44 years State Govt Servant getting annual package of 8-00 lakh and non-smoker. I intend to have one 15 years basic term insurance plan of sum assured Rs. 75 lakh. The premium offered by Max Life is Rs 12750/- and that by LIC Rs. 24400/-(online). Others are offering in between. Max Life, LIC and some others are suitable as per the brochure. I can’t decide which one to select. Max is offering lowest premium but I don’t know if they shut their business or get bankrupt in some years, what can I do or what steps can be taken. Alternatively LIC is Govt controlled but I don’t know if LIC will be fully privatised by Govt in near future. You have given lots of information but I need trust rating in terms of the criteria mentioned above before selection.

    1. Truly speaking all are good, Companies cant just disappear like that. However you can look at options like HDFC, Aviva , ICICI etc .


  47. deepesh_150 says:

    Hello Manish

    Must say its d best article for Beginners like me..
    Learned a Lot..!


  48. Giri says:

    Thank you Manish for this write up. Thank you all for sharing your experiences and information through comments, this is a immense learning experience.I realize it been a few year since this was written but glad that I came across this blog and the information lives on.

    I am 35 and based on the current expenses, I decided for a 1 Cr cover with 50L each in HDFC Click2Protect and Religare iTerm policies.

    I am yet to initiate the Religare iTerm policy request and is waiting for the IRDA latest Annual report to understand, if they have improved on their Claim settlement Ratio/Death settlement Ratio (which probably is in and around 85% based on their website). This by far was the best policy to me which had additional riders to choose.

    I applied for HDFC Click2Protect policy and is awaiting the policy document. The experience so far has been smooth. Apart from the other factors that is discussed in the blog, the following were the additional factors which led me to choose the HDFC term policy. First, this allowed me to choose a monthly premium (I had to pay 3 months premium as advance and set up the ECS Mandate), second they had a “limited” option (the policy term is for 25 years , till the age of 60, but I will need to pay the premium only till 20 year, when I am 55 ).

    1. Great .. thanks for sharing your choices ! . You have made the right choice !

  49. Amit Kulkarni says:

    Manish Ji,
    I want to take a term plan from Edelwiss Tokio till next 44 years with a premium Rs 7575/-. As compare to CSR near to 45 % I want to take 25-50 lacs cover from another company till my age to 60. If we give correct information for each and every point why we fear for less CSR. So request you to please guide me for Edeilweiss Tokio and to take the Insurance from another company also alongwith ET

    1. Amit Kulkarni says:

      Manish ji reply pleaze

    2. Yes you are correct, you can now go with HDFC also for the extra sum assured !

  50. Sai Tushar says:

    Hi Manish,

    Excellent article with deep down analysis.

    How do a customer decide on the Amount Term Cover to buy? 50 Lacs or 75 Lacs or 1Cr. The online space is filled with ads to get quotes for 1cr for Rs. 600 or 25 Rs. per day etc..

    Please share your valuable feedback and suggestions on the same.

    Thanks, Sai Tushar

  51. Vignesh says:

    Hi Manish,

    I am 25. Currently, out of Country for a period of 10 months. I am planning to take a Term insurance as I don’t have one. Few of my friends and colleagues got ULIP plans from HDFC. Shall I go with ULIP or Term insurance.

    Say if I need a SA of 50Lakhs?

    Which will be wise option.


    1. You should not take ULIP , better go for a term plan itself .. I think you will have to do medicals in India to get term plan . We have helped some of the NRI’s to buy the term plan without having to come to India through HDFC , let me know if you need professional help on this with a fee – http://www.jagoinvestor.com/services/life-insurance

  52. S Singh says:

    Hi Manish

    Between HDFC & Kotak, which is better to take?I have taken from HDFC for my wife. Now I am looking for myself.

    Premium for Kotak Preferred e-Term Plan is much cheaper than HDFC Click to protect plus. Please advise.

    1. You can take Kotak or HDFC, depends on your comfort level . I cant be biased on this , even though we deal with HDFC .

      You can take Kotak if you are comfortable with that.

  53. hi manish
    i would like to puchase a term plan policy of Rs 50 lakhs.kindly guide me with which company should i go so that even case of death, there is first claim settlement.
    i am going first time with such policy and i am travelling a lot.kindly guide me on the same and what would be premium per annum.

    1. Hi Naveen

      HDFC Click2Protect is a good option .. We can help you in that !


  54. Buchaiah says:

    Hi Manish,

    I am planning for a term insurance and I am aged 37 years. The chart in the discussion is dated 2010/12. Do you have any info. on the latest data from the insurance companies ? Also you suggested for Kotak/LIC, is this the same even now or are there any better options ?


    1. I just replied you on this

  55. Prakash N says:

    Dear Manish,

    I am 32 and looking for a term plan before getting married. I wanted to go for term plan with maximum term such as 75 or 80. I like Aegon for that only problem is the claims ratio is very low.

    Also I came across the link below in Mintwise.com which say why you should take only up to retirement age.


    please advise me what i should do – should i take full term possible or only till 60 years?

    1. You can take it only upto 60 yrs not more than that !

  56. srinath says:


    I am Srinath from Hyderabad and am about 28 and single and i want to save 1500 to 2000 monthly.
    So please help and suggest me to choose the right policy which gives me the assured returns at least what i have invested and high returns for my investments.
    Please help me which policy is best for the Life insurance for me.
    Please help me in this.

    1. You should go for a term plan if your dependents need financial security !

  57. Pratik Raulji says:

    Pls. d not by egon religare policy.They strictly follow the Medical reports & which will not meet requirement of 80% indians

    1. Can you share the full case Pratik ?

  58. Sanjay Patel says:

    At present , what is best term plan for upto75 years plan as 1965 birth year

    1. HDFC Click2Protect is a good option .. Do you need assistance in buying that ?

      1. Sanjay Patel says:

        May I go for TATA AIA as the permium online is @36000/-PA
        My age is 49 Years and will be Valid upto 80Years of my age ie. for 31 years.
        What to do sir ?

        1. I would say No for that, take the term plan only till 60 yrs , not beyond that .

          Dont you want HDFC Click2protect ?

        2. Hi Sanjay

          Why dont you go for other companies ? Mail me so that I can suggest you right policies ?


          1. SANJAY PATEL says:

            Hon’ble sir,
            why it is not preferable TATA for 80 yrs. also it makes much difference in premium by online purchse of term insurance for 1 crore.
            56000/- & 34000/-
            ie difference of 2Rs. 22000/-every year premium.
            What shall I do sir.

            1. There is nothing wrong as such . Just that you have better option with more lesser premium . Thats all !

  59. rajneesh says:

    Don’t go for any insurance products from Tata AIA. My father who has a poor eyesight was sold an insurance policy that he never wanted. He wanted a single term payment policy for a sum of Rupees Two lakhs and the agent from India Infoline who was selling on behalf of Tata AIG now Tata AIA sold a policy for fifteen years payment of Rupees two lakhs every year just because he could not read. Now when he asked for the policy to be returned they are ready to give only the surrender value….what to do. My father is really sad over this attitude of TATA AIA.

    1. How did he buy the product when he was clear that he didnt wanted it ?

  60. Richa Pandey says:

    I am 24 year old female (non smoker) want to know about the yearly premium of offline Kotak life health insurance and term insurance policy. And also i want to know whether it covers me in abroad like Israel, Belgium and Italy.

    1. Yes, they will be covering you , but incase of any issues, your hospitalization has to be in India only. I am mailing you regarding that .


  61. Richa Pandey says:

    I am want to know what will be the yearly premium for a offline Kotak life Health insurance and Term insurance policy of Rs.2500000. I also want to know whether this will be cover abroad like Israel, Italy and Belgium.

  62. K C Rana says:

    Hi Manish,

    For 1cr term insurance for 30yrs I have shortlisted the below plans:

    Max Life:
    1. Basic Life Cover Plan –> 7100 rs

    2. Life Cover + Monthly Income Plan(40k for 10 yrs) –> 9700 rs
    Total Protection Value:1,48,00,000

    3. Life Cover + Increasing Monthly Income Plan(40k,44k..76k for 10 yrs ) –>
    10600 rs
    Total protection value: 1,69,60,000


    1. Basic Life Cover Plan –> 7965 rs

    Could you please suggest any one of the above plans.

    K C Rana

    1. You can go with Aviva, not an issue . However I would recommend HDFC Click2Protect

  63. Pankaj says:


    I have a querry.
    Suppose, if I have disablity rider of 10 lacs with my term insurance policy of 30 lacs SA.
    Then in case I am accidently disabled(one leg permanently gone). Then i would be eligible for 30+10 lacs or only 10 lacs.

    Thanks and Regards

  64. ASHISH VYAS says:

    Hi Manish,

    I am 33 yr old. I want a term insurance plan for 1 carore for 30 yr. I have selected Birla sunlife and HDFC click to Protect. I want to know which one is better for me and why.

    Ashish Vyas

  65. Pankaj says:


    This is a really great work.
    I read almost 40% of the post in this thread (2010 – 2014), and cleared lot of my confusions and doubts
    Great thanks to all of you.

    I am also looking for term insurance.
    Right now I don’t have any question, but I will certainly post if required.


    1. Thanks for reading Pankaj !

  66. swaroop says:

    Hi manish,

    i am 28, looking forward to take a term plan for 50 lakhs. i ahd a comparision prefred with max life and hdfc click to protect.

    premium for max – 4600
    hdfc is around 6.2 k.

    Any comparision or better reason i should go with HDFC. As i dont see anything mention regarding max life in your article.

    please do sugeest.

    Thanks in advance

    1. You can go with any .. just make sure your info is correct . I would personally go with HDFC

  67. neelesh says:

    HI Manish,

    Really appreciate you have taken in bringing this article . I am planning to buy online term plan of 1Cr. I already have crisis cover for 10Lc and 15lc SA for my wife and my self respectively. along with it I have money back for me and my wife. What riders do you suggest to take/ consider while purchasing term plan in my case.

    1. Riders can never be choosen by someone else. Its only you who can decide what you want ..

  68. Rajeswaran says:

    Just came across this stumbling site… Appreciate it..

    I was narrowing down taking the term insurance for 1 cr. I was supposed to take HDFC standard. Then came across Maxlife and felt they were better(lower than HDFC, faster settlements within 10 days else 6% from then on, relationship managers, monthly funds till 10yrs)… Then i came to across AR which has the longest tenure EXTRA +10 yrs – unti l75 which NO others give. Just wanted to know the reason AR gives and NO one else gives. When asked AR, they simply say Competition which even others have it.In mouthshut, AR is highest and Max is only 2 starts with HDFC the least points and not preferred and a cheating company (thought it was better)…. So just confused on different options and opinions and reliability these 3 companies have… Any chances or suggestions you have a take on this ?

    1. Rajeswaran says:

      hello…can you please care to suggest …. Thanks …

  69. nevin2k4 says:

    Hi Manish,

    I am reading your blog for the past few months and i must say that you are doing a great job..

    ok .. here are my questions..

    I have analysed few companies based on the low premium, coverage and claim ratio for the past 3 years data. 2009 to 2012

    31 years of age for 50L SA

    1)Aegon – 44%, 56%, and 68% – upto 75 yrs – 5300 rs/p.a
    2)Bharti AXA – 78%, 88% and 94% – upto 66 yrs – 4800
    3) MAX Life – 68%, 86% and 90% – upto 66 yrs – 5300
    4) TATA AIA iraksha supreme – 78%, 83% and 84% – upto 71 yrs – limited pay 10 yrs option – 12000 rs/pa

    I am thinking to take 50L from any of the 2 companies. Currently, i am thinking to go with Aegon and TATA AIA (since the premium that i would be paying would cost 1.25 lakh for the entire coverage using limited pay whereas with other companies i must pay atleast 2.2 lakh).

    What would you suggest? I m still confused whether to go with Aegon because BHARATI AXA is better but is a new entrant and MAX LIFE is much better because they are doing good for the past 2 years. Let me know your thoughts on this.

    1. You can go with Bharti Axa, but as they are new , their claim settlement is going to be lower in start . You can also go with LIC online term plan

  70. arvind says:

    Fellow Investors,

    God forbid never patronise Kotak and HDFC Group Companies. Both are very well known for mis-selling, taking the customer for granted, red tapism, highly bureaucratic approach, no system and procedure, over centralisation, no accountability, amateur staff and that too mostly outsourced and penalising the customers without scruples.

  71. Venkata says:

    Hi Manish,

    I am 36yrs old IT professional with annual income of 12lac with 2 kids ( 4+yrs & 1+yrs age ). How much sum assured term plan i should take ? and which one is best in the current market with less premium rate? please suggest me .

    I am paying currently MNYL Whole life participating plan ( 5 lac sum assured), LIC Jeevan Surabhi ( 5 lac sa, 20yr coverage ) MOney back policy .


    1. You can take a HDFC CLick2Proteect Plan for 1 crore or 1.5 crore .

  72. ghanshyam says:

    Hi Manish.
    please help me to finalise a term plan
    I have shortlisted
    1- HDFC
    2- Max
    3- Aviva

    I want critical illness rider of 10lakh also
    which shall I sellect…

    1. I cant tell you what you should select, I can only tell what I would have done ..

      I would go with HDFC

  73. Krishna says:

    Dear Manish,,

    I have opened TWO PPF Account in the year 2006 one from SBI & other from POST OFFICE ..in my name .Now my question is is it legal or illegal …Can I close one account if yes what is procedure???????????

    1. Its ILLEGAL . One can not have two PPF accounts in same name !

  74. Sundar says:

    I paid 50000/- as premium for my incomesurance plan. I want to avail term plan, before that I would like to surrender my incomesurance plan. Can I get my entire premium amount or lesser?

    1. It will depend on the terms and conditions of the policy you have bought . See the brochure !

  75. Jaimin says:

    Hi Manish,
    a year before https://www.jagoinvestor.com/2009/11/iterm-cheapest-term-insurance-from-aegon-religare.html you described AR as “my favorite Aegon Religare” and in the first para of this post u r saying “Aegon Religare did not settle even a single claim out of total 7-8 claims they got”. Dont u think you ware too excited before a year ago.I already have a iTerm.(50lac+25lac)Whats your futureview about iTerm,also have aviva iLife 50lacs.

    1. That article was written in 2009 , which is like 4.5 yrs back and that was my favorite that time due to the fact that they innovated this idea of online term plan . However later, they didnt keep up with the customer service and had a bad settlement ratio . However thats mostly because of the misselling part and because those people never gave proper info about their health issues. If you have declared all the things properly at the time of taking the policy, you dont need to worry on this at all .

  76. Naval says:

    You can get simple, apple to apple comparison of term plans on http://www.policyx.com/. Interesting website. It has already reached number 3 ranking in insurance comparison.

    Manish: Your feedback please?

    1. Need to look at it yet !

  77. Nandan Kamath says:

    Hi Manish,

    I am 28 years and a drinker. I do not smoke. Also, I plan to get married within a year’s time.

    What plan do you think is best suitable for me and should I wait to get married first. Will marriage impact my premiums?

    Thanks in Advance

    1. Marriage will not impact your premiums . you can take it later once you are married, assuming you do not have financial dependents at this moment !


  78. ANUJ JAIN says:

    I am 35 years old and want to purchase pure life insurance ( like term plan) for max age of life like more than 70 years with sum assured for Rs 50 lac for me( annual income 10 lac) and 50 lac for my wife ( annual income NIL).
    kindly advice


    1. You can go with Religare in that case, they provide for a very long term .

  79. Amit says:

    Hello Manish Sir,
    I must congratulate and thank you for providing such a critical information with such a easy way. Please keep doing service to humanity like this. We all wish your success and peace in life.
    I was wondering if you could also help me in clarifying my confusion.
    About me :
    Age 32 years.
    Socially Smoker and Drinker.
    Single earner.
    No kids(not even planning)
    Working in an IT firm(Bangalore).
    Annual Income : 17 LPA
    PPF investment 1 lac per year(accumulated 7 lacs by now)
    NSC investment around 1.5 lac
    Savings in account around 3 lacs
    I have a home loan(HDFC Ltd) of 24 Lac.
    Now my questions :
    1). I am thinking of two term insurances.
    (a). 25 lacs for 5 years(called Reducing type I guess) and from any cheapest premium provider company(Say Aegon Religare). I decided this because I am targetting my loan closure in 5 years from now. And once loan is closed, I will close this policy too.
    (b). 1 Crore for longer period(say 30 years). This would be the one I would continue life long. I would choose some front runner for this(Say ICICI Prulife, HDFC Click2protect or LIC).
    Am I thinking right or any advice for me?
    2). I am totally confused about riders, I am completely failed to understand what are they, if they are included in package or not, if rider’s sum is extra on sum assured or is part of total sum assured. Any complete explanation/guide/article would be of great help!
    3). I am also inclined towards single shot premium to avoid future tensions. In my stream we change companies almost every 2 years, bank account changes and so on. Please shed some light on it as well.
    4). Also my CIBIL report is not that great, I do not get credit cards etc. Only I know how much pain I went through to get my home loan sanctioned. Would bad cibil report create any problem in getting term insurance?
    5). If I get in discussion with some call center agent of any insurance company, what are those tricky questions I should ask to get all the important information extracted from them. Any sort of checklist you know.

    At last I would thank you in advance for answering my queries and god bless you.

    Amit Saxena

  80. Amit says:

    Hello Manish Sir,

    I must congratulate and thank you for providing such a critical information with such a easy way. Please keep doing service to humanity like this. We all wish your success and peace in life.

    I was wondering if you could also help me in clarifying my confusion.

    About me :
    Age 32 years.
    Socially Smoker and Drinker.
    Single earner.
    No kids(not even planning)
    Working in an IT firm(Bangalore).
    Annual Income : 17 LPA
    PPF investment 1 lac per year(accumulated 7 lacs by now)
    NSC investment around 1.5 lac
    Savings in account around 3 lacs
    I have a home loan(HDFC Ltd) of 24 Lac.

    Now my questions :
    1). I am thinking of two term insurances.
    (a). 25 lacs for 5 years(called Reducing type I guess) and from any cheapest premium provider company(Say Aegon Religare). I decided this because I am targetting my loan closure in 5 years from now. And once loan is closed, I will close this policy too.
    (b). 1 Crore for longer period(say 30 years). This would be the one I would continue life long. I would choose some front runner for this(Say ICICI Prulife, HDFC Click2protect or LIC).

    Am I thinking right or any advice for me?

    2). I am totally confused about riders, I am completely failed to understand what are they, if they are included in package or not, if rider’s sum is extra on sum assured or is part of total sum assured. Any complete explanation/guide/article would be of great help!

    3). I am also inclined towards single shot premium to avoid future tensions. In my stream we change companies almost every 2 years, bank account changes and so on. Please shed some light on it as well.

    4). Also my CIBIL report is not that great, I do not get credit cards etc. Only I know how much pain I went through to get my home loan sanctioned. Would bad cibil report create any problem in getting term insurance?

    5). If I get in discussion with some call center agent of any insurance company, what are those tricky questions I should ask to get all the important information extracted from them. Any sort of checklist you know.

    At last I would thank you in advance for answering my queries and god bless you.

    Amit Saxena

    1. Hi Amit

      you have actually asked too many things which actually needs a very detailed discussion .. I suggest you open up seperate threads for each point on our forum to discuss – http://www.jagoinvestor.com/forum

  81. SAMEER says:


    1. Religare gives for a very high age !

  82. Yogesh says:

    Hi Manish,
    I am 32 yrs old. I would like to know the best term insurance with good riders.
    can you please list those in sequence. Also please let me know that what is the risk, to have the insurance from private company than LIC?


    1. You can choose SBI offline term plan, because I dont know which online term plan gives riders .

      Also there is no risk in LIC term plan ..

  83. Yogesh says:

    Hi Manish,
    I am 32 yrs old. My question is which term insurance best with excellent riders options. I am planing to have the term insurance for 1 cr. Also please let me know what are the risk in going for private insurances than LIC?
    Please reply in sequence so that it will be easy for undurstand.


  84. Yogesh says:

    Hi Manish,
    I am 32 yrs old and I want to know the best term insurance with best riders. can you please reply in sequence. I want the term insurance for 1 cr or above.
    one more question is it a really great risk if I take this plan from Pvt companies than the LIC?


  85. Vivek Purohit says:

    I am a 28 year non smoker and planning to buy policies with SA 1 crore. I am planning to go for HDFC Life and SBI Life (50 Lac each) online term policies. What do you suggest?

    1. Yes, you can do that, but why not 1 crore term plan with a single company ? It would be simple thing !

  86. sunil kumar.t.v says:

    I am 48yrs old,I am looking for a term insurance policy SA 1 core (pure life cover with accident and disability riders only) i am interested sbi pls give me full


    1. You can surely take it , its called SBI e-Shield .. you can take the policy online by making the payment !


  87. Manu says:

    Hi Manish

    I today got one call from Max Life insurance and agent told me that in case of term plan through agent , case settlement is guaranteed by the insurance company with in 7 days but in case of online plan there is no settlement guaranteed, and some times it take 2 months. Thats scares me little about online plan prospect. Can you please clarify about this and help us get better informed decision.

    1. This is just a plain LIE ! . there is nothing like that !

  88. Vishal Jain says:

    Hi manish,

    I applied for a lic term plan. I filled the application form myself so that all the details can be given correctly. While going for medicals I found out that the 1st sheet of my application form was changed. This is because signature is only required in the last page of the form. My agent changed it because I gave the details of all my existing policies and he said that only existing lic policies are to be mentioned so he changed it. Now the policy has been issued and the policy document is with the agent. Somehow I am not convinced and want to cancel it but my agent is saying continue it for one year, next year dont pay premium for this and apply for a new one. Please suggest what can I do now.

    1. Vishal

      First, check what is written in the form , does it say “Mention all insurance policies” or “all LIC policies” . It says ALL , then you need to mention ALL policies and your agent has not done the right thing .

      Now to cancel it , you either have to be very strict with agent, or let this pass ..

      Agent will get his commission on the policy and he wants you to continue it .. So first tell him pyar se that you want to close it, next if he does not support, then complain to IRDA and LIC both about this . If your case is real, IRDA will cancel the licence .. make sure you also tell agent about your action


      1. Vishal Jain says:

        Hi manish,

        Can I terminate the term plan? if yes, how. I know if i dont pay premium for next year it will automatically get terminated. But I dont want to wait for that long. I want to terminate this and apply for a new term plan from some other company.

        1. But why do you want to terminate it at all ? Let it run till whatever point its valid , by cancelling it you will loose its benefit !

  89. Rohit says:

    Hi Manish,

    I am looking for Long term plan so can u plz suggest me for Aegon religare or Max.
    My date of birth is 10-01-1986.

    1. Any company is fine ..

  90. Dear Manish,

    I have noticed that premium of Sum assured at Rs. 50 lacs(Under Terrm Insurance) of all insurance companies are almost lower in the bracket. For example the premiun at Sum asuured Rs.40 lacs is higher than the premium of Sum assured at Rs.50 lacs.
    I want to diversify the sum assured of Rs.1 Crore into two parts i.e Sum assure of Rs. 50lacs each to be taken from Aegon Religare and AVIVA rather than taking Only from Aegon Religare or AVIVA.
    Kindly suggest am i in right way???

  91. Amit Anand says:

    Hi Manish,

    I want to combine pvt insurer and govt company. Is it good to combine SBI and HDFC, 50 lac each. IS SBI as good as LIC and trustworthy? Is SBI life govt owned? ALso I think if I take more than 70 lac from one provider they they ask to go for medical test, which i think is better, however if I take 50 lac from each, then medical test will not be done.

    Also if I my income is 9 lac p.a., then can I get 1 crore each from SBI and HDFC.

    1. SBI life is not govt owned !

  92. Amit Anand says:

    HI Manish,

    I need your help with Term Life Insurance. I want to take a mix of pvt. insurer and govt. company. Instead of combining LIC Term insurance and HDFC click to protect, can I combine SBI e shield and HDFC click to protect. is SBI also govt. owned and as good as LIC. I want to take 50 lac form SBI and HDFC each because i feel SBI is govt owned and trust worthy and HDFC has good claim settlement ratio and low premium.

    Please advise.

  93. Senthil says:

    Hi Manish,

    I am from chennai. I wanted to know if there are any conditions for a term plan settlement like pre-existing conditions not paid, death is not natural/accident, etc.

    Your assistance would be of great help.

    1. Hi Senthil

      All the deaths are covered

  94. sathish says:

    Hi..i would like to take term policy for my dad and my mom, my dad is 51 years old now and he is an agriculture farmer.My mom is house wife .can i take term policies for them.please suggest me ?

    1. Yes you can take it for them, but the question is – “Should You take term plan for them” ?

      1. sathish says:

        .Thanks for replying………yes,i want to take term policies for them.what do you suggest on this..?.

        1. You can go ahead,but the premium will be like a bomb , are you ready to pay for that ?

  95. shuvam says:


  96. Partha Sarathi D says:

    Hi Manish,

    Need to know the best investment plan. Am 39 yrs (Smoker) from Hyderabad. Canu suggest me some.

  97. Saurabh Jain says:

    Hi Manish,

    First of all , thanks a lot for writing so enriching articles. I have been reading them since a week , and I have read almost all your previous articles as well. thank you for enriching my financial info.

    I need a suggestion : I am 29 year old earning 10lpa, wife earning 6 lpa, I am planning to retire at age 60 .Please suggest me how much insurance cover I should take and what all riders I should include ?

    I am thinking of max life and aviva. 75 lakhs , 35 years with critical illness rider and accident cover .
    How would you rate max life monthly income plan against aviva, which one should i take?
    Also should i buy separate policies to cover 75 lakhs ?
    Should I buy separate critical illness policy ?

    I have asked so many questions. It is my first post on the site

    Thanks again

    1. Hi Saurabh

      Welcome ! , I think you should take a pure term plan and not some investment cum insurance plan . take a 30 yr 1 crore term plan for both and thats all ! . keep it simple !

  98. Niranjan S A says:

    Hi Manish,

    I am 27yrs old non smoker. I am planning to buy a online term insurance for 50lakhs. Which is the best one. I am confused between Religare and ICICI. What is the claim settlement ration for Religare and ICICI in 2012-2013. Hows the customer service from these 2 companies now.


    1. I would go with ICICI given two , why not Aviva or HDFC ?

  99. M.Gnanasekaran says:

    Hi Manish,

    I am looking for online term plan of 50l + riders, but getting confused in that many planer in pvt. sector.
    presenly i selected Maxlife online term insurance. is it good policy?

    Please guide me.


    1. Hi Gnanasekaran

      You can go with any company at the end of the day, but if you talk about the most talked about companies they are HDFC, Aviva !

  100. SAMEER says:

    Hi manish, i am 22 years old , and i want to take a term insurance which last for long time. I am at a very high age. I have some queries. One is that is online term plan buying is safe? And secondly would the premium amount be same lifelong , once taken? which will the best policy for me?

    1. Yes premium will be same life long . You can take it till 60 yrs of yours. Any company is fine as far as you are honest in telling them all information !

  101. rama says:

    I am planning to take TATA AIA iRaksha Supreme for 75lacs. is it good please advise.

  102. Sagar says:


    I have shortlisted following plans:

    1) HDFC Life; Click2Protect
    2) ICICI Prudential; i-Care
    3) SBI life; eShield

    My criteria is low premium, High claim settlement ratio, low solvency ration.

    Require Insurance of 1 Crore.
    Can you suggest which one should I choose? If not these 3, any different option you can suggest?


    1. Sagar

      Did you calculate the premium on their websites ? Which one is lowest ? Just go ahead with that one !

  103. joydeep says:

    Suppose someone has a term life insurance policy running for three years…now if he dies on the third year and it is found that he did not disclose some medical condition(s) at the time of buying the policy three years back , will his nominee’s claim get rejected ?

    I mean, is it true that after two years of a term life insurance policy have passed without any claim, the insurer cannot reject a death claim on the ground of non disclosure of facts ?
    Is there any IRDA guideline regarding this point ?

    1. No , that guideline will not apply, its hugely mis-interpreted by people . Only those things which do not influence the premium will be considered like Home address, Phone Number, Number of Siblings .. these data if found wrong, they cant be influential in premium calculation. But if one hides MEDICAL Issues, its 100% breach of contract and the claim will surely and SHOULD BE denied !


      1. joydeep says:

        Thnx Manish ji…

        But what will be the case if it is found that the said medical condition was un-diagnosed on the date of purchase of policy…

        What if some serious disease begins to manifest three-four years after taking the policy…there are numerous silent killers which doesn’t manifest any symptoms at all at the beginning until it is to late or has become terminal…

        What I want to hint …what will be the case if the policy holder did not disclose the medical condition because he himself was GENUINELY unaware of it…?

        1. I know these doubts crop up , but then you will have to trust the system and companies at this level, else you will never take the policies. Everything is recorded and we are now in the advanced world which will detect all these things .

  104. Logu says:

    Hi Manish,

    Really a very great article. It is very helpful for me to choose a term insurance plan. I took about a month to read up all the above queries and comments. I have finally settled down to Avia i-Life for 1 crore through online, considering Premium, claim settlement ratio, number of years, etc. My age is 28 years, so premium also i felt cheaper. The premium amount for 1 crore is lesser than 90 & 95 Laks. I dono why they have kept like this in Aviva. Anyway,

    The things which i would like to share regarding Aviva which may help others who wanna take the same.
    1. They told clearly that my premium amount might increase after the medical test report. But it hasn’t.
    2. All the medical reports were sent to my mail, seems reports werent given to customer in other Insurance companies.
    3. They requested for, 1.Pancard, 2. Form 16 , 3.Three Month salary slip & 4. Six Month Bank Statement. This is just for information, before applying you may keep all these things ready as softcopy.
    4. You will get a call from them from the next minute after you start applying, strictly ask them to wait until u urself fill up the form. Say them to call at your convenient time just to ask any queries if u get while applying. It may take an hour or two to complete the full form at a stretch. U can edit the information until u pay to them. So take your own time (Even days). If ur Bday is nearyby,try to finish off soon.
    5. Before get into medical test, try to avoid junks at the last 1 or 2 days which may show a abnormal result lead to increase in your premium. Be cool while taking up all the medical tests.

    6. Some guys have asked whether to go for 50:50 in two insurance companies. My personal opinion is not to make our family get into trouble running after companies one by one . If one company reject our claim for some reason, sure the other one also ll reject for the same reason.

    Thanks Manish for giving this article which is helping a lot to everyone.

    1. Thanks for listing down all those 6 points 🙂 . I am sure it will help a lot of other people !

  105. Lalit says:

    Dear Manish,

    I want to go for a online term insurance for myself (38 yrs) and my wife (33 yrs) for 1 crore each.

    With so many companies for online and comments/responses online we are a little bit confused which one to go for. I had checked Tata AIA (iRaksha Supreme) and Bharti Axa. Please can you suggest either from these or any better with low premiums.

    1. They are all good if you do not hide information, You also have HDFC Click2Protect !

  106. Aanand says:

    Dear Manish,

    I am so happy that so many have taken your advice.

    I had got good advice some 3 years back and had bought 25 lakhs worth term plan from LIC – Amulya Jeevan. It now appears that amulya jeevan is closed.

    I want to buy additional 50 lakh term insurance from LIC – so please advise me.



    1. What suggestion you want now here ? Just go for LIC policy !

      1. Aanand says:

        Hi Manish,

        There are no term plans in LIC anymore. Amulya Jeevan is closed.

        There is news that LIC would be coming up with a online teerm policy but I am not sure if this is speculation or actual fact.

        Can you guide if there is any new policy in LIC or what is the second best?



        1. I would have gone to HDFC or Aviva !

        2. shuvam says:

          Hi Aanand,

          LIC has come up with Amulya Jeevan 2 and withdrawn the old Amulya Jeevan. You can go for that.


          1. Thanks for sharing that 🙂

  107. chetan bhargav says:

    Hi Manish,

    I have paid online for term plan about 9 days back.

    I was sugggested by my friend other policy of other co with better features at same charges.

    How can I cancel first, I have not submitted required documents like ITR.

    pl reply whether I will be charged for cancellation.

    chetan bhargav

    1. No should should not be. When you buy any insurance policy, after you get the policy document, you have time to give it back and its called “Free Look Up period” . So just contact the company and make sure you keep the records (like email)


  108. Supta says:

    Hi Manish,

    I am 30, married male and recently took a term plan of 1cr with Aviva iLife for 35 years. I did want to go for LIC to begin with but their high premium deterred me. Do you suggest I take another one from LIC for a lower amount (say 20 lakhs) under same conditions and time frame? Because in case of death, if LIC settles the claim and Aviva does not then we can take this to the ombudsman. Please share your thoughts.


    1. Hi Supta

      You can do that , but one company settling claim does not mean the other will. If you have not disclosed your medical info with AVIVA , but you have done in LIC, then in case of claim LIC will pay the claim, but Aviva will not for the obvious reasons .

      1. shuvam says:

        Hey Manish,

        I got your point. But assume I have correctly provided all details to both. Do you think, in that case both Aviva and LIC have equal chances of setling the claim? As you have posted, the table shows Aviva’s claim settlement ratio is lower, hence my question.


        1. Yes, both will settle the claims . The claim settlement ratio is the past ratio due to claim quality . Try to understand it in a better way !

  109. Aditya says:

    Hi Manish,

    I am a 33 year old male earnign around Rs. 10 Lacs a yea. I am married and have a housewife mother and wife age 29 years earnign around Rs. 6 Lacs a year. I want to go for Rs. 1 crore SA term plan can you please suggest me so good insurance term plan? Is 1 Crore SA is enough for me? How much insurance term cover I shall buy for my wife? My focus is on good claim settlement record.


    1. Hi Aditya

      To arrange for a 30 yr income for family you should take 250 times of the monthly expenses as the term cover. So if your expenses are 50k in family, take a 1.25 crore term plan . I hope this will help you !


  110. ketan says:

    Hi manish,

    I am planning to buy term plan.. with rider benefit or without rider benefit. pl. sugget.

    1. Any options you have shortlisted ?

  111. venkata says:

    I am NRI, 35 yrs, took Bajaj Allianz iSecure online term plan for SA 1.05Cr, with ADB 35L, TPD 35L and premium weaver for 30Yrs term at Rs. 25K annually in Oct-2013, Since bajaj & kotak only offering online term plans to NRIs. Bajaj has relatively big customer base with 90% Claim settlement ratio and 6% repudiation. I disclosed all facts known to me, couple of queries and answers through emails and medical checkup done and policy issued.
    If I am resident indian, I will opt for Maxlife online term plan.

    How is my decision opting Bajaj allianz iSecure plan? Comments/ suggestions plz.

    After 5 yrs, I will review my insurance needs and will buy term plans.


    1. How did you do the Medicals ? Was it done in India or abroad ?

  112. MI says:

    Hi Manish,

    I am 31yrs old(smoker) and looking to buy a term plan. I came across the LIC Jeevan Saathi plan which covers both me & my wife and also provides survival benefits. Pls suggest if I should go for this plan or some other one. I am looking at a cover of 1-1.5Cr.


    1. What is the premium for it , I think its a savings plan and not a pure cover policy

  113. Binaya says:

    Dear Manish,

    Already I purchased one 40L term insurance from AVIVA with return premium at maturity.Already 02 yers I deposit. Minimum deposit should be 03 yeras. So I should close this after this year payment by any alternative or continue.

    1. Is it a TERM PLAN ? If it is, then there is no requirement of minimum 3 yrs payment !

  114. Prakash says:

    Hi Sir,

    You are doing a great job. What is your point of view about Edelweiss Tokio Life Insurance Term poilcy, they have some excellent riders..I am not sure if the riders are allowed by IRDA..?

    Is Edelweiss Tokia good when it comes to Term Life Insurance..?

    1. Now riders are stopped by IRDA . As a company I do not have a comment right now , as I have not seen much talk about the company, but if you do not mess up while giving the information at the time of taking the policy, it should be fine with any company

  115. Arjun says:

    Hi Manish,
    I’m 35 yrs old and looking for a term insurance for 30 years. I just compared the premiums for 30L, 40L and 50L in AVIVA and HDFC life. Details as below.
    It looks like premium for 40L is less than 50L in both these cases. I don’t really understand why this is happening. Can you please explain?
    30L 40L 50L
    AVIVA 5363 7150 5669
    HDFC Life 7922 10562 8652

  116. Pallab Mukherjee says:

    Hi Manish,
    Thanks for the great article. it is really helpful and provides enough information for one to choose term insurance. I have finally selected HDFC click2protect for 1 crore. My age is 35 years. Few questions –
    Do you think it is a good choice?
    I am married but no kids as of now. In future, can I include kids as beneficiary?
    Can I also include my parents as beneficiaries? If something happens to me, they will be hit equally, not just my wife. So, want to secure the entire family. Is this doable?

    Thanks again for your help.

    1. Yes, you can add their names as NOMINEES , but more than that, you need to make a WILL stating that they should also get the money . Just adding name of Parents in NOMINEE list is not a complete solution .

      Read more about nominees here – https://www.jagoinvestor.com/2010/10/will-your-nominee-get-the-money-on-your-death.html

  117. Prasanna says:

    What about Aegon Religare?

    1. Their claim settlement ratio till now has not been very great .

  118. amit says:

    i m 33 years old married with 2 kids & want to have a term plan of 50 lakhs/ 70 lakhs ,kindly guide me.

    1. You can go for any term plan in market . You should go for 1 crore as the premiums are cheaper !

  119. Ujjval says:

    I have 50 lacs LIC term insurance. My annual income is around 9 lacs and age 30 years working in IT. Wanted to buy another 50 lacs term insurance ot make it 1 cr. But for lesser premium was thinking to go for online insurance – SBI or HDFC CLick2Protect. But both doesn’t have riders, and same as mine LIC. Was thinking I should have term plan with riders for CI and Disability etc. What do you suggest? Which online insurance I should go and how can I cover riders I am looking for?

    1. I suggest that first focus on main cover, riders are always extra . Dont deny a good company cover because it does not have riders . You can anytime buy the RIDERS later with a personal accident cover !

  120. Prasanth says:

    Hi Manish,

    I just would like to take your suggestion about to Term Plan which also include Accidental death risk.

    I have 2 daughter,I just would like to secure my family with Term insurance.I would like to take your suggestion about choosing the company Term Insurance,Hence it will be easy at the time of claiming.

    Your input is well Appreciate.


    1. Prasanth

      If you are honest about giving information at the time of taking the policy, then you will not face issues with any company, if you just need names, I can suggest Aviva or HDFC , but others are also fine !

  121. mukesh kumar says:

    Hi, Manish

    Thank u for sharing wonderful ideas..I hav no clue about investment and insurance..Kindly suggest me where should i invest to get gud return without risk. I can invest up to 15000 per annum..should i go for pension plan, becz i am looking to buy one. should i go for ppf…plz suggest..

    1. Mukhesh

      You cant get wonderful returns without RISK , dont try to find how to do it because it cant happen 🙂 . I suggest first slow down and read few more articles and take help from our forum – http://www.jagoinvestor.com/forum

  122. Lokesh says:

    Hi Manish,

    You have been a great help to all common man, hats off to your help!. Truly appreciate it!

    I am planning for a Online term policy and have narrowed down to ICICI icare and SBI Life . Kindly request your assistance in choosing between them.

    Thanks in advance.

    1. I would choose SBI in between them

  123. Arvind says:

    Hi Manish
    Thanks for the info you have shared on this blog.. very informative

    I have a a term insurance policy from ICIC PRU, i took it when i was in india, i am a NRI now(since 4 years) & just wondering how its going to impact the policy?


    1. Just want to ask if you were still NRI when you took it and did you declare that you are NRI or did you lie to them or didnt disclose this fact ? If you have not , then its more of breach of trust and info .

  124. Preeti Sharma says:

    Hello Mr Manish,
    !I am a single Parent at age 40(husband died) with two kids(son 15 years, daughter 10 yrs),having around 7lac per anum income by self business. kindly give me the advise how I should plan .
    As I checked that I should take
    2.Term insurance-worth 1cr , which company I should select ,is 1 cr is correct amount
    3. which pension plan I should opt and what amount I should target,at what age I should start getting the pension.
    4. should I take any money back policy also than whish one and of how much amount.
    5. how much amount I should save for my daughter for after 15 years and what is the best method of returns(FD or SIP or GOLD or life policies,or education plan).
    6 have taken 5lac family floater health cover, that much is the right amount?
    7 anything thing else I should do to protect my family?
    your advise will be very very helpful.
    Mrs Sharma

    1. I suggest

      2. HDFC would be a good choice

      3. I dont think you should opt for a “plan” . Better accumulate the money through other things like PPF, mutual funds etc and then later you can plan for pension from the accumulated money

      4. I dont suggest

      Overall I think you need a proper financial planning, because you have too many questions . WHy dont you work with a financial planner in your city or just follow my book – “How to be your own financial planner in 10 steps” – https://bitly.com/Financial-planner-book

  125. Deepak Sharma says:

    Hi Manish,
    I need your advice for buy a life insurance policy. I am 23yrs. And can invest 10k/annul. I need a plan base on insurance + saving. while i will need to pay premium 15 to 20yr.

    1. Why do you want to mix insurance + saving ?

  126. Ajee Surendran says:

    Dear Manish,
    Thanks for the wonderful article.
    I would like to know if there is any compnay offering term insurance to NRI´s


    1. OPt for some offline term plan , you might get it

  127. Mani says:

    Hi Manish,

    Very informative website and the following comments section is very helpful to know about others experience too. Can the comments section can be organized to list
    the most recent comments in the top? Just a suggestion.

    1. Mani

      I had tried doing that once .. but there are nested comments also , and that makes a problem. We need to have comments one after another to keep the flow !

  128. Pankaj says:

    I am looking forward to buy term Plan. I am doing research & taking opinion from my friends. I am really impressed by Max life increasing monthly income plan in which they are giving lump sum amount & monthly income assurance at increasing rate of 10% p.a. i have not seen this feature in any other plan but with this option premium amount goes up. Please give your feedback on this plan.
    I am 29 years, non smoker, looking for sum assured of approx 1.5 crore for the period of next 30 years.
    What’s your take on this? Should i go for this or is there any other plan which i can think.
    I am also considering Aviva’s i life

    1. You can surely buy this , but remember that premium will factor all these things !

  129. Ravikant says:

    Hi Manish,

    i am currently 31 years old and planning to take 1 crore term insurance.
    Can you suggest me which one i need to buy as LIC premium is quite high. i have take 1/2 term police to ensure my family is secure in my absence.

    Thanks for the valuable resource provide on term insurence.


    1. You can look at SBI e-shield or HDFC

  130. Chandu says:

    Hi Manish,

    I came to know your website recently and i became a fan of it.

    Actually i have taken LIC policy on 21/7/2011 and paid premiums till date and after i read about Term insurance policy i now stopped paying my premiums.
    Can you explain about different types of Term insurance and what is best like Term insurance with Return or Normal Term insurance.

  131. rajendra says:

    Hi manish,

    I have Aviva i-life term insurance plan of 50L for 35 year.I am 35 yr old and want additional 50L term insurance.Can you suggest any good plan for me.

    Any comment on SBI and Kotak online plan.


  132. manoj chaubey says:

    Hi Manish
    I am going to avail housung loan for 70 lacs and want to buy Good policy which cover Minimum 75 lacs risk.

    Which one you would like to suggest to cover said risk with lower premium. I am having account with HDFC Bank.

    1. YOu can look at options like HDFC Click2Protect or Aviva

  133. Ashok says:

    Dear Manish,

    I want to take an online term insurance for Rs.50 lakhs. My age is 33. I was once a smoker and quit smoking some 4 years ago. I do occasionally smoke, 10 or 12 cigarettes in a year. Do i need to classify myself as Smoker or Non smoker. Kindly clarify.


    1. Yes, you should mention yourself as SMOKER

  134. himmat singh deora says:

    Dear Manish ,
    I am 41 and would like to take a term plan but i have no idea about what a term plan provides and what i should be aware of . How long do we have to pay premiums and what after the tenure is over ?

    1. Its a very simple product, all you get is a life cover and nothing else, if you take a policy for 30 yrs, then if you die in these 30 yrs, you get the sum assured, if you dont die, then you get nothing . Thats the reason there is low premium


  135. Gaurav says:

    Hi Manish,

    I am 23 years old and already have a Aegon Religare term plan of 5o lakh with all riders till age of 75 years. I was checking if I should buy another plan.

    I was checking other companies plans but observed that the max policy tenure is around 30 years. This means that if I buy another plan then it will end in my 50s.
    But, my average working age would be around 65. So, I was thinking that probably I should wait for another 8-10 years and then buy an insurance plan. At that time, my dependencies and priorities may also change.

    What do you think about it?

    1. YOu can just buy another AR plan itself .

  136. v murali says:

    I plan to go for 50L 10 year TERM PPLICY WITH HDFC
    I dis closed my diabetic medicines I am at age 51 now the perimium is intimated as increased ,keeping my disclosures, it is almost double
    what is the advice for me to take up the policy paying the premium at high

  137. Hi Manish,
    I am really impressed with your knowledge on Insurance products.
    I have taken an online term Life insurance policy from ICICI for 75 Lakhs. The premium is approx. 10,000. Kindly advise if I should continue with this policy or should look to upgrade it to 1 crore with any other insurance company.
    I do not want a very high premium as I am already 33 yrs now.

    1. Whats your requirement on sum assured front ? is 1 crore needed or not ?

  138. Kaus says:

    Hello Manish,

    Thanks a lot for the wonderful information.

    I have a query, I am looking at a PURE TERM INSURANCE Plan which one should I opt for.

    Age : 32
    Salary : 13L
    Liabilities : Home Loan
    Looking at Sum Assured : 1.5 CR.

    I am inclined towards ICICI Prudential, AVIVA and SBI Life. Could you please suggest which one should i go for and should I split my policy into two ? i.e. 1 CR from X and 50 Lakhs from Y. ??

    Please let me know your suggestion; do you think ICICI would be a better option than AVIVA ?

    1. Kaus says:

      Just Adding, even HDFC is a possible choice…

  139. mudit says:

    dear manish
    i am 28 and want a term insurance of 2 cr..
    plz suggest which ll b d best..
    m considerin aegonreligare and tata aia..

    1. I would suggest for go HDFC Click2Protect

  140. mudit says:

    i am 28 yrs and plannin to hav a term insurance of 2 cr..
    plz sugeest which iz d best company..
    i m considerin aegonreligare and TATA AIA.


  141. Sivakumar says:

    Dear Manish,
    Thank s for providing valuable information on term insurance. Its really nice to see you providing replies/suggestions for all queries.
    I need your suggestion for my term insurance requirements. Already i am having term insurance of 30 lacs (Amulya Jeevan from LIC). Now i want increase my term insurance coverage to 1 crore. I am planning to buy another term insurance policy from LIC for 20 lacs and 50 lac cover from pvt insurer.
    Could you please suggest me whether my option is correct and also suggest good pvt insurer for buying 50 lac cover.
    Many Thanks in advance.

    1. Go for Aviva or HDFC Click2Protect

  142. Nirav says:

    I want to make a selection for a 75 Lakhs Term Insurance between the following 3 companies;

    SBI Smart Shield
    Aviva Ilife

    Could you kindly advise ?

  143. Srinivas Asur says:


    Last month i bought online Term insurance from Aegon Religare for 75Lakh. I want to buy further 75Lakh from another company. Can you suggest which one should i go for? Also after looking at claims rejection % from Aegon Religare i am thinking did i do right by buying term insurance from them?


    1. You can look at Aviva or HDFC Click2Protect

  144. vijayalakshmi says:

    hai i am vijayalakshmi, i am a insurance agent (LIC OF INDIA) iam widow lady i have one son 12 years old, already i have anmol jeevan policy 5 lakhs ,now i want to take amulya jeevan policy 25 lakshs its good or not ,pls advoice me.

    1. I dont think its a good option for you. YOu should take a term plan for securing your child life in future, also you should invest in mutual funds for long term wealth creation !

  145. warbhog says:

    Pl ,
    help me, mai kal hi aviva ki i term plan quote kiya hai, medical baki hai to kripaya aap meri sahayata karia. mera income 2.5lak ,age 38 hai, 32 Y term wala 50,00,000/- ke liye quote kiyahai koi bhi rider nahi liya hai. to aage medical chekup karoo ya na karoo, lic ka online term plan sasta aur garanteed ya bharosa kar sakta hu. settelment ratio aviva ka kam hai to mai medical kanese pahele policy cancal kawa do , pl pl pl muze sahe rasta dikha digiyega.
    manishkumar ,phursungi (pune )

    1. You should go for medical tests . Just make sure that you fill all info correctly in form , all insurance companies are same

  146. Ravi Gupta says:

    Hi Manish,

    If I need to select one out of below mention two private company for getting 1 Cr. term life insurance. Please let me know which one I should select any why?

    1. SBI Life
    2. ICICI Prudential

    thank you very much for this great article and for helping us in our decision.

    Ravi Gupta

    1. I would chose ICICI if I had to , will you ?

  147. Ravikumar says:

    HI Manish

    I am Ravi . Recently I applied for HDFC Click2Protect term insurance. I am 39 years old, occasional smoker and had underwent laproscopic surgery for digestion problem 6 years ago (now no issues). While applying online for 15 years term for a sum assured of 80 L, the premium calculated was Rs. 20,510. Fortunately with not much issues from HDFC, my policy is now in “Rated” acceptance status (after medical examination done) which means they have revised the premium to Rs. 28,890 from 21K and the reason which was given to me is the rate up is due to the BMI (Body Mass Index proportion). I am actually underweight (weighing 47 Kgs) with 173 cms height. Just wanted to check with you whether the justification given is ok to proceed. I am not interested to proceed to other insurance companies considering the approved status of HDFC and the issues, medical tests that are expected if applying for other companies. Please advice.


    1. You should go ahead with HDFC now , as they have atleast allowed you insurance

  148. Vetri says:

    After lot of online search, shortlisted Aegon and Bharti-Axa for a Rs 1 Cr SA (plain vanilla SA with no riders). Very little difference between them on the premium. Opted for Bharti-AXA (due to relatively better settlement ratio) and paid premium online (12th August 2013).

    Experience with Bharti-AXA as a carrier so far.

    1. Immediately start getting communication from the company. Customer-id was provided next day to check policy status online.
    2. Supporting documents (3 or 4 in count) were uploaded online in a span of next 3/4 days.
    3. Irrespective of upload status, an email with standardized content of pending documents status were sent at least twice a day. Helpdesk is of not much help here.
    4. In parallel, setup medical checkup in nearby designated lab. Opted for 2 check-up windows.
    5. Got the checkup done on the 1st window (20th August). Standard fasting blood/urine samples followed by weight and height measurement. Next echo-cardio test was followed by pressure check up and standard queries from resident doctor. And thats it.
    6. Meanwhile status keeps changing in the website from “pending documents” to “pending checkup” to “pending underwriting”.
    7. Received a “payment receipt” kind-of summary policy document over email.
    8. Called helpdesk to check policy status and was told policy document is being finalized and will be sent by post. There was an option to get electronically as well (in 3 days) vs by post (in 10 days) and both were allowed. Placed request to get electronic version. But NEVER GOT the electronic document as promised.
    9. However within next few days (2nd September) received the print policy document.
    10. Print policy document contains all the detailed questions & responses answered while applying online. It has the picture of policy holder. But no insert of the medical report.

    11. Meanwhile, I tried to register my policy online with their website. This is one horrible experience so far. Their system keep saying that policy # + my DOB is not found in their system. Calling helpdesk is of little use. They keep parroting that system is down and is being fixed. With more that 10 emails to the helpdesk-id(no ticket # provided) each time a different person (no contact #) will respond with same standard message that it is sent to concerned department.

    I understand the “printed policy document” is THE ONE AND ONLY LINK BETWEEN CLAIMANTS AND CARRIER and IS IMPORTANT NOT TO LOSE THIS DOCUMENT to expedite in the unfortunate situation of a claim.

    1. Thanks for sharing that Vetri . I am sure it will help a lot of prospective buyers of Bharti Axa life insurance.

      ANother point, now IRDA has started e-policy for life insurance and just like demat account has your stocks , even your life insurance policy will be there with companies, but this will take few months.


  149. SID says:

    hi Manish,

    I would like to take 1 crore pure term insurance – wanted to split into two 50 lakhs.

    I’m 31 and zeroed-in on three. If I were you, which two would you choose ?

    Aviva, Kotak & HFDC

    1. I would choose Aviva and HFDC !

  150. Raj says:

    Hi Manish,

    Many thanks for your detailed insight on the term insurance plans.

    My age is 24 and I am looking plan having coverage of 50 Lakhs and policy term of 30-35 years .I would like to have a policy with moderate premium and good CSR which are provided by HDFC C2P,Kotak ePlan and Aviva.I have the following doubts:
    1)I am not married now and would I be able to change the nominee details in future once the policy is in force?
    2)I could however find that medical tests are not there for amount under 50 Lakhs,which makes me think if claim would be settled without any hassles?
    3)Also,would my relocation to any other part of the country would affect my coverage if the insurance provider is not available in that location?

    Thanks for any response you give,

    1. Raj

      1. Yes, you can change nominee later
      2. Yes, it will be settled, just make sure you disclose everything properly
      3. No

  151. sindhu102 says:

    Hi Manish,

    I am looking for term plans with disability and critical illness riders. None of the popular plans seem to be providing riders except SBI( Smart Shield). I do not have an option of combining riders with health plan as i already have Religare Care Plan.
    Can you please suggest any term plans other than SBI.Also, is it preferrable to combine riders with Term plan to Health Plan? Please Advise!!

    1. Pure terms plans generally do not give you riders . Better have riders in health insurance if available or through seperate plans .

  152. Shashikant Mandal says:

    pls guide, i have a Birla sunlife dream endowment policy since June’2010 @ 1 Cr with premium of Rs. 38091 per annum, the fund value after 41 months is Rs. 14500 (surrender value is lesser by Rs. 4010. I also have a Smart Kid Policy w.e.f. 2005 with SA Rs. 4 lac.). My yearly income is Rs. 8.0 lac, am married & have 02 kids (9 yrs & 4 yrs-boys), monthly expenses @ Rs. 35000.
    1. I had thought of surrendering BSLI policy before going for Term Policy but read in this blog that 2-3 months is the period it takes for the online policy to land in our hands. I have zeroed in on @ 1 Cr – Kotak Preferred @ 16285, HDFC click2protect @ 16500 (non smoker).
    2. I used to be a smoker but I am not now, only the occasional puff with friends once or twice a month.
    Do you feel –
    Q 1. I shall mention my status as smoker @ double premium or otherwise to save in premium?
    Q2. Also guide on surrendering the current policy
    Q3. Guide on which policy(s) to buy?

    1. Shashikant Mandal says:

      Your reply is awaited
      Shashikant Mandal

    2. You are a smoker when you see yourself from insurance company point of view. I dont suggest hiding this from insurance company . Please mention it .

      You can just surrender the policy provided you do not understand how its running .

      1. Shashikant Mandal says:

        Thank you Manish for the kind guidance, have discontinued the policy


        Shashikant Mandal

  153. vasu says:

    i am 38 years old, please suggest best term policy with riders for 50 lakhs. And also Please mention the price of that policy what ur going to suggest. Thank u.

  154. amit says:

    I had a term plan from kotak mahinder for 30lac with accident & disability rider of 5lac, but I want to increase sum assured to 50lac.
    please help us which one to be buy.I had select 3 componey plans
    HDfc clik to protect
    kotak mahinder I plan
    bharti axa i plan.
    please guide me for the same

    1. HDFC click 2 protect !

  155. MSkumar says:

    Hi Manish,
    My Age is 23 single and i am wishing to take up a Term policy .Which one you suggest and pls explain briefly

    1. HDFC Click2Protect is a good option !

  156. Rajesh says:

    Hi Manish,
    I am 32 years old. I have a few endowment and money back policies from lic(total 7). I am planning to take online term insurance from HDFC. Please clarify, while filling the application form for term plan, should I need to mention the Endowment and money back policies from lic. I am aware that we need to mention any existing term plans, but not sure about the Endowment and moneyback policies.

    Also please let me know if you have any information on online term plan from LIC.


    1. Yes ,you need to mention about the existing endowment plans . Its actually any life insurance policy !

  157. Rajat says:

    Hi Manish

    I want to buy Trem insurance policy for my Wife. Policy bazaar has suggested me to buy Aegon religare Iterm plan, as it has attractive low premium rate also they claim there settlement ratio is 91% since april 2013. also it has a rider on benefits with attractive low premium. I have seen from your suggestion that you do not recommend religare instead Aviva which is 87% settlement ration. I am confused which one should be bought . Could you please advice.


    1. there is no issue with any company as far as you are truthful in giving away your info . Just pick anyone .

  158. saiyad says:

    Hi Manish,

    I heard that AVIVA is moving back from India. Is that true if yes, what will happen to the people who insured with it. I know they have 26% stake in Aviva Inda rest 76% is with Dabur.

    1. The words are still on . These things keep dragging for lot of times. I would say that even if it exits, your policy will not be affected, because it will be with the indian partner.

    2. Yes , The words like this is going on . But dont worry . Even if it happens, the policies will still go on !

      1. Saiyad says:

        Thanks Manish,

        So what you suggest now, which is the good and trust worthy company to go with for term insurance.

        1. Trust will depend on you .

  159. Mayank says:

    Hi Manish

    Great site and wonderful comments/ discussion. Here is my story:
    I’m 33 yrs old male who smokes(going to quit soon) and currently service 3 x Rs 25 Lacs SA = total Rs 75 Lacs SA term plans running from HDFC, Max life & PNB Metlife. The toal premiums I pay annually amount to Rs 22k.

    I plan to discontinue all three, and go in for the plan below:
    1. Kotak Preferred Term Plan SA 50 Lacs, ADB 10 Lacs, PD 10 Lacs, CIB 20 Lacs: Premium Rs 16.3k
    2. HDFC Click2Protect online term plan SA 50 Lacs, no riders: Premium Rs 12.1k
    Total SA: Rs 100 Lacs
    Total Premium: Rs 28.5k

    I also have another option B:

    1. Aviva ilife online term plan SA 50 Lacs, no rider: Premium Rs 8.3k
    2. HDFC Click2Protect online term plan SA 50 Lacs, no riders: Premium Rs 12.1k
    Total SA: Rs 100 Lacs
    Total Premium: Rs 20.5k
    A separate CIB policy.
    Now I don’t know which CIB plan to go for, but which plan do you suggest? Plan A or Plan B?

    Thanks in advance!

    1. I think you better go with 1 term plan only and take the riders in that plan itself. the premiums these days are lower , unlike previous years when 2 policies made sense . Option B seems to be more better

  160. Maran says:

    I’m 51 years old. My retirement age is 67. I got housing loan dues of 25 Lakhs as on date( till 65 years) and I need around 20 Lakhs for my ward’s marriage. I don’t have pension. My Gross Income is 18 Lakhs p.a. I’m diabetic under control with drugs.

    When I browse the net I find TATA AIG, Bharat Axa, Aviva being in the competitive offers.
    LIC is on the higher side i.e 400% .Yet I trust LIC comparing to other low offerers.

    Q1. Shall I go ahead with LIC?
    Q2. Is there any other to share the premium 50: 50 or what ratio?
    Q3. 1 crore is ok? or less than that
    Any professional , qualitative advice will fetch a consulting fee also from me.

    1. Hi Maran

      If you want to take insurance, you can go ahead with LIC because thats what you trust . No point in going with other companies because you will doubt it a lot.

  161. vikash kumar says:

    Hi Manish,

    I have already bought the Term Insurance 2 years back with ICICI Pru iCare worth of 50 Lakhs, currently i am looking for 50 Lakh more so should i go with ICICI again or you will suggest any other insurance.
    My Age is 30, and my salary is near about 10 Lakh.
    My concern is about the critical illness also.

    1. You can just get it increased or go with AVIVA

  162. Samarth Shah says:

    My Query is I have purchased a Term Plan on 18/08/2012 with Kotak Life Insurance for 30 Yrs and 30 Lakh S.A. Premium Rs. 4124/-. now that Aviva Term Plan offered 35 Yrs Term & 30 Lakh S.A Premium Rs. 4229/- so that should I shift KoTak to Aviva or Continued with Kotak ?Benefit of Aviva has Offered 35 yrs term & Kotak has Offered 30 yrs Term.
    What you have Suggested? I am Waiting for your favorable reply…

  163. Abhishek Singh says:

    Hi Manish,
    I am 26 yrs old & I work in a MNC. My sal is 3.5 p.a. I want to start investing from now onward and am interested in opening an online term policy and had some queries as follows:

    1) How much insurance cover should I opt for and what age?
    2) May I include my spouse after marriage in the same cover or should I open a new one for her?
    3) Should I invest in only one insurance?
    4) Please suggest couple of companies for the same.

    Thanks in Advance.

    1. 1. Take a 50 lacs cover
      2. There is nothing like adding someone in life insurance policy . If the policy is in your name, what do you mean by adding your spouse in that ?
      3. You dont invest in insurance, you buy it ! . one is good enough if its a term plan
      4. Aviva, HDFC , Kotak are good options


      1. Abhishek Singh says:

        Thanx Manish for the clarification and your prompt response.

  164. Samarth Shah says:

    My Query is I have purchased a Term Plan on 18/08/2012 with Kotak Life Insurance for 30 Yrs and 30 Lakh S.A. Premium Rs. 4124/-. now that Aviva Term Plan offered 35 Yrs Term & 30 Lakh S.A Premium Rs. 4229/- so that should I shift KoTak to Aviva or Continued with Kotak ?Benefit of Aviva has Offered 35 yrs term & Kotak has Offered 30 yrs Term.
    What you have Suggested? I am Waiting for your favorable reply…

  165. vijay gajera says:

    Hi Manish Ji
    I am 27 Year old and I want to take TERM Insurance soon. I seen in your reviews that AVIVA is a better option, actually i have shortlisted HDFC & Kotak (Decent Claim settlement ratio next to LIC. & Aviva (As Policy Bazaar Officer has told that apart from Claim Settlement ratio we have to fill the details honestly so that the company may not get chance to reject the claim). I have included AVIVA in the list as you have mentioned that it is having Accident Rider and also as you are +ve about the company. SA 50 lakh. medical check up doesn’t matter me..

    Waiting for your rational advice……..

    1. If you give right info , all companies are fine . If you are more comfortable with HDFC or Kotak – go with them – no issues !

  166. Rajat says:

    Hi Manish

    I would like to purchase an term policy for my wife who is 29 now. Which company policy you suggest me to buy.

    LIC , HDFC or any other ?
    Also am i able to buy LIC policy online which can save my premium.

    Please advice.


    1. Depends on your trust factor. I am fine with HDFC !

  167. pankaj singh says:

    Dear Manish,

    What you think about this News.
    Aviva looks to sell 26% in India joint venture.

    Will it affect existing policy holder.
    What will be implications after this.


    1. Yea its not a great news , but one should not worry much as generally its bought by someone else and it continues, the company obviously changes .

      1. Pankaj Singh says:

        Hi manish,

        Recently I purchased term plan with aviva. Policy is under consideration and my medical test is also planned on 13 aug.
        Please guide me weather i should continue or not.

        1. Its you call . Why do you think you should not go ahead ?

          1. pankaj singh says:

            My only worried about claim settlement.
            But today I was reading IRDA Rule and one rule was once you open any insurance company you can not close it.
            so I think who ever will purchase will take care.
            Am I right ?

            1. Yes, thats true . dont worry on that

  168. SanSu says:

    Hello Manish,

    Thanks for the information regarding Term insurance .
    After researching on blogs and other source of information , i settled down to HDFC LIFE click to protect term plan .
    I a 30 Years old
    Initially the offer was 75 lakhs cover without medical test ,premium paid was 12,375.00+ 2,333.00= 13,905.00 , I am type 2 diabetic age so i mentioned the same in the application form ,no surprises they asked me to undergo medical test which i did ,now they have increased the premium amount 6,497.00 so the total premium is 18,872.00 .

    I want to know is this the normal thing in Insurance industry ? , do i have options to bargain .

    Any Insurance company which may charge less then the premium offered also considering my medical history ?

    Any kind of help will be appreciated


    1. I would say jump and take it before they change my mind. You should be thankful that you are atleast allowed to take term plan . Dont take the risk of letting it go

      1. SanSu says:

        Thanks for the information
        I am in the process of filling the additional formalities

        Thanks again !

  169. Darpan Desai says:

    Hi Manish,

    First of all thank you very much for the detail article.

    I want to take your advice on purchasing Term Insurance.

    I am 28 years old. So can you please suggest a policy covering 1 Cr (online / offline) ?

    1. Aviva or HDFC click2protect

      1. Darpan Desai says:

        Thank you Manish, I was also thinking of HDFC Click2Protect.

        Thank you once again 🙂

  170. Parushram says:

    Hi Manish,

    Thanks for the article. I am 38 years old & would like to have some details on following,
    > Liability – 25 L ( Housing loan)
    > CTC- 11.50 L
    > Dependents – 3 p (Wofe, 7 year son, 4 year daughter)
    > LIC Policy – Aprox coverage -17 L ( All to gether, Self- 2 L)
    > Mediclaim from company – 2 L (each for all)
    I would like to go with a term plan of 1 cr as below,
    > 50 L from SBI life shield
    > 50 L from Kotak.
    Please advise which one will suit my requirement & some assured is ok with 50 L (25L+25L).


    1. You should take 1 crore policy from Kotak

  171. pankaj singh says:

    Hi Manish,

    After reading this page I took one term insurance of 75 Lakhs, 2 Month back from HDFC Click2Protect. I took one home loan recently arround 30 Lakhs So instead of going to insurance this loan, I am planning for one more term insurance from Aviva.
    My current yearly Gross salary is 15 lakhs so I am looking another term insurance either 75 Lakhs or 1 Cr.
    Please suggest me weather my decision is Good or not.
    One more thing i need to know as HDFC did not conduct any medical test and Aviva may be go for medical test first suppose any think comes negative than HDFC can also increase their premium.
    Pankaj Singh

    1. Your insurance is good enough or not can only be decided by you, the best way is to ask your self how your current insurance money will be used by family.

      1. pankaj singh says:

        Actually I need to know 2 things.

        1. which one will be good. Insure loan amount or Take one more Term insurance as I already have one 75 Lakhs.

        2. Taking second term insurance and after negative medical test, can it affect the premium for first one.

        Please provide me ans these 2. thanks

  172. Manmada Reddy says:

    Hi Manish,
    I am(33 year old Male) planing to take term insurance (SA : 1 crore)
    1. Is it a good idea to split and take two policies from different companies?
    2. Could you please also suggest me the best ones for term insurance.
    3. I stopped paying the regular insurance plans last year(after paying 5 years)
    (as I am taking term policy) is that a correct idea?


    1. Manmada Reddy says:

      Could you please help me to get my queries answered?

    2. 1. With premiums so cheap now, better take single policy. This was a good option earliar with high premiums

      2. There is none. I can suggest good options like Kotak , or Aviva

      3. In most cases yes .

      1. Manmada Reddy says:

        Thanks Manish.

  173. Nilesh says:

    Hello Manish,
    I have two offline term insurance purchased one yr back.
    1. LIC – cover 50L- premium 15900/- (for self 30 yr old) and
    2. LIC – Cover 15L – Premiun 4300/-(for brother 25 yr old).

    1. Should I discontinue this and buy cheap online term insurance.
    2.OR continue with this and buy another online as a additional one.(Yes, I also would like to increase the sum assured for both 1cr. for me and 50L for bro.)

    your suggestion appreciated.

    1. I would say go for additional term plan for yourself for 50 lacs and same for your Brother !

  174. CMAVandana says:

    Hi Manish,

    Your articles & analysis are really good !! as always !! Pl give ur advice on following

    I’m 25 yrs single girl, my monthly net salary is Rs. 20,080/- only, I’m planning to take a term plan my quest are :
    1] what maximum Sum assured i can get ?
    2] Should i take only 1 term plan or should i take it from 2 companies?? (split SA)
    3] Which is best term plan from below :
    a] Bharati AXA Life – E Protect – i like benefit of 1 Lac within 48 hrs at claim
    b] Kotak preferred term – as u mentioned above
    c] max life platinum protect plan – benefit i like – aft paying for 15yrs we can
    opt to not to pay with reduced S.A.
    4] One year ago i had online applied for AGON Religare i term plan, without study only with the purpose of tax saving And while filing the form i was in hurry just to take the policy in that day only to avail the benefit of tax deduction, && Mistakenly filled my weight as 41Kg only which is wrong, My actual weight is 46-48, Because of quoting 41kg i got email from AGON Religare with Higher premium , SO I have not accepted their proposal !! n not taken that policy

    NOW MY QUERY IS , While I’ll take another policy, should i need to inform about all these to NEW Company or not?? PLEASE REPLY… !!! thanks in advance Manish

    1. 1. around 50 lacs I guess
      2. 1
      3. Aviva or HDFC

  175. vamsi says:

    Hi Manish,

    I am an admirer of your posts which gives lots of information and guidance to take right decision for the people who are confused in this marketing led world.

    Let me admit that i am one of those.. 🙂 and require your suggestion.

    I am a 33 year old married and have a new born kid with both of myself and wife earning.

    I used to have a Jeevan anand policy which has been taken just to avoid taxation earlier and discontinued it and continuing with a term plan from LIC for 25 lakhs ( Amulya Jeevan) for 30 years with a premium of 9100.

    Considering my financial commitments and the house loan,i feel that i am underinsured and need to have atleast 1 crore as a protection.
    I am also looking to insure my wife for a 50L cover with HDFC.

    I am considering HDFC and SBI smart shield plans at a split of 50L-50L. Kindly advise,
    1) if this is the right split?
    2) Are the two companies fine to proceed ?
    3) HDFC or SBI for my wife ?
    4) are HDFC life and HDFC click to protect same or different ? If different which one to go for ?

    Appreciate your response.


    1. I think you should just take 1 crore with HDFC and your wife can also do that same .

      With such low premiums, now it does not make a lot of sense to split , earliar it was a wise thing . If you are taking 2-3 crore term plan , then you can split !

      1. vamsi says:

        Hi Manish,

        Thanks for your suggestion. Appreciate your quick response.

        I have checked HDFC Click 2 protect and the premium varies if i take it from online directly but if i take it from HDFC life executive who has approached me, the quote is around 450 rupees difference for a 1 Cr plan.
        I am confused which is better as both offfers same policy but the executive mentioned that he will provide service of takeing care of the formalities where doing directly online will take time.

        Kindly advise.


        1. vamsi says:

          Hi Manish,

          Thanks for your suggestion. Appreciate your quick response.

          I have checked HDFC Click 2 protect and the premium varies if i take it from online directly but if i take it from HDFC life executive who has approached me, the quote is around 450 rupees difference for a 1 Cr plan.

          I am confused which is better as both offfers same policy but the executive mentioned that he will provide service of takeing care of the formalities where doing directly online will take time.

          Kindly advise.


          1. Because in offline case, some small commission will be paid to the executive and he will get commission . I think if you want personal service in all formalities, better go with executive !

      2. Chandra Mohan says:

        Hi Manish, Don’t you think splitting will help in claiming. for instance if one of the insurance house is rejecting may be other one will not reject.

        1. Yes, that is possible . But not a lot help . I mean one will reject on some grounds and mostly it will be true for other also !

  176. Vikas Verama says:

    Hi Manish,
    i want to clear one point :- i am married and my wife is also working , also we have not any child right now. so if any thing will happen to me , will my wife get the entitled sum assured? as my liabilities are very low .

    1. Only if she is the only legal heir . right now in absense of will , your mother and your wife are both legal heirs !

  177. Mahesh says:


    Not sure if this thread is still active.
    This post helped me a lot to understand nitty gritties of term insurance.
    I am 35 and looking for a term insurance of 50L. I have narrowed down to Aegon Religere, just for 1 reason. It offers 40 years plan. So, this plan continues even after my retirement with same yearly premium and covers me till I am 75. I think getting covered till 75 is a big big bonus for my family.
    I am a non-smoker and dont have any health issues. My parents are healthy and infact my grand parents are healthy. So, there is nothing for me to hide and hence claim settlement shd be not complicated.
    Am I thinking in right way?

  178. Puneet says:


    I want to buy a online term plan & i am 27 years old
    (1) Which is better Aviva i-life or ICICI prudential i care in over all measures?
    (2) Shall i go with LIC Amulya Jeevan of 25 Lacs along with 25/50 lacs of Aviva/ ICICI (as both Aviva & ICIC are private company and LIC is govt run with better Claim settlement ration)?

    Please help me in selection of policy…..



  179. Puneet says:


    I want buy a online term plan, i am 27 years old.
    (1) Which is better aviva ilife or ICICI Prudential i care in overall measures?
    (2) Shall i go with LIC amulya jeevan of 25 lacs along with 25/50lacs of Aviva ilife/ ICICI i care. ( as both Aviva & ICICI are private company & LIC is more reliable in term of Claim settlement ratio & it is Govt run)?
    Please help me in selection of policy……


    1. Just go for 1 crore term plan from Aviva !

  180. Vibha Tiwari says:

    Hello Manish,
    Thank you for such elaborate and worthy article on insurance plans. I am a 30 year Female, Doctor, with monthly income of Rs. 80 thousand / month, looking forward to buying a term insurance policy of atleast 1 crore. Want to know which one should I buy? whether single or two policy from two different companies, and from which two? online or offline? I have hardly any experience with these companies or their services. Kindly guide me to facilitate my decision.

    1. Just go for 1 crore term plan from Aviva

  181. Lilly says:

    Hi Manish
    Very informative blog. Kudos for your efforts to spread awareness on various aspects related to insurance !

    I took an online policy (i Life) from Aviva and made payment online on 9th May 2013. After medical investigations, my case was cleared on standard rates on 21st May and the date on which the risk commenced is 21st May. However Aviva says that my next premium date is 9th May as it is calculated on the basis of 1st premium date. I have tried to reason with them that next premium date should be 21st May 2014 i.e. on the anniversary of the risk date. But they are not agreeing. Am I right in saying so ? If so how can I make them to correct this ?

    Also if I go as per Aviva, my policy will lapse on 9th June 2014 (if I don’t pay premium on time) i.e. only 18 days after my anniversary of risk date. Shouldn’t this period be 30 days ?


    1. It starts from the payment date , dont argue on this as its a standard thing !

      1. Lilly says:

        Dear Manish
        Thanks for y0ur reply.

        The actual issue I have is not with the payment date, but the duration of risk. The policy states the maturity date as 9th May 2033. So if my risk cover starts on 21st May 2013, the cover provided to me is not complete 20 years, but actually 12 days less then that.

        If I have taken a policy for 20 years, the risk cover provided to me should be for complete 20 years. Am I right or wrong ?

        Thanks MSK

        1. Now that would be your personal way of looking at it . I am fine with that level of imperfection , because I personally think it makes no difference . However you can think differently , if its helping you, then follow up with the insurance company

  182. satish says:

    Dear Mr. Manish,

    I hold a term plan which I had taken in 2005. That company issued me the plan after ensuring my health conditon. Now I am 39 years old. In case of any health issues in future (during 40’s) do I have to declare the same to the company? Is that mandatory? If yes, can they increase my premium. What will happen if I don’t declare.
    Kindly clarify.

    1. No you dont have to declare anything to them !

      1. Satish says:

        Thank you Manish for your quick response

    2. No you dont have to declare anything after taking the policy !

  183. Muthukumar says:

    Hi Manish
    Nice article. Let me share my experience with Aviva i life online term policy.Everything was nice until I got a mail stating that my premium was hiked 50% as they diagnosed me having diabetes according to my medical synopsis. I got a copy and found that my sugar values were quite normal! I asked Aviva for specific answer to my query that how they decided I have diabetes. They replied now that I am prediabetic! as i had impaired fasting blood glucose.My medical synopsis sent by Aviva reads my fasting blood glucose as 80mg/dl which is very much normal.Again qoting the values I asked what value is considered normal by Aviva.They replied again by cut and paste the same words they sent earlier without stating specific values. I am clear that my health is very much normal and I dont want to be fooled .What should I do now Manish?

    1. Hmm.. what you should then do is apply in other companies and check with them on premium .

  184. ANKUR says:

    Manish-Between Bharti axa and Aviva which would be a a better choice?

    1. Aviva would be my choice . However Bharti Axa is also good !

  185. Nikhil says:

    Dear Manish,
    Is HDFC Click2 protect good , soi can take 1Cr insurance coverage for 25 yrs??

    I had taken a term plan of Birla Sun Life last year during Sept 2012 for 40 Lakhs sum assured with the yearly premium being near to Rs 8000. I always felt that i need a larger cover of around 1 Crore and after calculating as per your 2nd book “How to be your own financial planner in 10 steps” i am pretty much sure i need a larger one for my family. I already paid a one time annual premium and i used to smoke at that time(so high premium). Now am a non smoker since 6 months, So what should i do now?
    Should i stop the policy and buy a new one of 1 Crore or should i buy a second additional 60L policy? and if so from which company? Am really confused. Kindly guide me Manish.

    1. Actually just because you stopped smoking does not mean you will be counted as non-smoker. AS per life insurance company – “Once a smoker, always a smoker” is the rule. so if you do not tell the truth , it will be seen as fraud. So first check now much is the premium for you for 1 crore and 60 lacs. If taking additional 60 lacs + your existing one is same is 1 crore premium, then just take another 60 lacs.

  186. Abhijeet Khadikar says:

    Hi Manish, Even I am also looking for split term policies
    1 ) LIC (25 lakh SA)
    2) Bharati AXA or HDFC click to protect 50 lakh SA. While comparing Bharati AXA looks good in term of family covr benefit, claim processing , premium and also claim settlement ratio in comparison with HDFC for last 3 years .how ever over al if I see claim setlement ration of HDFC life is good. So any suggestion should I go with Bharti AXA?


    1. I dont see much issue , go with Bharti Axa

      1. Abhijeet Khadikar says:

        Thnx Manish

  187. SS says:

    Hi Manish!
    Excellent Post and a very timely one as i make up my mind on which term plan to go for.
    I intend to go for HDFC Life (online) for 75 Lakh for 25 years (age 37), which without riders would require a premium of Rs.11,700/annum (as of today).

    My queries are:
    1. IRDA data combines the claim ratio for both ‘claims linked to death’ and ‘maturity’ (if my interpretation is correct). Do we have any reliable data specifically for ‘claims linked to death’.
    2. How does taking riders (like critical illness) with the term insurance compare against taking separate medical insurance?


    1. SS

      1. no data for only term plans , you might get the data for death claims but

      2. Taking seperately will give more options

  188. Naresh says:

    Hi Manish,

    Need your advice.
    I am 45 working in Pvt. Bank. Recently I have discontinued my endowment policy from Metlife and willing to take a term insurance preferably from Aviva (as suggested by you in earlier posts) for atleast 50 L. I have two kids my daughter in graduation and son in secondary. I have assets in form of property availed thu loan. All the loans except Home loan of 45 L are paid off. I neither smokes nor drinks , however I chew tobacco. Unfortunately chewing is not mentioned in online form of Aviva.
    Should I go for 50 L so atleast Loan liability is covered
    What should be the period 15 , 20 or 25 and
    Is Aviva is good choice .


    1. Naresh says:

      Sorry i missed that my CTC is 13 L

    2. It should be 15 yrs

  189. shailesh says:

    Dear Sir ,

    I am 25 yrs old male and have an annual CTC of around 4.2 lacs . Also i’m a non smoker and a non drinker , actually was planning to take a term insurance of 1 cr from two companies ( i.e 50+50) , looking at the last yr claim settlement ratio can u plz advise me the best 2 companies to look at ? Also should the plan be online ..?

    1. yes, go for Aviva or HDFC !

  190. Shine says:

    Hello Manish

    Iam a seaman nd work on a cruise liner ….Iam on the ship for six months and home for two months ….am I ok to get a term insurance plan..
    Please advise….

  191. dr mithun says:

    hi sir
    I just purchased a online term insurance icici term insurance of 50 lakh with a premium of 9880 rupees . was it the right decision or should I cancel it and go for LIC. little worried about private companies now after reading ur article

    1. Dont worry .. its fine . But make sure you are very sure before taking action

      1. dr mithun says:

        thank u

  192. divakar says:


    As of today, I have only 2 policies for 3 lakhs and for my son, i have very high with LIC again and pay premium of 67k per year.
    I would like however still go with term policy for 1 crore.
    Could you please suggest whether Kotak preferred is worth to go?

    1. You can take term plan from any company , no preference

  193. bhushan says:

    hi manish ,
    1) i am working in merchant navy as engineer . i live in india and i only go out for 6-7 seven months on ship . will i be considered as NRI by insurance company or resident citizen . BY working outside India i get NRI status and i hold Nre account in india.(note : i live in india and my home address is in india .outside india i have no address . i stay on ship )
    2) i selected two term policies one is jeevan amulya and other one is hdfc term insurance with all types of riders .is it a right decision .
    3) my question is will accident benefit will hold true if i meet some accident on ship ,when some thing happens to flight in foreign country or if something happens in foreign country .?
    4)is jeevan amulya covering death occurring from terrorism , act of god .accident by traveling in public convince e.g.. train ,bus ,flight.?
    5) how many times The SA value should be of annual income ?

    1. Most of the companies will be hesitant to give you policy . As your job is risky . Meet some offline advisor for term plan and he might help you

  194. Hitesh says:

    Hi Manish,

    I plan to take term insurance policies for 4 members of my family. Kindly suggest which ones will be the best(i have also mentioned existing Policies amount) –also suggest what would be the (a) ideal amount (b)ideal tenure (c)ideal policy

    1. Male, Age :30 yrs, Non-Smoking, Occ. Drinking (Policy coverage through L.I.C coverage upto 49 years – 10 Lakhs)

    2. Male, Age :25 yrs, Non-Smoking, Occ. Drinking (Policy coverage through L.I.C coverage upto 54 years – 12.5 Lakhs)

    3. Male, Age :23 yrs, Smoking, Occ. Drinking (Policy coverage through L.I.C coverage upto 57 years – 12.5 Lakhs)

    4. Female, Age :26 yrs, Non-Smoking, Non-Drinking (Policy coverage through L.I.C coverage upto 52 years – 15 Lakhs)

    1. Which one these 4 are earning members ?

  195. RK Rawal says:

    Hi Manish,

    First of all thank for all information you provide via these blogs. I recently bought Aviva ilife 55 L @ 7601 pa.
    While looking for term plan i found in one other blog that all private companies are quite new to insurance sector (mostly started after 2000) and that could be one reason of low Claim settle ratio of these. As claims are more more thoroughly checked in early death cases. What is your opinion on this?


    1. Yes, thats the only reason .. there is no problem with Aviva .. go for it

  196. Abhilash says:

    Unfortunately, there is a database error when I submitted my comments few min back but I’m not giving up as there is one important thing that is not discussed here.

    I mostly agree with Manish’s views but there is one topic which didn’t get enough attention.

    While we are worrying about the buying power of sum assured after 30 years, we also have to remember that our premium burden will also reduce due to inflation. So if 1 crore becomes 22.5 Lakh after 30 years, our 10000 premium will become 2250 after 30 years. 🙂

    1. Abhilash

      Yes thats correct Abhilash

      The post is for you to interpret in your own way and you are free to move ahead as per your views 🙂

  197. Ram says:

    Dear Manish,
    I have been paying premium thru an agent for a term plan assured of 1 crore. I have to renew my policy by paying around Rs. 24500. I understand that policies are much economical thru online. My current age is 39 years (30.08.1974). Can you please suggest me an appropriate policy that is available at better cost.


  198. swetha reddy says:

    why different insurance companies offering different premiums?what is the main difference?

    1. their way of pricing the premiums

  199. Nilofar Sulaiman says:

    Hi Manish,

    I am working in MNC and I have a loan of 5Lakh and planning for a loan of 30 L after 3 years….please suggest me good insurance plan..

  200. S.K.MITTAL says:

    please suggest best term insurance plan for covered Rs. 50 lacs at the age of 47 for 25 years.
    no usages of tobacco/drinnk

    1. Adil says:

      hello sir,
      If u are looking for a term plan for Rs 50 lacs of sum assured, i would suggest you to go for 15 years of paying term.
      for more detail u can contact me on 8800128234.

  201. GIRISH K says:

    Hi Manish,
    Iam 36 yr old,.six months back applied click 2 protect plan from HDFC.Where premium was nearly 8,000/p.a for 50lk cover.,after medical test the premium was doubled. stating the reason that future diabetic problem. Iageerd to pay the premium.But asked some questions regarding claimratios and also the medical reports wich I have undergone(where i agree to pay the price of medical examinations), with every day follow up for a month there was no reply. Then Idecided to drop it .Because of excellet service? of Hdfc. Now Iam planning to buy LIC jeevan amulya(offline plan) even thogh premium is high.Is there lic online term plan as per ur knowledge in near future. Now i am in delemma to wait for online plan or to go ahead with offline plan.

    1. Better go for offline plan in that case, because online term plans might not come .


      1. girish k says:

        thank you for ur early reply and suggestion.

  202. Dhananjay G says:

    Hi Manish,

    I am a 34 yr, Male, non smoker. FIrst of all a very nice article. Thanks!

    You were suggesting Kotak Preferred and also Aviva. You said Kotak Preferred because it has a low premium and high settlement ration (92.5%). But if i see HDFC then it has even lower premium but much high settlement ratio than Kotak. If I am not looking for any riders, should I go for HDFC then instead of Kotak. Aviva has below 90 % settlement ratio, so I did not get why you were suggesting it. Maybe you can say few words which will clear or doubts.

    I have taken many services from ICICI (demat, bank a/c, locker etc) so even for a bit more costly premium, given that it has very high settlement ratio and a very good solvency ratio, I was thinking how ICICI Predential compares with HDFC (other than cost).

    Finally question on accident and health riders. My opinion is that one should take a straight and simple term insurance with no riders and then a separate and good health insurance covering these things. Is this a good approach? I have a Mediassist health insurance, is that a good one.

    1. In that case you can go with HDFC

  203. K P says:

    Hello Manish,

    I am 31 year old and I had a Birla Sun Life Dream Plan…I am planning to make a shift to pure Term Plan and additional CI plan. I am confused on which one to go for.

    Requirements : 1 cr cover Term Plan
    5o lakhs CI Plan

    Could you please suggest which one should i go for…Do you think AVIVA and HDFC Life are good companies ?

    1. ICICI would be good

      1. K P says:

        Any specific reason why you suggesting ICICI over AVIVA…

        1. Its not like that , anyone is fine

  204. Hitesh says:

    Hi Manish,

    I plan to take term insurance policies for 4 members of my family. Kindly suggest which ones will be the best(i have also mentioned existing Policies amount) –also suggest what would be the (a) ideal amount (b)ideal tenure (c)ideal policy

    1. Male, Age :30 yrs, Non-Smoking, Occ. Drinking (Policy coverage through L.I.C coverage upto 49 years – 10 Lakhs)

    2. Male, Age :25 yrs, Non-Smoking, Occ. Drinking (Policy coverage through L.I.C coverage upto 54 years – 12.5 Lakhs)

    3. Male, Age :23 yrs, Smoking, Occ. Drinking (Policy coverage through L.I.C coverage upto 57 years – 12.5 Lakhs)

    4. Female, Age :26 yrs, Non-Smoking, Non-Drinking (Policy coverage through L.I.C coverage upto 52 years – 15 Lakhs)

  205. Nikhil says:

    Hi Manish,

    First thanks for the articles.
    I have 1 query regarding claim settlement ratio. The given ratio are for the year 2011-12. After 5-10 years Does these ratios (ranks) will be same? if not then in that case Suppose I have taken a term insurance from X company for which claim settlement ratio is good in 2012, But after 5-10 years for that company claim settlement ratio is not good. What to do in that case?


    1. How does it affect you . Ratio is nothign but a number . How does it affect your claim if you have given all the correct information ?

  206. Rajat Singh says:

    Hi Manish,

    All term policies ask for Smoke: Y/N.
    I smoke very rarely and not sure if i will smoke more frequently in future or quit smoking.
    What option i should check.


    1. Once a smoker, always a smoker – This is how companies look at things. Mention that you are smoker.

  207. Ashish L says:

    Hi Manish,

    Good Afternoon. After reading through the article, i plan to buy a term plan. My current age is 30 years, and i plan to buy the term plan for next 30 years (till age of 60). This decision was taken, thanks to your another article “WHy not to invest till 75 years).

    I plan to take Aviva i-Life Term Plan for sum assured of 100lakhs. I am a non-smoker, no other disabilities. The present premium on their website for 100 lakhs is 7965 for male and for female is 7566. I plan to buy term plans for both wife and myself as we both are earning members of our family.

    Can you suggest if this plan best suits our requirements and does it cover riders like AD (Accidental Death), CI (Critical Illness), DR (Accidental Disability Rider), WP (Waiver of Premium). If yes, well and good. If not, are these riders required for us?

    Thank You and awaiting your reply.


    1. Yes its a good plan , but it does not have any riders . But thats ok , do you really need riders ?

      1. Ashish L says:

        Hi Manish,

        Good Morning. Thank You for the quick revert.

        Hoestly, it does not matter to me if riders are included or not. Just a fact that others are providing, i though to clarify it with you 🙂

        For eg: God forbid some CI happens to me. Will Avova pay the sum assured to my family?

        To conclude, i and my wife will go for Aviva i shield through online channel. Correct approch?


        1. Riders make policy more complicated and pricing tough . Thats the reason not all companies have them , Its just a choice they have.

          They will pay the money to nominee or legal heir .

  208. amit gupta says:

    hi manish

    i m working in mnc , i m smoker & drinker , i want to purchase 50 lacs to 1 crore term insurance plan. i m 32 years married and i have a 2years boy, kindly sujjest which plan better for me also suggest me online or offline
    if offline then which plan
    if online then which plan

    1. Online plan is fine for you .. just take Aviva

  209. Abhijit says:

    AVEVA Exclusion –

    No benefit amount will be payable if the death of the life insured has occurred directly or indirectly as a result of suicide within one year from the date of commencement of risk of policy and in case of reinstatement of the policy, from date of reinstatement.

    What does this really mean?

    1. It means that if you do suicide in 1st year of taking the policy, the sum assured will NOT BE PAID , but after 1 yr, it will be PAID

  210. Srinivasan says:


    I’m looking for good term insurance which could give me coverage of 1Cr + reputed in market for prompt settlement in eve of risk.

    i enquired on amulya jeevan (found to be costly). enquired with aviva. but couldn’t take decision on that.

    can you please provide thoughts to help getting to conclusion ?

    P.T. Srinivasan
    98401 25600

    1. I would have gone with AViva

  211. KISHORE KUMAR says:


  212. Sandeep says:

    Hi Manish,

    tks for sharing wonderful in-sight for term ins. it’s really helpful.

    Need your help to decide on my existing policy of Birls sun life. I have Birla dream plan, where am paying 26,000 p.a., having sum assured of 50L. this is Term +ULIP plan, where 8,900 going towards term plan.

    Now problem is that in 8,900 am getting only 50L as sum assured. however there are policies in the mkt who are giving 1 cr cover in approx 12-15,000.

    am want to switch over the Birla policy. pl. suggest any good policy for 1cr

    1. Yes, it makes sense to take a new plan now as the pricing is better now . You better take the new term plan and then stop this ULIP . Aviva or HDFC are good one’s

  213. Hetav says:

    A query on claim settlement ratio.
    Consider an example – If I furnish all my details as is and all my medical check up is done by the insurance provider, stil can there be any chance of rejecting a claim?

    I queried likes of Aegon,HDFC etc and they all say that if medical check up is done and all other details are fillled up correctly, then claim settlement won’t be an issue.

    1. Yes, it will never be an issue

  214. VIJAYA KUMAR V says:

    Dear Manish why did the premiums for online term plans is very low compare to offline and why is the huge variation in comparing to all companies we trust the companies which is offering low premiums.

  215. Achut says:

    Dear Manish,
    I am planning total 1.5Cr term insurence where in 1Cr from Aviva and 50Lacs from Bajaj Allianz with ADB rider(which is also

    providing premium weiver incase of permanent disability). However the base cost of Bajaj Allianz iSecure it self is quite

    high(double that of Aviva) however the rider premium is not that significant. So the overall cost of Bajaj is coming high.

    Is there any other company provides the premium weiver rider for disability in lower overall cost for 50lacs of SA & 24Lacs

    of Accidental Disability? Based on my serched, I could only find Birla SL term policy which provides similar rider, but

    overall cost is very much high as compared to Bajaj. Please suggest. thanks

    1. WHy dont you take plain vanilla term plan and take the accidental plan seperately !

  216. PAVAN says:


  217. Mathew Basil Kalapurakal says:

    Hi Manish,
    First of all, I am planning to take kotak e preffered term plan for 50 lakh for 30 years. I heard its an old plan and service is not good. Is it a good option to go for the same and do they have a good service?
    Also, I want a help in filling their application form. I am not a regular consumer of alcohol , but occasionally, like once in a month, I used to have a beer. When I check through the document, i saw options like, non alcoholic / need to specify consumption everyday , and we cant say a fractional number like 0.1 (number of pint beers – 1 is the least). What answer I need to provide, can I say No or if yes, will my policy amount shoots up really huge, Please guide me,



    1. Mathew

      You can go with them .. there are at times when it messes up and some cases have bad experience, it happens will all insurance companies . Hope for the best .

      Regarding Alcohal point , What I know is that once a alcohalic , always a alcohalic, you should mention YES there , but I suggest talk to their customer care also once .

      1. Mathew Basil Kalapurakal says:


  218. Sathish Kumar says:

    Hi Manish,
    Your blog is excellent. I am a great fan of jagoinvester and continously reading this blog for long time.
    I just want to take a term plan of 1cr (more than that also fine to me).
    I am 30 yrs old, married with 3 years kid. I neither smoke nor drink and no history of diseases. I have a loan amount of 10 L and in future will be taking another loan of 50L. Kindly suggest me good term plan which suits to me? I just require a plan with good claim settlement ratio (ofcourse we are taking term plan for this reason alone in case of something happen). Also riders should cover Death (both normal and accidental) & Critical Illness which i can think of.

    Kindly suggest me a ideal term plan of my requirement above.


    1. You can go with HDFC Click2Protect !

      1. Sathish Kumar says:

        Thanks a lot Manish.. Got a quote of 9800 thro’ online.

  219. NeedYourHelp says:

    Hi Manish,
    Need your opinion..
    I have taken SBIlife(SHIELD Plan C – 50% Incr every 5 yrs.) for 50L for 25 years.
    The Accident and disability rider is for 20L for 25 years. I am paying premium of 38,000 annually( 35K for base, 2K for accident rider and 1K for premium waiver).As i have already completed 5 years, my sum assured for base cover is now 75L(will become 1Cr in 3 years).
    Should i surrender this policy as it is too costly. As i am already with this policy for 5+ years, it now covers the existing illness also.Are there any other points to consider before switching?

    1. I think you can now switch to other policies. This policy pricing was very high when it came . Infact I myself had this policy 🙂 , but now I am not with them !

      1. NeedYourHelp says:

        Thanks Manish..

  220. Kevin says:

    Thanks a lot about all the information provided about term insurance. Have a question for you
    In case of birth parent being different from legal parent , who’s name needs to be mentioned while providing details to the insurance company ?
    In the candidates birth certificate , the name of the birth parent is mentioned .But since then they have passed away due to ill health. All other current documents have the names of the legal parents.
    Kindly advise.

    1. I suggest putting name of those who are there in the birth certificate

  221. Aditya says:

    Hi Manish,

    I am grossly underinsured and very confused on how much I need to be insured and how to re-structure my existing LIC policies. I feel they have very high premium and very low Sum Assured.

    Current LIC policies
    I have 4 LIC policies with a total annual premium of Rs. 35,000 and a Sum Assured of only 10 lacs in all (Jeevan Saral (Annual Premium – 13k), Bima Gold Plus (Annual Premium -7K), Jeevan Anurag (Annual Premium – 4K) & one another (Annual Premium -11K) only). These are all endowment policies and not term insurance.

    I need to re structure my insurance portfolio (make some of the LIC policies paid up and take another term insurance) so as to increase my cover which is currently low.

    Family – Mom ,Dad (both retd.) , Wife (working) & planning for a kid
    Age 29

    Kindly suggest on how to go about re-structuring it and what term insurance would you suggest

    Thanks in advance.

    Warm Regards,

    1. Aditya

      I suggest you read my 2nd book . In the 1st chapter I have clearly shown how you can restructure it . In a quick answer , I can say that stop all those polices and get a term plan

  222. Prithvi says:

    I have taken Bharthi Axa e-Protect for 1 cr. Process is good and with in 10 days they issued policy.

    1. Thanks for letting us know that Prithvi

  223. Abhishek says:

    Hello Manish,

    I am 30 year old and want to take term insurance plan of 1 crore .I want this to split into two 50Lakh-Online term plan and 50Lakh -Offline term plan
    Which online and offline plan is good in and is this good way of mixing online and offline term plan

    1. You can take it from Aviva and HDFC , you can right now go with just 1 company . with 2 companies you always have that conveniance of stopping the policy when needed for a lower amount .

  224. rajendra says:

    Manish Sir,
    A great thanks for ur valuabl guidance.
    I am 39 yrs old having salary income of 2.5-3 lakhs. I had taken home loan from Axis bank of 8.5 lakhs. My investments in lic, RD, mf etc. is about monthly 5000. Please suggest me a good co. for term plan of 30-50 lakhs on which I can rely ?
    Thanks u so much !

    1. You can go with Aviva

  225. Amit Raichura says:

    Dear Manish,

    Thanks a ton for this really useful article.

    Me (35 yrs) and my wife (35 yrs) are both working with a joint monthly income of 1 lakh. We have also recently got a housing loan of 60 lakhs. We have finally decided to go for a term plan, but not sure which of the below options we should go for:

    1) A joint term plan with a combined coverage of 1 crore (if either one of us passes away, the other gets the lump sum). Don’t know, which companies offer such plans?
    2) Buy 2 separate term plans (60 lakhs & 40 lakhs) for each one of us.
    3) Should we also consider covering our home loan payments with our above term plans or do we need to buy a separate home loan insurance?

    Can you help me out here? Thanks in advance.

    1. 1. There are no joint term plans

      2. Yes

      3. You can mix it with term plan ..

  226. Mahesh says:

    Whether Aegon Religare is a trusty company and after 45 years whether this company will be available to settle the claim. Like wise whether Aviva, HDFC, ICICI can be trusted for long duration of 40-45 years.

    1. If you trust IRDA, then you have to trust them as well

  227. Manish Narula says:

    I have this question in my mind, is it possible to have two term plans 50 lacs each from two different insurers? And, in case of mishappening, both of them will process the claims? I am asking this as I am wondering, during the claim process, if original documents are required, the document since it is original, can be submitted to only one insurer not both. Same goes with health insurance, where hospital receipts, etc are to be submitted in original.

    1. Yes both will pay, you can submit originals to one and the xerox to other with declaration from 1st insurer , that the original documents are with primary ..

  228. sharavanan says:

    Your initiative is very good. I am 40 yrs old, male nonsmoker. I want to take 50 lakh term insurance. Please suggest the best company and low premium.

  229. Venkatesh Iyer says:

    I am 37 years old and was for looking for a Term Plan with a cover for 1 Cr. I have been suggested by my financial advisor that I go with Aviva Lifeshield Advantage (Sum assured 50 Lakhs) premium amount Rs 25741/- ,Coverage Term 28 Years and Kotak Preferred Term Plan( sum assured 50 Lakhs) premium amount Rs 14045/- , Coverage team 28 Years..please suggest if the split and the plans are OK.

    1. Why that plan from Aviva ? Why not a pure term plan ?

      1. venkatesh Iyer says:

        Agreed…however I did not ask it to the guy who suggested that to me…but I think that makes sense…when the requirement is only coverage…why think of returns or investments!!

      2. Venkatesh Iyer says:

        Manish..done that…and now its a pure Term plan..the premum came down almost by 50%.. Now have lot of LIC policies collectively giving me a Sum assured of 10-12 Lakhs…worth revisiting all of them and probably surrendering them….I would use that money instead to pay the prepayment for my housing loan..or increase my EMI which will directly reduce my Principal….I think I will now need to look at a home loan article from you if available ?

        1. Yea .. which article you want to read. . all the home loan articles are listed here http://www.jagoinvestor.com/category/loans

  230. vijaya says:

    I am 34 years old and working professional having medical cover from icici for my entire family. i have to buy term insurance for 25 years for 50 lakhs/icrores cover. please advice should i split the plans betweeen two different companies seeing the CSR and Solvency ratio.
    HDFC & ICICI Pridential or Kotak.pls advice. (Non smoker and non drinker).

    1. Just take it from Kotak or Aviva

  231. Sundeep says:

    Dear Manish,

    I am 45 year old and looking for a Term Plan of Rs. 50 lacs for 20 year term. I have shortlisted Bharti Axa, Religare Aeogon and Aviva. Kindly advise service and CSR wise which will be the better one.

    Best regards,

    Sundeep K Dutta

  232. guneet says:

    how are you?
    i am a 32 years old diabetic female …well want a 50 lakh online term insurance cover for myself.can u pleaase advise how beneficial this term plan will be for me and what will be the premium and which company??

    thanx in advance for your valuable inputs!!


    1. Benefit is that your family will be covered in case of eventuality, what other benefit you need ? go with aviva

  233. Mohammad Salim says:

    Hello Manish I am a 35 year old professionl married and had a 5 year old son having no insurance policy in my name. I save only 5000 per month. I am interested in term policy and high return policy. plz. advice.

    1. You need to seperate both of them .. take a term plan and invest in SIP mutual funds

  234. Kunal Shah says:

    Hi Manish,

    I was wondering, why iRaksha of TATA AIA (regular pay term plan) was not covered in the list. How would you grade the product in comparison with HDFC click2protect, Aviva (term plan)?
    The two stark benefits that I see is the coverage tenure of 40 years (up-till max age of 80) resulting in extra benefit of 5 years when compared to other well-known products. The other benefit is ownership of Tata sons (of 74%) in the entity (rest owned by AIA) resulting in moderately enhanced reliability in operations.

    Request your comments..

    1. Its because when this article was done , that term plan was not into the market . I cant say if its good or bad, but the reason you have put are not convincinng enough to suggest that this is better.

  235. Vinu says:

    Hi Manish, Thank you for your valuable information provided.
    I would like to get your advice for selecting new policy. Plan to go for 1 Crore (Have any benefits if go for 2 policies) and age of 40 yrs. Working abroad and annual income of 30 lakhs and no loans. Regularly doing medical check up and present health condition is normal, non smoking&non alcoholic. Parents has diabetics and father had been undergone heart attack (passed way at age of 65). Awaiting your updates.

    1. You can look at the offline term plans, because you are NRI . Consider Kotak or SBI

  236. Rahul says:

    Hi Manish,

    When would we expect the claim settlement ratio data for 2012-2013.
    Have you any update for LIC online term plans activation.

    1. I dont think LIC term plan will come anytime soon now . the 2012-2013 will come in 2013 end only !

  237. bhupati says:


  238. NiRav DoShi says:

    Hey Manish Thanks for such informative article. Please let me know whether SBI Term e-shield has medical tests. I want to buy an online term insurance with compulsory medical test. I already have HDFC click 2 protect and kinda trust the SBI brand name.

    1. Once cant say like that . generally above 50 lacs , medicals are done , not below that

  239. Hitesh Dave says:

    Hello Sir,
    I am 42 years of age, recently I had taken 2 home loans both from Axis bank with loan protection cover from Max India, Now when I am trying to buy a term plan, it is asking wether I am having home loan or not ?? what should I opt for.. ?? Pls. guide.. as the total loan protection is for 38 lakhs and I want a life protectio term plan of 75lakh to 1 crore, I am salaried person and my annual income is 12Lakh
    With best Regards,

  240. sreedevi says:

    Hi Manish,
    I am 29yrs old with 3 yrs old son.My husband is 30 yrs old.I am looking for a term insurance for my husband as he is not interested in it.Plz do suggest which one is the best..

  241. sreedevi Rajkiran says:

    Hi Manish,
    I am 29yrs old married with 3 yrs old son….My husband is 30 yrs old .I am planning to take up a term insurance for my husband .Plz do suggest which one shld i opt for…

  242. Vivek Porwal says:

    Hi Manish,

    I am having a term plan of LIC sum assured 30 L and need to take one more term plan sum assured of 30L.

    I am confused among LIC,ICICI & HDFC.
    I believe Medical tests should be performed while taking the term Plan .ICICI doesn’t take any medical tests.

    Please suggest which one should i take ?

    1. Most of the companies will not do medicals for a lower cover

  243. Loganand says:

    Dear Mr. Manish,
    Wonderful initiative. I am very happy to read your article. I am now 40 yrs old and planning to buy a best term policy, and also I want to invest (either MF or anything else) and save (PPF or RD).It is better to be late than never:-). My earning is only Rs. 40000/pm. I want to invest Rs. 20000/- from my earning. Pls advice me with your valuable suggestions.

    Thanking u in advance.

    1. Yes, you should start your SIP’s in few mutual funds and also start a RD !

  244. Nirav says:

    Hi Manish,

    I am 28 yrs old with Diabetes. When I contacted HDFC for a term plan of 1 crore they initially gave a figure of 11000+ as the premium. But after medical tests they have updated it to 24000+. Is such an increase expected? And should I consider others against HDFC? If Yes, which ones do you suggest.

    Thanks in advance

    1. Diabetes is a serious Issue . Hence the increase in premium is justified , it was from 11000 to 24000 . All you can do is try with other insurer to see if the increase they put is lesser or not . Its 100% sure that they will increase the premiums , but your bet is how much , Given your situation , I would say go for HDFC itself , you have to pay higher as you are more riskier than other customers . accept it .

      1. Nirav says:

        Thanks Manish,

        But when others like Aviva or Bharti AXA offer the same benefit for lesses premium, shouldn’t we go with them? As I have understood, the CSR doesn’t matter as long as you declare everything correctly. Then what should be the basis of going with HDFC at additional premium.


        1. Nirav

          yes, true .. You can go with anyone company and as long as you declare everything truthfully , you cant be assured that the claim will be paid .

          But you have to understand two things very clearly now .

          1. Any plan you take from any company , because of your diabetes , your premiums is going to increase for sure, Some company will raise it more and some will raise it less, but its going to be a good increase . You can expect a 100% – 200% increase depending on the company and the way they look at the matter, Incase of HDFC its close to 130% increase from 11,000 premium . But if you now go with any other company , lets say AVIVA and say their base premium is Rs 10,000 and lets say they increase the premium to 25,000 , then what do you do ?

          2. Also understand that in every term plan form , there is a question like – “Did any other company raise your premium due to some reason ? ” , you will put a YES ,there and thats a alarming signal for the company and they might increase the premium further .

          All I would say is do not get attached to 2,000-3,000 here and there, these are all action-blocking points , will your life really change if you save that 2-3k . I would say if you are getting it from HDFC, go for it , thats my personal opinion. You can take the risk of applying with other company , The premium there can be less or more , thats on you now , how you want to move forward, but in any case, expect to pay more than 20,000 per year because of the diabetes !

          I hope you got the direction 🙂


          1. Nirav says:

            Thanks Manish,

            That did clarify the issue and will surely help me take proper decision.


  245. ashu says:

    hi Manish

    feeling enlightened aftr reading ur comments / blog. Thanks. i am 47. looking for term plan. SA 25 L. Tobacco chewer. suggest the best. except for one or two nobody offers for a period more than 70 years. should i go for AR which offers for 75 years. but the glitch is, its poor settlement ratio. i shall give truthful info., but still poor stlmnt ratio is a suspect. Secondly shld i go for more SA. pl advise.

    1. Better take the plan only till age 60 .. I am doing a post in few days on why !

      1. ashu says:

        Thanks Manish. . .
        U have been of Grt Help. . Awaiting Ur Post. .

  246. amol says:

    Hi Manish,
    thank you for wonderful article.
    I am 34 yrs old and looking for 1 cr term plan. May be i will go for split 50 – 50 lac.
    I shortlisted few company’s

    HDFC life, Aviva and SBI life.

    please suggest me the best combination, so that after me, my dependent shall not have problem for claim settlement.

    if possible plz suggest split amount also.

    1. Aviva and HDFC are good

  247. mjagdishns says:

    i am planning to buy AVIVA I SHEALD term policy which having some benfits that , after maturity this plane return the total premium amount to policy holder , if any claim total sum assured paid, is it correct . i am low income person . i requst to you please help me to choose the plane , is it good term plane to proctect . or advice me any other company which is low premium and good claim . i am reading your all articles in the jagoinvestor site , after reading all , i am choose the term plane.i am not interest in LIC, i request you sir please suggest me aviva is good in claim . i am wating for your reaply as soon as possible .thank u

    1. Its a return on premium term plan policy .. there should not be any issue with the policy , but why not go for pure term plan which does not return any premiums back, the premiums will be low there /.

      1. mjagdishns says:

        thank u sir , please suggest me wich company is low preimum and best cliam , to buy the policy online or offiline , and also please suggest me company names . sir please suggest me . thanks sir.

        1. Go for Aviva or HDFC

  248. mpb says:


    below are my few queries:
    1. I have home loan which is covered under max new york life’s credit life insurance policy so shoudl i go for one more term plan to cover my life
    2. I want to take term insurance plan for my husband, but little confused which to take either SBI,hdfc term assurance or any other i am expecting 75-1cr cover for the same.

    So can u please help me out

    1. YOu can go for a term plan from HDFC or Aviva !

      1. mpb says:

        Hello manish,

        as i am new to this segment can u pls let me know:
        can i take two term plan from two other sources e.g. HDFC and aviva and in case of unfortunate things happen can i get the claim amount from both of the companies

        And i have recieved your book “how to be your own financial planner in 10 steps” i really liked the book 🙂


        1. Yes, you can take it from two companies. both will pay

  249. Vivek says:

    Since I saw many people talking about claim settlement ratio, i thought to write something about it..below is the link to my website..where I am talking about the same. I have totally different view about it..


    Idea of this website is to clearly analyse the insurance product and keep it for people..I have just begun so there is no option for you to comment but i am sure the information provided will help you think about claim settlement ratio from different angle..


    1. Yes Vivek

      Sadly , people over look into this term and do not understand what is means and how it gets created .

      1. Vivek says:

        Hi Manish,

        Ya you are right…though I have been doing so much on my website just to bring that awareness…when I tell people about this, they agree but at the end buy LIC policy!

        Also when I tell them to buy a plain term insurance, they say ” If I take policy for Rs. 1 crore, my wife only will kill me..ha ha ” difficult to change peoples mind..let’s see if I can help some to go in right direction with my website!


        1. Sure 🙂 . At the end, they are just making some choices in life 🙂

  250. param says:

    hello manish,
    i am following your website and your reviews for sometime now. one of my friend recommended me your website since i was looking for investment advice.
    i am a doctor and 31 now and i am doing superspecialization and unmarried now. right now i do not earn anything as it is my training period. but after 3 years, say jan 2016, my earnings will be in the range of 1.5 to 2L pm.
    i have LIC term plan of 15L maturing in 2042, i pay a premium of 39000.
    now my family is very much dependent on me. i want maximum cover for my my family. please suggest me plan that will suit me.
    also in near future i would like to have financial consultaion from you. could you please tell me how can we do that?

    1. Better stop this LIC term plan .. I dont think its a TERM PLAN , its some other investment policy .. You can get a 1 crore term plan in less than 10,000 per YEAR . and thats what you can easily afford at the moment .

      You can consult us by taking our services – http://www.jagoinvestor.com/services

  251. Vyky says:

    Dear Manish,

    I am a fan of Jagoinvestor, i come across your suggestions through your site, now and then, whenever i look on the internet for any of my financial query.

    This time i’m bound to write as this seems the best place to ask which term insurance will be suitable for me.

    My details: Age-29 yrs, married, Age of my husband-30 yrs, we have 1 kid of 3 yrs, My husband’s salary – 6.5 lac+ annually, My salary – 10 lac+ annually, No smoking habits, no medical issues as best known to me.

    I want a term insurance of 50L for 30 yrs from LIC and 50L for 30 yrs from HDFC, but I am confused whether I should buy term insurance for only my husband or me or we should buy it for both of us.

    Pls suggest..

    1. You should but the term plan for those , on whom there is someone financially dependent . Are you dependent or may be dependent on your husband income , If yes, you should take your husband term plan , same is the case with your term plan also .

  252. Ashis says:

    Hi Manish,

    First of all Really thanks a lot for all your wonderful posts.

    Below is my case:
    1-Age: 25,Male,Salary:10Lac/A
    2-Got Jeevan Anand of 750000 SA with normal death cover with 25yr term.(I am sure you know the dealth cover offered by Jeevan anand)
    3-Single & literally no dependants except in somecases I do help my parents.

    Now please advise me if I should go for a pure term cover? (If Yes,is 50K for 35yrs term will be Ok?)

    Thanks in advance.

    1. Ashis says:

      Hi Manish,

      Sorry..its 50L for 35 yr term not 50K 🙂

    2. Yes that looks good to me given your case !

      1. Ashis says:

        Hi Manish,


        Might be it should be a personal choice but I would like to take your suggestions between Aviva or Aegon??

        Please suggest with your feedback.

          1. Ashis says:

            Hi Manish,

            I went ahead with Aviva for 50lakh.
            But Aviva team called me & suggested to go for 1Cr as I am eligible for upto 2.2Cr.

            please suggest whether to go with 1Cr or 50lakh?

            Awaiting your quick reply so that I can buy the plan today itself.

            1. You cant go as per their recommendation , It you who have to decide what is enough for you .

              Is 50 lacs enough for you or not ? If YES, then just take 50 lacs

  253. Rishikesh says:

    Hi Manish,
    I have query regarding term insurance plan. I am 25 yr, Non smoker and drinker as of now, Want to by 1Cr (22*Income I fulfill this criteria) insurance cover but in two policies, 50 Lakhs each.
    I am confused in HDFC LIFE,Bharti AXA, and AVIVA…. Can you please suggest ?

  254. Dileep says:

    Hi Manish
    You have written a wonderful article. I am 24 yrs aged and like to get a term plan that will cover me till I am 65(effectively, a 40 yr term). I am looking for a cover of 1 crore. Most companies I see have only 30 yr coverage. Which private companies offer coverage for 40 yrs?

    1. Aegon religare will give for 40 yrs !

  255. KUNAL says:

    Dear Manish,

    Request you to kindly update the latest data of term insurance policies and claim settlement ratios as we are planning to take a term plan for 50 lacs in April 2013.

    Thanks & regards,

    1. the data is latest only

  256. Gangi says:

    Dear Manish,
    I just completed second chapter of “16 Personal Finance Principles Every invester should know” – Thank you for the nice book.

    Was there any Term insurance available in Market with ‘Disability Rider’ and ‘Critical Illness’?
    I will waiting for your reply, Please…

  257. Neel says:

    Hi Manish,

    As you said about Illegal activities.. Illegel activities in which claim are rejected are thise which go in criminal courts.But Jumping a signal and more people in cab are subjected to go in Civil court.So should not be termed as illegal activities or ground to reject claim.


    1. Nikhil says:

      I think if you do not deliberately try to kill yourself (like suicide OR giving a “supari” to kill urself :)) then it should not be an issue!
      Also disclose your earlier policies and any health issues while taking a new policy!

    2. More people in cab is not in your control , but jumping a signal is in your control . The point is were you irresponsible to your life ?

  258. Pradeep B says:

    Hi Manish Ji
    I am 31 Year old and I want to take TERM Insurance soon as my DOB is on 22nd Mar and my age will be 32. I want to take before 22nd to avoid increase of Premium. I seen in your reviews that AVIVA is a better option, actually i have shortlisted HDFC(Reason for sellection: For Decent Claim settlement ratio next to LIC which is having very high premium for the same SA) & Bharathi Axa(Reason for sellection: As Policy Bazaar Officer has told that apart from Claim Settlement ratio we have to fill the details honestly so that the company may not get chance to reject the claim). I have included AVIVA in the list as you have mentioned that it is having Accident Rider and also as you are +ve about the company.

    Now with three options I am totally confused about which plan to take. Kindly suggest one from the three
    1. Bharathi AXA
    2. AVIVA
    3. HDFC

    Also plz let me know if 30 Yrs policy term is OK or shall I increase or decrease the policy term

    Awaiting for your reply sir

    1. go for HDFC then .. no issues

  259. Nikhil says:

    Hi Manish

    I am 24 years now and unmarried. My term plan goal is to serve my parents and sister in case I die. I calculated the premium for a 30 yr policy worth 1 cr to be 8600 plus tax (click2protect). But then a thought occured to me that after 5 years I will be married and sometime after have children too. Then I would again need one more insurance (say 1 cr). Now for future me (after 5 yrs; with age 29) I calculated the premium for a 25 yr policy and to my surprise it turned out to be 9700 (12.8 % higher than 8600).

    So the whole situation is like:
    Age Term ProtectionUpto Premium
    25 30 2043 8600
    30 25 2043 9700

    So my question is: Isnt it better to have the 2nd planned policy to be taken now instead for waiting for 5 years? Notice that in both cases the protection is till 2043!

    1. Nikhil says:

      More clearly:


    2. You can do that . note that future is uncertain and premiums numbers etc for new client can change .. so if you want to lock on the numbers today , go ahead

  260. Syed Rizvi says:

    Dear Manish,

    After Your wise advise I had purchased the health plan for me and my family. My age is 43 yrs and now again I am seeking your advise on best term life insurance plan for me. Kindly let me know about the same as I want to go for this asap.

    Thanks and regards,
    Syed Rizvi.

    1. Go for Aviva ilife or HDFC click2Protect !

      1. Abhijeet says:

        Hi Manish,

        Did you noticed SBILife also floated online term insurance (eSHIELD), & if we see the premium its Rs. 13135/- inclusive of taxes, for 30 yrs old non-smoking male, and 30 yrs policy tenure & 1 Cr. SA, pretty competitive I think

        I think nice to have 1 more option & that is too from SBI,

        Your Views Please,

  261. sandeep says:

    Hi Sir,
    I am 31 years old male , smoker and drinker (Occassionaly) govt. employee, Salary 5-6 lakh P.A., married, having 1 year old girl. I want to take term insurance for me. Please suggest best term insurance plan for 75 lakh and 1 crore. Please suggest.

    1. You can go with Aviva iLife !

  262. Nikhil says:

    Hi Manish

    I will probably take a term insurance in a few months time. And I have been following your posts (got your books today as well 🙂 ) for quite some time. If I look at term insurance from the insurer’s perspective and dwell why there exists companies selling term insurance and if they do exists they must be making at least some profit. Every penny they get is ultimately invested by the company and they pay the money because they get returns from these investments. And the reason for very low annual premium to S.A. ratio is that it works on the probability of the customer dying within 30 years (the policy term) which being very less puts the insurer where very few policies end up being called for claim.

    Now If I go by investing the annual premium amount in some instrument every year and get returns for 30 years then I can get an amount very close (if not equal) to the claim amount that I would get If I die. And to be practical and factual; there is very small chance of someone dying at an early age of < 55. The medical and post-accidental services have improved a lot in India.

    So my question is: Should we consider buying a term policy OR can there be a better investing solution for this? You know I am asking this question but still gonna ask as taking an insurance relieves your mind about future; but still out of curiosity would like to know!


    1. Nikhil

      But why you are getting into that question of “investing the money” .. the motive for taking a term plan is not investments , its security !

  263. ramesh says:

    hello manish,
    this is Ramesh,49 years old govt employee,non smoker and earn 4to5 lakhs per annum i had already 8 lakhs lic policies and 2 lakhs private insurance policies, i am looking for 16 year online term policy with 50 lakhs sum cover.Which one is the best among AVIVA I LIFE,AR,BHARATHI AXA Term palns

  264. chandan says:

    Hi Manish,

    have you considered the possibility of some of the insurance companies closing down. So would taking a policy with LIC a better option.

    1. Chandan

      I think IRDA is the one who takes care of these.. I dont think you should worry about this a lot

  265. SHARAD RASTOGI says:

    Dear Manish I want to add one more thing Which company should I go for (Term plan) (On Claim basis)?

  266. SHARAD RASTOGI says:

    Dear Manish now I am 50 yrs old having spouse and two daughters. I have taken Five policies from LIC of India which covers my life upto 20 lacs in case of death. I want to purchase term plan of 50 lacs more. I am casual smoker and having good health.
    Kindly suggest me from which insurance company I should purchase & should I opt for riders also.

    1. You can look for companies like Kotak, Aviva .. if you go for LIC right now , it will be very high premium for you

  267. chandrima says:

    We want to purchase a term insurance for one crore. My spouse is 45 years . We want it for 30 years (that is the max. term acc. to my knowledge ) . He is a smoker . Which is the Best Company with a reasonable premium amt. & with the best claim settlement ? Does he need to add any rider ? ( He already has riders in other general life insurance. )Suggest the best 2 companies online & offline , taking all the required things into consideration .

    1. Go for companies like Aviva or HDFC

  268. Shashi says:

    Is the claim given to family on unfortunate death of the insured person, taxable in term insurance?

      1. Shashi says:

        Thanks Manish. As I have heard in some TV programme that every policy has tax in one or other form, either during purchase, or premium or returns.

        Also, I am looking for term plan. What would you suggest, single plan (may be 40-50 lakhs) or multiple plan (10 or 20 lakhs each). My age is 42, so not going to be low premium.

        Thanks in advance

        1. I dont think so .. There is no tax on term plans .. May be you are talking about the “premiums”

  269. Aj

    More than the company , what matters is your trust level with the company . AR is overall good enough . you can go with it , just make sure you give all the information correctly !

  270. So what should a 30 yr guy do if he wants a cover for 1 crore ? What are your suggestions ?

  271. Aravind says:

    Dear Manish,

    I am an NRI(Kuwait) and would like to go for the Term insurance for 1 Cr, request you to suggest me the best product for me.


    1. You should look at some offline term plans like Kotak

      1. Aravind says:

        Do you have any information of Kotak term plans available for NRI’s. Because one of the financial advisor told me that there are no term plans available for NRI’s except Future Generali’s Smart Life. ANd I enquired with LIC people also , they too told me the same answer that they are not offering term insurance for NRI’s.
        Will be grateful to you.

        1. Yes its tough for a NRI to get a term plan , but there are companies which will give you offline term plans , its not just Future generali , but several others do give . Its not possible to exactly list them down , but you will have to enquire more on this with each company !

          1. Aravind says:

            Thanks Manish.

  272. Rahul raut says:

    Hi Manish,
    Thanks for this article!
    When will the LIC online term plan available for buying on internet? Do u have any info?

  273. Yogesh says:

    Dear Manish,

    I have completed 33 years on 10th. I am married with 2 years of daughter.

    I am intrested to purchase term insurance of 50 lakhs (Slit 30 lakhs from LIC + 20 lakhs form Private) with term of 25 years.

    I have liability of 40 lacs (36lacs house loan + 4 lacs of car loan).

    Please suggest me how to go ahead with following questions?

    Is my split right?
    Which private company is better (online & offline)?
    Is riders really necessory?



    1. Your Split is ok, there cant be right or wrong in this , it depends on your comfort with LIC , the higher it is , the higher number with LIC

      All companies are same, but you should take it from the company you trust

      No , its not mandatory, its only when you need them

    2. Anand says:

      If your liability is 40 lakhs and you are going for 50 lakhs of insurance, then effectively you are insured only for 10 lakhs and this is very very less. It is just not enough. Give it a thought.
      IMO, you should go for 1 crore term plan with a single company. If you declare everything correctly, then no need of worry.

      PS: I am in the same boat.

  274. Yea you are going right , Kotak Preffered is also a offline option . Go for it .

  275. Dinesh Bhat says:

    This data is very useful. Do you have any latest data collected during 2012-13/2011-12?


    1. Will update this chart soon

      1. Dinesh Bhat says:

        Thanks Manish for your quick response. Please update at the earliest if you can. This data is missing from almost all the websites that I come across. Thanks for having such a unique data.

  276. Rohit says:

    Thanks for the detailed information. I have some queries. It will be good if you can guide me on the same.
    I need Term Insurance coverage of 1 Cr. Selected companies by me is i-Life from Aviva. The reason are as follows….
    Max age cover till 70Years
    Yearly premium is approx 12K
    Claim settlement ratio is 86%
    Rider coverage of Death & Critical Illness. 12 Critical illness are covered in the plan
    (Critical Illness plays a role of Medical Insurance as well in other ways if not exactly)
    It covers both Accidental & Natural deaths…

    Also some of the not very good points of Aviva are…
    Claim settlement Ratio is not very high such as 99% or 100%
    Hard premium grace period of 30 days
    i-Life can only be bought online

    After viewing your review, I am thinking now to make it 50L for Aviva & balance 50L towards Kotak Preferred.

    Pls guide me if I am right in my thought process & which step should I take.

    Also in the next couple of months I will be taking Medical Insurance as well.


  277. Dr. srinivas says:

    hi manish. i would like take a term plan around 75 lacs. my age is 30 years. my annual income around 5-7 lacs. my will income will increase as i am a doctor. so can you suggest me which one is better single policy or mix up. in case double policies help to choose company. thanks


    1. Dont complicate it , just take a plain term plan online for 75 lacs or 1 crore . As you are 30 yrs old , it should not cost more than 10k per year 🙂 . Just go for action now , no complication .

  278. jayesh chandriani says:

    i am 51 and i am underinsured and i am deciding on the LIC amulya jeevan and ICICI-iprotect combination as these are the only plans offered for a higher term. i think thas avery imp. factor.. as otherwise all your plans and invested money goes.

    Any suggestions?
    When do u think the online LIC termplan is expected?

    1. No idea when the online term plan from LIC will come , but you can go for the regular term plan at this moment .

  279. jayesh chandriani says:

    When do u think tyhe online LIC term plan isgoing to be out?

    1. Jayesh

      No idea 🙂

  280. Sharan says:

    Hi Manish,

    I am looking to buy an online term plan. I am looking for a coverage of 80L – 1Cr. My age is 26 , non smoker. I checked out the quotes from Kotak, Aegon Religare, Aviva, HDFC and Bharti AXA and found Bharti AXA to be the cheapest by quite a difference. Going through some of your responses in the posts above, I too felt going for separate Accidental/Critical illness cover is better as most of the online term plans are standalone. Aegon Religare offers a Waiver of Premium for Cancer/Coronary Artery Bypass Surgery/ Heart attack/ Stroke only and also offers a long policy term of more than 30 years, but is a little expensive compared to Bharti AXA. But the policywala site showed much better Claim settlement data for Bharti compared to Aegon.

    I have gone through this site and absorbed most of the tips given in articles and the Term Insurance e book, but I am still finding it difficult to make the final choice. Also read about few scary experiences.
    Looking for any suggestions, at the nth moment to help me go ahead with the best plan.
    Thanks in advance.

    1. You should now pick one randomly ,because over analysis is preventing you from taking decision . JUst pick one , just pick it

      Read this : https://www.jagoinvestor.com/2012/05/is-looking-for-perfection-killing-your-financial-life.html

  281. Sharan says:

    Hi Manish,

    I am looking to buy an online term plan. I am looking for a coverage of 80L – 1Cr. My age is 26 , non smoker. I checked out the quotes from Kotak, Aegon Religare, Aviva, HDFC and Bharti AXA and found Bharti AXA to be the cheapest by quite a difference. Going through some of your responses in the posts above, I too felt going for separate Accidental/Critical illness cover is better as most of the online term plans are standalone. Aegon Religare offers a Waiver of Premium for Cancer/Coronary Artery Bypass Surgery/ Heart attack/ Stroke only and also offers a long policy term of more than 30 years, but is a little expensive compared to Bharti AXA. But the policywala site showed much better Claim settlement data for Bharti compared to Aegon.

    I have gone through this site and absorbed most of the tips given in articles and the Term Insurance e book, but I am still finding it difficult to make the final choice. Also read about few scary experiences.
    Looking for any suggestions, at the nth moment to help me go ahead with the best plan.
    Thanks in advance.

  282. Rajiv says:

    Hello Manish,
    It would be good to revise and update all the charts to their current status. This will make it more relevant as many aspects will have changed since 2010 and the finance budgets may also have impacted these terms plan insurance companies.

    Would be happy to know how things stand as of now.
    Thank you,

    1. Will make that change very soon

  283. VJ says:

    Hello, Manish! Your information has always been informative to the general public. Thank you.

    I am 54 years old and propose to take a term insurance for a minimum of INR50L. Which vendor would you recommend? I have no health problems and do not smoke or drink, though I am willing to go through a comprehensive health check if required.

    1. You can take it from any company , just make sure you provide right info in form , your premium will really be very high , is your family too much dependent on you for money ?

  284. Imran says:

    Hi Manish,

    Awesome research and very good content.
    I am a software professional, aged 31 yrs, married having 2 kids.
    I want to go with the term insurance for 1 cr. After reading all the conversations here I have decide to take 50 – 50 approach without any riders (I want to have separate policy for accidental issues).
    I am planing to go (NON-Online) 50 L with KOTAK preferred/ICICI and 50 L with SBI/HDFC .
    Kindly let me know if my decision is correct and which 2 companies to choose from the above short-listed companies as regards to their performance, respect and future stability.

    1. yea I think you can go ahead !

  285. KI says:

    Are riders good in term plan.
    And what do you think about i-Life Aviva India?

    1. All riders are good only , you need to see which one is required in your life . Aviva is good option overall

  286. Navin S says:

    I already have Rs. 50 lacs term cover from Aviva i-life. However want to have additional 50 lacs term cover.
    I have heard that LIC is coming up with its online term plan where the annual premium is expected to be much more lower than its currently available term plans.
    Does anyone have any idea when LIC is going to introducing online term lan?

    1. They said they will launch it very long back (1 yr back now) , i think it will take much more time .

  287. Alex says:

    Which is the best option as of now to invest with an yearly premium and to get a monthly income of around 50000 after maturity/pension?

    1. I would say mutual funds

  288. Hitesh Daka says:

    Dear Sir,
    tell me best LIC Plan,

  289. Hitesh Daka says:

    Dear sir,
    My Self Hitesh Daka
    Age : 22 yr ,
    DOB : 14/01/1990

    I wants to know which is best Insurance palne for me ,
    Currently I m working with MNC,

    and I wants Tax benifits and returnts ,
    So, plz tell me,,
    Which LIC policy is best for me,
    I m going through LIC , b’coz I believe on Gov.


  290. KCS says:

    Hi Manish,
    I did an online term policy with AVIVA for 1 crore.
    In the application form i declared that I had broken my right leg in an accident 10 years back. there was an operation in broken leg.
    After that they asked me for a medical test which is completed . but now they are asking me to submit medical discharge report of my fractured leg to proceeding my application. I repeatedly requesting them to ask their doctor to check my fitness and generate a report as that accident was happened 10 years before but they are stubborn with the medical discharge report. what to do please suggest.

    1. I think tell them you do not have it right now and tell them you want your money back !

      1. KCS says:

        They are ready to return my amount after deducting my medical charges. Its their mistake why I should pay for that.

        1. If you have mentioned something like that , obviously you should have it , you should have kept it , because these kind of reports are needed in future IF YOU MENTION THEM SOMEWHERE .

  291. KK says:

    Hi Manish – I have a LIC term plan of Rs. 25 lacs and I am looking for one more term plan of Rs. 50 Lacs from some other Pvt.company.
    I checked this site and some other sites where I found ICICI iprotect and HDFC Term plan to be good.
    Can you suggest which one is better – ICICI or HDFC. ?

    I am 34 years and looking for term insurance which can cover me for max number of years – say 65 to 70 years.


    1. KK

      Now ICICI iProtect is called as iCare and there are no medicals in that plan , hence the premium are higher . I would say you can go with HDFC if you trust it .

  292. Vaibhav Agarwal says:

    Hello Manish

    Amazing insight over the issue of term insurance. I have a query.
    I want to opt for term plan for 25 years with 1 crore cover, where I should go.
    As I am completing 25 years on June 18 so does the premium would increase if I enroll the policy after that.

    1. No , they take nearest birth day

  293. Rajesh jain says:

    “if you are involved in any of the illegal activities and death occurs”, then this type of death is not covered in term plan .

    According to me “illegal” is a very broad term.

    Driving while consuming alcohol is also illegal
    6 people Travelling in a tourist taxi with 4+1 limit, is also illegal
    Jumping traffic signal is also illegal.
    diving without helmet in samll cities also illegal

    So if death occurs, in the course of above illegal activities, then company might reject the claim.

    Please help me to clarify on my doubts.i am not satisfied your above answer of reject the claim in such cases.

    are u sure , in such cases company will reject the claim .?

    1. Yes , these are illegal activities and claim will be rejected

  294. Rajesh

    1. There should not be any issue, however for your peace of mind , you might want to consider medical tests
    2. No , groop cover are not to be disclosed
    3. No


  295. gaurav says:

    What are the pros and cons of Birla Sun Life Insurance’s term plan?

    1. There is nothing like that , all term plans are same .. Just that premiums might be more or less at times

  296. ramanaw says:

    Is birla term policy is better or which term policy is better,i am planning to take one my age is 30

    1. You can consider one from Kotak or Aviva if you are planning to go online

      1. ramanaw says:

        Hi Manish,
        Thanks,otherthan Kotak which is better option what about Birla

  297. KANDHASAMY says:

    good information

  298. Pankaj says:

    Hello Manish,

    Here is a simple question – Which company should I go for (Term plan) (On Claim basis)?

  299. Nag says:

    Hi Manish,

    I was about to opt for Birla sun life protector plus plan..need review on the same..


    1. If its not a term plan ,then dont go for it

      1. Nag says:

        it is a term plan…please write your opion on this product…

  300. Anand Nanoti says:

    Hi Manish,

    I am planning to buy Birla Sun Life Protector Plan which is a Term Plan. I am specifically impressed by its Waiver of Premium Rider, which I couldn’t find in any other plan. Please let me know how well is Birla Sun Life’s claim settlement ratio. My requirement is Sum assured of 2500000 for term of 30yrs. Please suggest.

    1. Anand

      Why are you so impressed with it ? I know its a good thing , but then you pay a cost to it, it does not come for free .. I would say you can go with Birla (or any company) if you make sure you are telling them truth while filling up the form .


  301. dhirendra kumar says:

    I have Aviva plan for a crore , the time I took Aviva was one of the good life insurance policy holder ,Now Looks like in market there is more better premium calculation companies. I had plan to reduce from Aviva 1 crore to 50 lakh and take 50 lakh from other insurance provider so that in worse case my dependent shd get some money from either one .. Please suggest which other company I shd opt for ..
    do Aviva company will consider my case for reducing my insurance premium do they have any such type of things

    1. Aviva will not reduce the premium like this , you need to close that policy and take a new one for 50 lacs . the other options you have are Bharti Axa or HDFC

  302. MAYURI says:


    1. If you trust the company , then you can move ahead

      1. MAYURI says:

        We do not know much about the company to trust or distrust it. I request you to recommend options which provide good riders and competitive pricing. AR features low on the service ratings but high on features n price.
        please recommend between AR, Aviva i-life, Bharti Axa.

  303. vineet says:

    Hi, Ive taken Family health optima policy from Star Health for self, spouse and 1 kid for 10L. Kindly let me know if Ive taken a right decision.

    1. Yes .. its a good one and suggested

      1. vineet says:

        Thanks Manish.

  304. Ramakant Singh says:

    I am 29 years old Guy. I am working in private sector and want a buy Term Plan for safe / secure our family. i am not interested to invest money in insurance sector, but i want insurance our life.
    I want buy one or two term plan for whole life of Amount Rs. 1 Crore.
    Please advice which plan is better for me, and Why ?
    Finally , I want pay very low premium.

    1. Ramakant

      There are various choices like Aegon Religare , Bharti Axa , HDFC

  305. Vasanth says:

    Hi Manish,

    Last week i have taken jeevan anand policy from Lic agent that time he explained very clearly and cleverly, the other day i met my college friend he told me instead of taking Jeevan anand you must to take term insurance for protecting your dependent future. Then he asked me policy details so explained him the sum assured amount(20lacs) after maturity (10lacs) after my death(10lacs), maturity: 21yrs, and premium(Rs.4206/- permonth) details. He calculates and told me that the Lic agent guy cheated you, when i heard, i was bit shocked then he said; you going to pay Rs. 1059912/- for 21yrs but they going to give just 10lacs(after maturity) instead of taking that policy you can better invest in mutual funds(Sip basis).

    Here i want to know two things:

    1.) whether the jeevan anand policy is good or not?
    ii.) if it bad means am going to cancel the policy, can i get my 1st month premium amount(Rs.4206/-) or not??

    Help me sir

    1. Vasanth

      Just cancel the policy , you are the first person who has done the least damage (just 1 month of premium) , other every one commits 1 yrs of premium at least .. You can cancel your policy in first 15 days of getting the policy (called as FREE LOOKUP PERIOD) .

      You will get more of your money ! . Just do what your friend said and dont leave him , he is good one 🙂 .

      1. Vasanth says:


        Thanks, Thanks, Thanks a lot. i called that Lic agent he told me, i will get my policy doc’s on 20th of May only, so once it comes i will cancel it. Here i have 1more question how to cancel my policy within first 15days(free look period)?Can i approach the lic agent to cancel the policy or i can directly cancel it? becoz i transfered the premium amount(Rs.4260/-) to that agent account, if i cancel it know they will credited the same into agent account only? then how can i get back my money??

        Note: i called that agent he said don’t cancel the policy sir it will helps to you in future believe me/Trust me……. I don’t know what to do kindly help me

        1. Vasanth

          from your last line , I can clearly see that you are still not convinced if you should go ahead with this policy or not . The first step is that you should make yourself beleive if you want it or not . Can you give me one reason why you want to go for this policy ?

          Coming to the main issue , The first mistake which you have done in your financial life is giving money in agents account ? I would like to be a little harsh here . Dont you know that you should not have done it . When you are buying a policy from a company , what is the logic of paying the money to agents account ? What is he runs away ! , You are now in a situation where you can even ask the company anything nor ask the agent (because he will say that he has processed the things) . Note that your agent will get 25% of your premium in the first year and 5% there after .

          Ask him you are not interested in the policy , go to him and talk to him (record the conversation on phone if possible) , then tell him that you dont want it and he should help you , else you would like to contact IRDA for complaining and get his licence cancelled (you can really do that , atleast complain)


          1. Vasanth says:


            No, when he approached me, i doesn’t have sufficient amount in my account so he said no problem sir, i will give it from my account and you can transfer me whenever you get it, thats why i transfered or else i always used to give cheque only. I invested in mutual funds via this guy; he is not only lic agent he is a financial advisor also, so if i told to cancel the policy means is there is any possibility of getting low returns /profit from mutual funds. i know am asking very silly questions but i don’t have an option becoz am a first time invester thats why these many questions. sorry manish.

            1. Nothing to be sorry here .. I am just trying to help you .

              I am not questioning the intention or integrity of the advisor . He is doing what he wants to do . But you should be aware about the implications of what happened. To just make sure you do the complete full proof work ,always make sure that the payment is done via cheque or some way where it can be proved that you made payment . Tomm how do you prove that you made the payment ? The money went from Agent account or his cheque , thats the issue .

              Also note that why are you buying this policy ? For returns or for protection point of view .. because endowment plans will just give you near 4-5% return in long run and hardly any insurance . Do you know that Jeevan Tarang gives you just BONUS money at maturity and no SUM Assured ! . if will give you yearly pension after the maturity @5.5% of SA . This might turn out to be a bad product for you when you look back .

              Ask your agent to give you strong reason and comparision between Jeevan Tarang and Term plan + MF over a long 15-20 yrs period .

              Also my suggestion is to first learn a bit more on personal finance and then start your investments .


  306. Vasanth says:

    Dear Manish,

    I thought to take a term insurance policy but i don’t have an idea to which is good for me. am a 25yrs old, i am working in mnc and am recently got married. I already starts to invest Rs.8000/- in mutual funds in sip basis(different funds), i have already taken medical insurance for me and my wife but still i want to protect my dependent future after my death. please kindly suggest me which online term insurance is good for me, don’t say it’s up to you/ research it/ no recommendation. kindly help me to choose a good online term plan. Your valuable suggestion might change my future better.

    1. Vasanath

      As you have asked me not to say “it depends on you” . Let me then just say that you can go with Bharti Axa or HDFC , these are the 2 new term plans in online market and their premium is cheap . Make sure you give all the info in the forms properly and correct .

      1. Vasanth says:

        Hi Manish,

        I liked the way you answer for my queries. anyways nice blog, nice peoples and good sharing. Keep on rocking sir.

        I thought you would have suggest kotak for me, becoz above archieves i have looked your replies so, i am bit surprised you suggested HDFC/Bharti Axa for me. anyways i has got valuable info and advice from you, so once i will be cancelled my Jeevan anand policy am going to apply a new term policy thru online.

        1. Vasanth

          thats because if I give you 3-4 options ,you will again try to find out the best one amount them .. Kotak is another good option and truely speaking any company is fine as far as you give right information and understand the product . With just 2 options given that chances are high that the action will be taken fast . What do you have to say ?

          1. Vasanth says:


            Very true………. Here i have to accept my fault first becoz i didn’t take an advice from my senior’s, i just spoke to my collegues only they only given this option to choose jeevan anand. Now am clear whatever doubt/question comes to my mind, first i have to check with experts like you. am happy with the way you answer and your patience. Truely saying you are my good adviser.

  307. Deepak M says:

    Dear Manish,

    I thought to take a term insurance policy but i don’t have an idea to which is good for me. am a 25yrs old, i am working in mnc and am recently got married. I already starts to invest Rs.8000/- in mutual funds in sip basis(different funds), i have already taken medical insurance for me and my wife but still i want to protect my dependent future. please kindly suggest me which online term insurance is good for me, don’t say it’s up to you/ research it/ no recommendation. kindly help me to choose a good online term plan. Your valuable suggestion might change my future better.

  308. basu says:

    can u manish tell us how to decide for investment plans – equity linked??

  309. basu says:

    hi manish,
    nice blog…..can u provide us some information about how to go for an equity linked plan???

      1. basu says:

        they say, u should not combine investment with insurance. thus we learnt a lot from ur blog about how to go for an insurance(term plan) but can u guide us towards investment aspect especially long term …….i am not sure it is ULIP or not?

  310. Prakash Patil says:

    Hi Manish

    Thaks for the useful info , it really cleared some of my doubts about Term Insurance.

    I am 31 year old married and working in one of the MNC with having 10 lakhs CTC and i am planning to buy a term insurance and I have a home loan of 40 lakhs , please let me know which term insurance is best for me and what will be the best sum assured for me ?



    Prakash Patil

    1. Prakash

      there is no “best” plan like that .. just go for any online term plan which you trust and whose premium you can pay easily .. you can calculate the sum assured for you at : https://www.jagoinvestor.com/calculators/html/Insurance-Calculator.html

  311. Ankit says:

    I am 23Years old, want to buy a term plan of 50lacs. can you suggest some plans within the annual premium of 5000.

    1. Ankit

      The cheapest for you would be Bharti AXA or AVIVA

  312. A Mona says:

    How important are riders in term insurance plans?

    1. A mona

      Its a personal thing .. a rider may be useful for you , but not me !

  313. kahnu says:

    Dear Manish,

    My home town is Bhubaneswar (Odisha), but I am working in Jharsuguda(Odisha). while filling the form in Aviva my current city is missing in the given list. should I mention Bhubaneswar to my current city i,e. can I mention my permanent address to my residential address? plz suggest ..

    1. Kahnu

      Yes you can do that ..

  314. YM says:

    Hi Manish
    A very informative article as usual. I have a few queries though.
    I am 37. My annual income is 12 L. I have 40L term insurance from employers, 24 L from LIC. I need an additional 1 Crore term insurance which i plan to devide between LIC and pvt insurance company.
    1. I was wondering if i should wait for LIC to reduce their premiums in the new financial year as was reported in the press a few days ago?
    2. And what about online term plan from LIC which was also proposed to be launched this year.
    Please enlighten me on these questions. Thanks.

    1. YM

      LIC term plan online will be coming in market , but you can never be so sure when it will really arrive . SO just see if you really want to take that chance or not .. else go with some other company

  315. Saurabh Sharma says:

    Hi manish,

    When will the LIC online term plan option be launched?
    Also tell me that , if any individual has to take term plan, does he needs to write date of birth written in School certificates or will they need birth certificate?

    will it have any impact, since i am 1981 born but on records 1983 is being mentioned. pls suggest.


  316. kahnu says:

    Dear Manish,

    My company is offering a group term plan of 40 lacs, ( my CTC is 7 lacs) should I go for another term plan.


    1. If your life demands more than 40 lacs of cover, then you should go for it ..

  317. S Barman says:

    Dear Sir/Madam,

    I am now 40+ and Engineer in profession. I am looking for the policy for best life cover plan/policy with AD, CI, DR, WP at low premium.
    Kind suggesion is solicited.


    1. S Barman

      Online policies generally do not provide all the riders . so you will have to look at offline options


      1. S Barman says:

        Dear Manis,
        Suggest me some best term plans of 50 lac assured value. I am 41 yrs.

        S Barman

        1. S Barman

          There is no assured value, its Sum assured. You get money only when you die. There are many options are your age, but as your age is 41 , the exact premium can be known only after medicals . there are options like aviva, kotak , HDFC

  318. Rahul says:


    I was coaxed into buying Jeevan Saral by a LIC agent 2 years back with MP of 10k. I was not knowing all the details at that time and new to insurance. I am only 25 years right now.
    I want to exit that plan but they say u will loose 1 year prem of 1.2 lac and for the second yr get only 50% of the prem paid. so all in all i loose 75% of 2.4 lacs if i exit.

    Please advise

  319. Sandesh says:

    I work for a shipping company and i am out at sea onboard around 7-8 months in a year, that includes flight travel too while joining and sign off from ship. My question is does the above mentioned institution provide term policy for people working in high risk area and are riders covered all around the globe…..i am 32 yrs of age and recently i have taken a home loan….

    1. Sandesh

      Its little tough to get a term plan for you, because of the risk in your life, but you can try to apply , may be it will have more premium for you

  320. Sandesh says:

    Hello Manish
    I want know do you have a blog similar to this where i can find information regarding various Family floater Mediclaim insurance and ULIP plans….thankyou

    1. Sandeshhttps://www.jagoinvestor.com/wp-admin/comment.php?c=40053&action=unapprovecomment&_wpnonce=f42f08d65c

      Not exactly like this one , but there are many articles written on this topic – read them https://www.jagoinvestor.com/category/health-insurance

  321. Amrish Garg says:


    I have been told by LIC agent that Private Insurrer Sell term Plann Cheaper than LIC because they do not cover Natural Death and some other causes of death and LIC Jeevan Amulya covers all type of death whatever the reason may be.

    Is it true?

    Amrish Garg

    1. Amrish

      Total nonsense .. There is no such thing like that . All term plans are same . they all cover deaths of all kind . Please educate your agent , he needs it

  322. Sandhu says:

    this is the best way to know all term plans
    sandhu singh

  323. Phani Kumar says:

    I want to take a term policy,Can you suggest me some good policies?

    1. Phani

      No recommendations. You have to choose depending on your study and trust .

  324. mahendra says:

    I am 54 years old. I underwent heart bye pass surgery 12 years back.
    I seek a reliable term insurance.

    Pl advise

    1. Mahendra

      All the term plans are reliable . What do you mean by reliable here ? If you give all the information correctly in the term plan , then all are reliable


  325. Abhijeet says:

    i wanted to buy hdfc click to protect but it does not cover me till 65..(im 48 now and it offers a term of 15 yrs to me..ie till 63 yrs..)..So i zeroed down icici as it too has a high settlement ratio as hdfc..but icici icare does not have medicals..i will provide all details as far as my health is concerned to the best of my knowledge but the company people say tht i will have to intimate them in case i have any health complications or get any adverse habits after taking the policy..so tht there would be no problems in claim settlement if a claim arises..im ok with that but dont understand how tht information will help the company as my policy is already ON and even if i have any health risk after taking the policy,the company will have to pay if a claim arises so why ask for intimations after the policy is in force…??

    this is the practise with KOTAK also..would u explain the logic behind it..im thinking of finalising icici icare soon..what do u suggest

    1. Abhijit

      ICICI does not have medicals at all .. We cant comment on their logic, but better go with the company which you truly trust . Kotak or HDFC is good one to go with

  326. What if the guy during the premium time, he was not smoking but in later stages one starts smoking or vise versa.. are all such changes needs to be informed to Insurance companies..

  327. Hi,

    I see many companies have given very poor claim settlement ratio, in such cases of rejecting due to some issue, can the party who claimed would he get back at least the premium paid in full with Interest or at least the principal..

    Why not Insurance companies check before issuing the policy, while they can find the issue at settlements time.. Is this some kind of loose business game which Govt too supporting..


    1. Raja

      All the rejections happen when some facts are hidden by the applicants .

  328. HEMAL PATEL says:

    Hi Manish,

    You are doing excellent work by providing/sharing such information.I am very thankful to you.

    I want to know, if i purchase ant online term plan from pvt sector ,
    (1) What should be the claim process for online plan? ( If reuires)
    (2) Will it be different from coventional( MANUAL) CLAIM process?

    I am planning for HDFC Life Click 2 Protect plan for Rs. 1 Cr. I am 28 years old , married.

    Thanks in advance… Have a nice day ahead..

    Hemal Patel

    1. Hemal

      Online or offline term plan both have same process . here is one template for claim for insurance : https://www.jagoinvestor.com/2011/01/financial-details-emergency.html


  329. Preeti says:

    Thanks alot,very informative and well researched

  330. balaguhan says:

    dear manish
    i took a term plan in HDFC in 2007 for 20 lakhs with AD rider 10 lakhs premium is 10000 Per annum. now i am thinking of discontinuing it and taking a new term plan in KOTAK as the premium is low also coverage is upt0 70 years what is your suggestion

    1. Balaguhan

      You can read our latest article on this topic with some points you should keep in mind https://www.jagoinvestor.com/2012/03/switch-new-term-plan.html

  331. Sunil says:

    Are there any purely accidental death, permanent disability policies. I could find two plan for the same..Bajaj Accident Guard and Reliance Personal Accident.
    Kindly share some more information on the same.

    Thanks and regards,

  332. pradip says:

    Dear Mr. Manish,
    Thanks a lot for your reply on my post of 20/08/2012 in which I showed my desire to take two terms plans and your advice was that it should be taken only if it is required. Let me put my situation on this forum. My wife and I, both are 34 year old and central government sevent with all facilities such as medical etc. I am covered in old pension scheme while my wife is in new contributary govt. pension scheme. We get good salary and there is no liability except one daughter, one and a half year old. Now my queston is, as both of us are in govt. job getting good salary, is not taking the term plan by either of us worthless rather we should invest that amount in property/mutual fund/equity keeping in mind the investment is being made for long term? Also, one more query : someone suggested us to take the annual accidental insurace from UTI or other trusted company where premium will be less as likelyhood of our accidental death at this age is more than the natural one? please advice us. Thanks in advance.

    1. Pradip

      All you need to do is ask your self , what happens if you die or your wife die ? Would the other person need some extra money apart from thier salary/assets ? If the answer is yes, then you need to take insurance for that much quantum? I ask you , If you die, will your wife have enough from her salary and your assets to meet all the life goals ? Simple question !


      1. pradip says:

        Dear Manish ,
        Thank you very much for your reply. As I asked you to advice us on the accidental insurance which also gives a cover of around 40 lac just by paying the annual premium around Rs. 1500/-. The only requirement is to renew it yearly. Please spread some light on it as well. Let me also inform you that we both are assistant prof. and getting almost the same salary and so we have decided not to take any term plan.

        1. Pradip

          The policy you are talking about is accidental policies , so just in case of death by accident or disability due to accident , it will be helpful else not .

  333. Pramod RW says:

    It is a very good article. My experience about e-preferred Kotak:
    * Opted for e-Preferred term 50Lakhs, upto 70 yrs age.
    * Preferred term through agent was expensive by about Rs 1000. E-term is 1550 per month.
    * Got a call that Kotak man will come to collect documents in Chennai. But Kelambakkam was out of Chennai, so nobody came. I called the office, was requested to visit the office. Went to Egmore, submitted a form. That was ok and fast.
    * Got a call and email after 3 days to go for a medical test at prescribed place. It was easy, they checked blood, urine, liver, made me to run on the mill and checked heart.
    * Policy confirmed after a week. Online payment started. Original policy documents were sent to my address, returned back as I was at Nagpur for Diwali. But online policy documents are downloadable.
    * I sent change of address and proof by email, acknowledgement was received, but policy documents are not yet received (2.5 months). I am following up now.
    Thats all!

    1. Pramod

      Good to hear your experience .. I think you are happy with over all experience other than the last point where you are waiting from their side on communication address change .. but thats ok , it will happen !


  334. sagar says:

    I dont get how icici icare can give a sum assured as high as 40L w/o medical tests as they say on their site…no medical tests

    please shed some light on the phsyche behind a term plan w/o medicals. . . .

  335. Guru says:

    Thanks for Very Good Article.
    I have a question. I had applied for the term insurance from Bajaj with insurance cover of 30Lacs + 10Lacs (AD) + 10Lacs (DR) = 50Lacs with 10K premium.
    After medical tests company is saying that I have high colesterol and I need to pay 10.5K extra to avail same insurance cover.
    Or I can get 10Lacs + 15Lacs (AD) + 15Lacs(DR) + 10Lacs(WP) insurance cover with same premium(10K). Does it make sense to go for this revised insurance cover with same premium? Or shall I take some medicines to get my cholesterol under control and apply again? Thank you in advance for your advice.

    1. Guru

      The loading (increase in premium) is justified . As you are not healthy , the premiums will be high for sure . Dont compromise on the cover amount otherwise you will kill the purpose of the whole thing . Better go for it or choose another insurance company and side by side , take care of your health .

  336. Abhijeet says:

    im 44…im opting for a online term insurance plan from hdfc and i was going through the application form and there are certain questions about my health like if have any heart related problems etc etc…now as far as my knowledge is concerned i dont have any such complications but then iv not had a medical check up so i dont know wat the exact condition is…so wat does the company expect from me as an answer???…
    Il answer truly as far as i know right???
    is it the right way??..itl not create any problems ???

  337. anurag shrivastava says:

    Dear Manish

    A very nice piece of information.Great job Bro.

    Kindly suggest me to take the best term insurance plan of atleast 2cr for my family.The plan should perfect.



    1. Anurag

      Sadly one cant recommend a plan like that, it has to be choosen by you only , no one else . which company do you trust ? Take it from that one only . price is not the only thing you have to see .

  338. Siva Prasad says:

    Dear Dhawal,
    On February 17th 2012, I have received the Policy Document and found mistakes mentioned below.

    1. I applied for term 27 years, but in policy documents it is mentioned as for 25 years.
    2. I have paid Premium 3998/- only (including Service Tax), but it is mentioned
    Premium as 4025/-
    3. I did not choose step-up option, but it is included in policy document.

    Sir, Please help me . I already mail to Kotak, but very careless response by saying that after adding tax premium will be 4025, without verifying with my application.

    Thank You
    R Siva Prasad

  339. pradip says:

    This is a wonderful online discussion site which gives lots of informations about the term plans. It helped me a lot. Now I am planning to buy two term plans as suggested by mr. manish. Thanks a lot to all of you.

    1. Pradip

      Term Plan is recommended only if you need it !


  340. Bharat says:

    Hi Manish,

    This site is very informative on all investment and insurance related benefits and issues.

    I am an NRI and have taken term insurance recently with Kotak Mahindra. While applying for term insurance my status is NRI. If I decide to move to india for good in 5years time my status will not be NRI and do I need to inform my insurance company about this status change?

    Also if something happens to me while I am in india will the insurance claim be rejected. For NRI’s is it any mandatory that the death should happen only outside of india.

    Please clarify my doubts.

    Bharat A

    1. Bharat

      There is no compulsion like that .. you can come to india and do not need to inform about it . This I am saying as this is the rule in most of hte term plans , but better go through the policyh documents once and read it .


  341. Sune says:

    What do you prefer Manish – online term plans or offline term plans?

    1. Sune

      I am fine with online term plan , however those who do not trust online channel , should take offline term plan only

      1. Sune says:

        realized the online term plans are cheap. would like to go for online term..
        but which one do you recomend to buy?

        1. Sune

          You choose the company you trust , not by the price

  342. Pingback: Advice from Heaven
  343. KoolPal says:


    Can this chart be updated with the latest premium rates and maximum age of coverage?

    Would be appreciated.

    1. KoolPal

      Would do that soon

  344. SACHIN says:

    Hi Manish,

    I am 30 years old, married man with one kid (2 years). Currently i am planning to buy a home of Rs.26. 00, 000/- which i am taking loan of Rs.20, 00,000/-. Recently i went to a bank to negoatiate home loan, at that time they suggested me to take Homeassurance term plan to cover home loan. They are offering only single premium for 20years(single premium is Rs.54,000/- for Rs.20,00,000/- for 20 years cover, which is reducing). They will add this premium amount in my home loan on same intrest rate.
    I need your suggestion that, should I go with this home assurance plan or i need to take seperate term insurance plan form any company. Below are detail of my present policies with cover.

    1. Birla Sunlife Dream plan (ULIP): monthly premium – Rs.2121/- with cover of Rs.20,00,000 + 10, 00, 000 (AD). – I have already completed 3 years and planning to surrender this policy, since there are no as expected returns from this policy within 3 years.

    2. Aviva Yong Scholer Advantage (ULIP) (this is for my 2 years kid): Monthly Premium – 2036 with reducing cover of Rs.10,00, 000 + Sum assured. – Completed 1 year.

    Now my question is , Since i am going to purchase a new term policy which can protect my Home loan and other needs, wht do you suggest , should continue with above two policies with additional Term insurance policy or can i surrender above policies and go for pure Term insurance with parallel investment in Mutual funds.?

    1. yes .. taking a term plan with parallel investment is what we generally suggest !


  345. venkat says:

    Hi Manish

    Awesome… site..
    I cant tell you how it helped me in taking decision to move to term plan..
    gr8 job…

    If u publish the current settlement ratio also, that would be great…!


    1. Venkat

      Will change the data soon !

  346. Tejas Shinde says:


    I am 26 year old single with 5.0 lpa salary. I am planning to have one insurance policy with around 25-30K annual premium and am confused as I dont know much about this area. Can you please suggest me which things should I take under consideration before buying a policy.? Also can you please suggest me some good plans?

    1. Tejas

      Better do not buy anything with word “Policy” in it .. Go with mutual funds … start a SIP of 3k per month

  347. Abdul says:

    1. what are the possible reasons to reject term plans ..
    2. which company term plan is best for 42 years lady 50 lac
    3. online or agent.
    4. what are the documents needed to open term plan

    1. Abdul

      1. Wrong info in Term plan

      2. Any term plan is fine for that ..

      3. Your preference , online is recommended if you are fine with it

      4. Company will tell you

  348. Animesh says:

    Hi Manish,

    I appreciate your work and analysis. I am planning to buy a term plan. I saw a lot here about Kotak. LIC premiums are too high. According to my investigation BSL has also got a good term plan. Please provide your inputs.

    1. Animesh

      Almost all the companies have online term plans now .. so how do we define “good term plan” now ? What is your definition ?

      1. Animesh says:

        Hi Manish,

        Thanks, it gives opportunity to share my points to rate a company, these are- Annual Premium
        Riders Availability
        Claim ratio
        Operational period

        Now please share your thoughts about BSL Protector term plan, though its not online but this company is operational since a descent time period.

        1. The article gives you first and second part already .

          The operational part is what you can find out , LIC , Kotak , SBI , ICICI , HDFC , BSL are all good one’s

  349. Anil says:

    Great article, kudos to you Manish!!
    …Just a quick question, perhaps it is discussed already but I need to see it as an answer to my question.
    If I buy Insurance1 from company-A for “X” Sum and buy Insurance2 from company-B for “Y” sum (declare all correct info including the insurance from the other company) in that case should anything happen to me will I get the sum insured from Company A & B both ie total SI= X+Y??

  350. Max says:


    I am married 30 years old living with parents and have taken a home loan 15 lacs.which Term insurance is suitable to me or which Term insurance is best in industry.

    Could you please guide me


    1. Max

      there are many options like HDFC , Kotak , Aviva and ICICI , LIC

  351. Animesh says:

    Hi Manish,

    BSL has also got a good term plan. Please provide your inputs.

  352. Ravi says:

    What is the difference between Aegon iterm old and the newly launched iterm?
    One difference i know is that they cover terrorist attcks? Will my oldpolicy from Aegon cover that or i will have to purchase a new one?

    1. Ravi

      Over time mortality charges come down , so the premiums are low ., you need to take a new one

  353. Sonia says:

    Hi Manish,

    First of all,, thanks for such a informative blog.

    I want to buy iTerm plan fron Eagon religare but i am not very clear about riders.
    Religare offers 2 riders AD & WoP .

    My Que is : Why AD Rider is seperate, are there any hidden facts ? If i buy a plan and do not choose AD , and i died in an accident (i am a bad driver 🙁 ) , will my claim be rejected ?

    Or vice versa, i choose AD , but i end up with a disease , Will i get my Additional cover

    I want to buy a term of 1 Crore.
    Please advise.

  354. Sonia says:

    Hi Manish,

    A really worth page to read , you answered a lot of question already , but i have some doubts

    I am looking for a term plan from Eagon reliagre worth 80 Lacks.
    But i am not able to understand the riders clearly, why companies add AD & CI riders sepeartely ? does it mean if i dont opt for an accidental rider & later i died in an accident, they wont cover that claim.

    Or in case i opt for AD rider say additional ( 20 L) & then insuree died of critical illness, company wont settle the 20 L claim .

    Even i read somewhere you suggesting one should invest 50 % in base & 50 % in riders . Why so ?


  355. Jerry Jose says:

    Yes there are attractive term insurance plans with private insurance firms which offer a huge sum assured with a minimum premium. But when the claim settlement comes, the ratio between claim application and settlement is low. If there is so many hurdles to settle the claim, or non settlement of claim, what is the use of such term insurance plans. The deceased person do not know what happened to his beloved family and kids he planned to get a big amount after him.

    1. Jerry

      Claim rejections and settment is story of all the insurance companies .. most of the claim rejections are function of how badly agents were trained to fill up the forms of customers .. Claim settlement numbers also have direct relation with the number of years a company is in business .

  356. cavin says:

    hi Manish,
    i would like to know which is the best plan having low premium, good settlements, riders keeping in mind for a 32 year old. iam planning to take at least one crore term insurance. kindly help. thanks

    1. Cavin

      Best claim settlement comes from LIC only , but other options are Aviva and Kotak


  357. Aditya says:

    I have an endowment policy with metlife from past 10 yrs in my mother’s name, premium paying term was 5 yrs. I have been getting mere 3.5% bonus every year. should I surrender it ? I am planning to invest in mutual funds.

    1. Aditya says:

      this policy was taken only for saving tax

    2. Aditya

      Definately you should surrender it and start in MF, fast !


      1. Aditya says:

        what would be the tax implications on surrendering the policy? will the proceedes be taxable?

        1. Aditya

          If the surrender is done before 5 yrs, the surrender value would be taxable

          1. Aditya says:


  358. Vishal Agrahari says:

    Hi Manish,
    Thanks for the Info!
    Comparison chart given here is of 2009-10. Please provide 2011 comparison chart. I am thinking to go with hdfc life term plan as they have started online term plan. Latest comparison chart can help me to decide. for reference: http://www.hdfclife.com/Products/ProtectionPlans/TermPlan.aspx

  359. Aditya says:

    pls provide the comparision b/w term plan and whole life plan. to my understanding both are pure insurance plans wherein premium is not returned. so it makes sense to take a whole life plan and enjoy life long coverage than going for a term plan for 20/30 yrs. pls correct me if I am wrong.
    do companises provide whole life policies online just like term policies?

    1. Aditya

      Whole life plans also give you some maturity benefit .. so in a way they are not pure term plans .. Better not to take whole life plans

  360. Manjunath says:

    Dear Manish,

    I wanted to buy online term insurance plan. Please suggest me for which plan I need to go and give atleast three companies from where I can finalise. My details are mentioned below.

    Age: 28 yrs
    Occupation: Sales Manager
    Annual Income: 3,50,000
    Married person
    Have family history of critical illness like cancer, diabetics

    1. Manjunath

      LIC , Aviva iLIfe and Kotak are your options


  361. Nikunj Patel says:

    Hi Manish,

    This is very nice article on term plan.

    But i have one confusion, if i have separate health insurance then is it necessary to buy policy with additional riders?

    I am very confusing about different rider option.


    Please guide me.

    1. Nikunj

      If you already have a health plan with those riders , then no need to take additional , but incase you dont have those riders and you need those riders ,then you can take it


  362. manish jani says:

    Dear Manish,

    My data are : age 39, need 1,00,00,000 sum assured, 20 years term, since 1995 i am working in govt. till today no illness, i am a non smoker non alcoholic, vegetarian, very good family health history.

    Please sagest the plan, company and online or offline option?


    1. Manish

      Online or offline can be decided by you only ,do you trust online term plan , do you really like the model ? If yes ,then you can go with Aviva ILife term plan


      1. manish jani says:

        Dear Manish,

        I will definitely go for online plan.
        you suggested me the Aviva i care plan, but the company executive (on toll free number) said that they do not offer their online plan at Bhavnagar.
        I offered to go to their branch at Ahemedabad or Rajkot but she refused.
        The claim rejection ratio of Aviva is good compare to Aegon So I am interested to go for Aviva.
        Is there any solution?

        1. Manish

          the online term plan is available only in few cities .. bhavnagar is small place so mostly no online term plan would be given there.. you can then look at offline term plans

          try Kotak preffered , which is offline and premiums are good


          1. manish jani says:

            thanks for repply.

  363. Amit Kapoor says:

    What is the best way to buy Critical Illness or Disability Rider.
    I was told by an agent that if I buy these as part of your Life Insurance the premium will be more but if you buy these as standalone policy by any general insurer like New India Insurance or Oriental Insurance it will be cheaper.

    1. Amit

      There is no standard rule like that .. the premiums for riders can be cheaper or higher .. depending on which company are you talking about . I would suggest if you need full features of a accidental policies,then go for standalone policies else just go for riders


  364. Kajal says:

    Hi Manish
    I am single 27 years old girl working with IT industry.

    Do I need to get a term insurance plan for myself? If something happens to me, my husband would be there to take care of my kids.
    If God forbid, something happens to both, we can get a term insurance plan for my husband only with good SA.
    I am not sure if I need this.

    Also, which company should I opt for this? I was planning to take policy from LIC. Pls suggest.

    What kind of medical tests are perfomed during policy issue? I dont have any medical complications, but from last 2 yrs, my cholestrol level has gone up. I am trying to get this sorted but if I take policy till march, this will remian as an issue. Let me know if there could be some problem due to this.

    Also, I will be undergoing Eye lasik operation in March. would it affect their medical fitness criteria for policy issue?

    1. Kajal

      You need a term plan only if some one is going to be financially impacted because of your absence .. whcih you said wont be the case .. so you dont need a term plan , you can get term plan for your husband in that case ..

      There will be basic medical tests only and your declaration will also be there which is for preexisting things .


  365. milind says:

    Dear Manish,
    i am very happy with this site con taints,
    i would like to know that once i take term policy from any company can it change the premium in between after some days such as medi claim policies .
    after certain age can they change the rates for running polices /in force term plans.
    for example today is termplan is of 5000/- p a premium , after 5 yrs they may ask 15000/- for the same policy which i am paying for last 5 yrs properly with out break ?
    so its better to take policy at early stage of life for longer term as much as possible.
    Thanks ,


    1. Milind

      Term plan premiums are contstant after you have purchased it 🙂

  366. R SIVA PRASAD says:

    Hi Manish,

    1)Opting for riders in Offline Kotak preferred Term Policy
    2)taking personal accident policy plus online Kotak e preferred term policy

    Please tell which is best or cost effective between above two options.

    Thank You
    R Siva Prasad

    1. Siva

      from cost point Rider would cost less, but it will not provide you all the features . So if you only want limited but most important features , you can go for riders

  367. Narasimha says:

    Hi I am 30 years and i am planning to take Teram Insurance for 50 Lakhs.

    I have choosen Aviva I life,HDFC Click 2 protect and Kotak E-preferred.

    Based on the Claim settlement ratio and other factors i feel that HDFC Click 2 protect is the better option But i am not sure.I am confused to choose one. Could you please help me on this.


    1. Narasimha

      HDFC click 2 protect is a new term plan … Aviva and Kotak already were in market .. you can buy anyone these .. dont spend too much time on analysis and less on action , just make sure you put the right info in the form


  368. DR. MODI MAHAVIR says:

    Dear Manish,
    Your article is an eye-opener.
    Shall I syop payning premiums to my other LIC policies which are more of investment based rather than covering life? How to go about kotak,s term insurance thru net? If I take the policy online, who will be my agent & who can help me in cash settlement issues years after, if required?
    Pl guide

    1. LICAgentJaved says:

      Dear Manish
      Claim settlement ratio of 2010-11 has been declaired by IRDA. I think new data will be useful for our readers.


    2. Dr Modi

      Online term plans dont have any agent ? Why do you need any agent for settlement ? There is no return component in these term plans .. better go for aviva or kotak term plans .. if you are not comformatable with online term plans , then catch and agent and take offline term plans


  369. R SIVA PRASAD says:

    Dear Sir,

    Please suggest any online term policy, that provides riders except ICICI PRU, which i already have.

    Thank you

    1. Kotak offline term plan has riders ..

  370. R SIVA PRASAD says:


    Though online policies are cheap, I did not find those with riders.
    Please suggest any online term policy which also provides riders.

    Thank you
    R Siva Prasad

  371. sajid says:

    Hi manish,

    Thanks for the informative article.
    I am 30 yr old single guy with a annual package of 6 lacs, having dependent parents.
    I have decided to go for a 1.20 crore term cover spli into two.
    1) I have shortlisted BSLI protector plus with waiver of premium option.
    the premium comes to about 11k. BSLI has a very high service rating (source : i-save.com) apart from competent claim settlement ratio.
    2) SBI Smart Shield without any riders it comes to about 60 lacs with 11k premium. I have thought of going for a seperate accidental / disability policy inst
    Please advise me on this choice as i have seen very few people on this suggesting
    BSLI term plan.
    Thanks Manish, hope you will be replying at the earliest

  372. sajids says:

    Hi manish,

    Your article was very helpful.
    I am 30 yrs single guy with an annual income of 6 lacs / annum with dependent parents.
    I have shortlisted 2 Policies for 1 crore split up.
    1) BSLI Protector Plus Plan 60 lacs with Waiver of premium rider.
    It will be costing about 11k in yearly premium.
    I have shortlisted BSLI cos it has very good service ratings (from i-save.com ) and a competent settle ratio. Also it is the only company providing the WOP rider which I think is more important than the ADB / Disability rider (as a seperate policy can be taken for this)
    2) SBI SMART SHIELD for another 60 Lacs costing another 11k (shortlisted only bcos of trust, it has very few offices & operates mainly through bank branches)
    Manish, Please give your opinion about this as i have seen in your blog very few people prefer BSLI policies.
    Thanks in advance ,


  373. Deepesh says:

    Hello Manish,

    I wanted to have your feedback regarding my insurance requirement.
    My current requirement is Rs. 1C. Out of that, I decided to divide into 2 policies (one online & other offline).

    For online, I took ICICI iCare last month for Rs.50 Lakhs.
    For offline, I want to take it with critical illness and disability rider. I checking all options. I got following quote from Bharati AXA (Bharati AXA Elite Secure)

    Premium-Rs.6510 (for 30 Lakhs for 25 yrs)
    Critical Illness Rider – Rs.2500 (for 10 Laksh for 25 yrs)
    Accidental Death & Disability Benefit – Rs.1350 (for 10 Lakhs for 25 yrs)
    Total – Rs.11427 (including ST)

    When I want to increase my insurance later, I will go for another online plan.
    Could you provide your opinion?


    1. Deepesh

      Why dont you look at Kotak offline term plan . that also has riders and will come cheap


      1. Deepesh says:


        Thank for your feedback !!

        Today, I calculated the premium using the excel sheet in Kotak website. Following is the quote I got,

        Basic Plan – Rs.6303.65 (for Rs.40L for 25 yrs)
        Permanent Disability Benefit Rider – Rs.441.20 (for Rs.10L for 25 yrs)
        Critical Illness Benefit Rider – Rs.5073.80 (for Rs.10L for 25 yrs)

        Total Premium including ST – Rs.11,819

        Premium is almost comparable to what I got from Bharati AXA (for Rs.30L+Rs.10L+Rs.10L = Rs.11,427)

        I am little confused about the difference in premium for CIB rider.
        For Bharat AXA, it is Rs.1350 but for Kotak it was Rs.5070. Similarly for PDB rider as well. For CIB, one difference I see, in Bharati AXA this premium is only for 5 yrs. After that it will be revised.

        Could you provide your feedback on the differences?


        1. Deepesh

          depends what all they are covering in CIB , that makes the difference in premium … better not go with Bharti AXA ..

          Go with someone who has a constant premium like Kotak or Aviva , also dont over analyse … few hundreds here and there is fine ..


          1. Deepesh says:

            Thank you Manish for your inputs !
            It helps me. Let me check Aviva quote as well.


            1. Deepesh says:

              Hi Manish,

              I see that Aviva does not have disability rider on offline term.
              I see kotak meets my requirement now.


            2. Deepesh

              Incse you feel it meets your needs , then just go ahead ..

  374. Atul Kadam says:

    Good research, it found worth to me.

  375. Neeraj Sood says:

    Dear Manish,

    Warm greetings.

    Presently I am holding Birla Sunlife insurance policy for 40L and paying premium of 14K p.a which i want to discontinue. I am interested in buying a new policy for 1 Cr . I want to include terrorist attack, permanent disability rider in the same. Can you suggest a good policy having the same and have good settlement ratio too.

    1. Try SBI term plan and then Aviva iLife .. mostly it should be providing you the features .. but from claim settlement point, SBI would not be the best one


      1. Neeraj Sood says:

        Many thanks for your reply.

        Just one query can we trust Aviva or any other MNC insurance company. I just fail to understand why the premium of AVIVA are so less as compared to other policies. Whats you view on Kotak ePreferred, ICICI iCare,HDFC Click 2 Protect.

        1. Neeraj

          Aviva name is International , but they are as much indian as others like Kotak and ICICI , Even SBI has a venture with some international Insurance company .

          The premium depends totally on their underwriting procedure and how they view different parameters . Its your judgement if it looks fine to you or not .

          Kotak , ICICI are also good .. you can take the one you trust more .


  376. Jeetu says:

    I want to acknowledge over here that its because of your Article I took decision to have term insurance plan… When I contacted the Insurance Agent first time during the start of calendar year 2011 he was telling me the best option to opt for was Endowment policy… However somehow my intuition told that it is not right policy for me as I felt this is not what I want.

    After reading your articles during Oct-Nov. 2011, I contacted him again after long time… And asked him to give me the details of the term plan.. He gave me the details and finally the document process and medical process was over by end of Dec. 2011. So, I feel that this is the Gift which I give to myself before the start of New Year.

    Thanks Manish. It was because of your article I took the decision for Term Plan (which was indeed what I required).

    1. Thanks Jeetu

      Good to hear that 🙂

  377. Ravi says:

    Hi Manish, I am 27 years old and I would like to be covered until 65-70 years. All insurance providers only provide until 30-35 years from now. Not sure how to fulfull my criteria. In case i take a new insurance after wards, the premium will increase drastically. please advice.

    1. Ravi

      Some companies provide for more tenure also like Aviva. . did oyu check all the companies ? And why you want the cover till 70 ? reasons ?

  378. Narasimha says:

    I came to know about HDFC LIFE CLICK 2 PROTECT . I think it is a new online Term Insurance with lowest premiums.

    Could anyone provide the Cons and Pros of this policy when comapred to Aviv and Kotak?


    1. Narashimha

      There is not much to look at it … Its just another term plan , and not the lowest one

  379. Raj says:

    Iam 31 yrs old. recently I took ICICI ICARE online term plan for 30Lacs for 30 years. I disclosed all the previously held LIC policies and my current health status(touch wood iam not suffereing from any disease or illness/ailment as such, as of now 🙂 ).
    The policy has been issued and there was NO MEDICAL tests happened.Policy been issued under NON-MEDICAL category. I talked to the customer care but they say that there is no medical for this policy.

    Down the line, say after 5-10 yrs , if person expires due to some illness or due changed medical conditions, are there any chances that, they could reject the claim stating the medical facts not revealed.

    Is it possible that it b could verified that the person developed the health issues after taking or before taking the policy?

    If for some reason the claim is rejected, the whole purpose of Term insurance would be defeated.

    Should I continue with the policy or should i go for LIC offline policy as well?

    1. Ashraf says:

      Well in terms of claim settelment ratio, LIC is anyway better so from that prespective, LIC is an option you can look at

    2. Raj

      The premiums in this term plan mostly factors in the non-declaration part, but what you worry about is really something whose answer is not known, we might want to know more about this


  380. Minesh says:


    If I buy an online term insurance, I want to ensure that I undergo a medical check up so that no issues arise if at all a claim is required. Is this a correct approach?
    Does HDFC click2protect require a medical check up?
    Can I ask them to have it on record if they dont require it?

    1. Minesh

      THe medicals are done only after a limit of Sum assured , if you want to take 10-20 lacs of cover. . mostly you should not undergo a medicals .


  381. Vikram Sarode says:

    Thanks manish for providing useful infromation on term insurance.

    I am 33 yrs old married having 1.5 yr old son and not much aware about term plan. I have gone throgh above article and QnA forum. I have following quereis:
    1. Does medical test compulsory to buy term insurance Or few companies are allow without it?
    2. Does diabetes person buy term plan if yes then is premium more than normal?

    Please suggest appropriate term plan for me.


    1. Vikram

      1. Medical test are generally there if the Sum Assured is more than 50 lacs .. ICICI icare comes without medical exams ..

      2. Yes it will be higher .. mostly double and may be the cover can be denied also


  382. Ashutosh Gangrade says:

    Hi Manish !
    I am 27 years old and I want to purchase a term plan of 40-50 lac .
    Can you please suggest me to which company I should go with?
    Is there any plan in market which returns my premiums back on maturity with higher life cover and low premiums?

    1. Ashutosh

      You can go with kotak or Aviva .. there are policies which return the premium , but they are worthless policies .. whats the use of paying more ..


  383. Jay says:

    Dear Manish Sir,
    I need your help I want to child plan for my Son (3 months) and my niece ( 3.5 yrs.). So, you are requested plz. suggest me which is the best plan for the both.


    1. Jay

      Children plans are mostly ULIP’s or Endowment plans .. so better not go for them .. just invest in Mutual funds


  384. Kumar says:

    @ Baazi. for NRI Pl read this link
    @Manish – For NRI/PIO biggest problem is good trustworthy, easygoing investment manager, who can guide them about Mutual funds, Insurance, equity etc. etc. It’s very difficult to trust anyone. Either they don’t know anything or want to sell some crap scheme. One can recognise with in 5 minute of talk. All of my friends are facing same problem. It’s a potential big market for any Resident Indian Investment manager.

    1. Bazzi says:

      Kumar – I concur with you 100%. Thanks for the fwd, great source of info. Appreciate it.

    2. Kumar

      Hmm .. yea i can understand that .. only the time can tell if one wants to tap that opportunity or not


  385. Bazzi says:

    Hello Manish:

    You guys do a great job answering some really important but tricky questions – appreciate your work. I have a specific situation and after hours of googling for results, I came across your website. Would appreciate your advise or pointers on the below.

    I am an NRI and my status will likely change to “person of Indian origin” in the next 3 years. However, I plan to settle down in India and want to purchase term insurance for a period of 25 years (with critical illness & disability raiders). After going through your posts, I am very much interested in Kotak preferred or SBI smartshield policies. I know your posts highlighted thata LIC doesn’t support policies for PR/Greencard holders – wondering if you are aware of any such policies pertaining to NRIs/PIOs for Kotak and SBI? Is there a general rule applicable to NRIs/PIOs or does it change from company to company?

    If I can indeed apply for term inssurance – can you also clarify the process for obtaining the same?

    Dhawal – Your insights on the matter are appreciated too!

    Thanks in advance and appreciate your help!

    1. Bazzi

      These term plans are also for NRI’s .. however you will have to be present in India for medical purposes

      Go through these two links and you will get clarity


      1. Bazzi says:

        Thanks Manish – yeah, I understand we need to be in India. I was not sure if Kotak and SBI allow NRI/PIO applications – Kumar’s reply below seems to have answered my query. I guess I will need to contact an agent in India when I am there for the policy.

        1. Bazzi says:

          sorry i meant Kumar’s and your response to my query 🙂

        2. Bazzi

          Yea .. which city do you live in .. let me know once you are in India .. we might have some people in those cities who are trusted and linked to me .


  386. sajids says:

    Hi Manish,
    I am a 30 yrs old person who has just stepped in to economic awareness.
    I am a single as of yet with only my parents dependent on me my annual salary is 5.5 lacs/annum. I have only 1 policy Jeevan Tarang which covers me for 5 Lacs. I am already 3 yrs into it but will be converting it into a paid up policy.
    I have decided to go far a term insurance of 50 lacs intially.I need ur help for finalising a policy.

    I have shortlisted 3 policies.

    1) Hdfc click 2 protect
    2) Kotak preferred term plan (CI/AD/Disability rider)
    3)Birla Sunlife Protector Plus Plan (with all the riders)

    I am confused bout riders specifically Critical Illness rider.
    For Birla sunlife no documentation on riders are available the surgical & hospitalisation rider seems to be a novelty as no other companies are providing it. but with all this it becomes a bit too costly.
    For Kotak only the Illnes covered in CI are mentioned it does not provide any detailed elaboration of what will be covered or what not. Thats what makes it tempting & a sort of tacky & dangerous.
    I am not so much for the riders specially CI rider, I think the permanent disability & accidental death benefit are worthy & not too costly.
    Or the plan old policy without riders is good enough.
    Please comment Manish & other users as I have almost finalised the policy but stuck with these issues.

    1. You can choose a LIC term plan or an Aviva Ilife term plan and take a accidental policy seperately


  387. prashant says:


    I want to take 25Lakh term plan.please suggest me which is best on low Premium.

    Also its consider suicide and accident also.


  388. Dhawal Sharma says:

    Dear Manish and all,

    Latest IRDA report for 2010-11 is available on IRDA.GOV.IN

    I am please to announce that KOTAK is again in PROFITs for the fourth consecutive year (page 23) with VERY HEALTHY CLAIM SETTLEMENT RATIO of 90% (page 114, statement 13) having a more than high SOLVANCY RATIO of 2.67 against the required margin of 1.5 (page 123)

    Dhawal Sharma

  389. Aashutosh says:


    I am 33 years old and have a Metlife ULIP plan. I pay 40,000 per year for that. It’s been more than 5 years now. I have a 3 year old daughter and recently I took 3 LIC policies for her to get a certain amount when she turns 16, 18 and 21 years respectively.

    Now I am looking to buy a retirement pension plan. Any suggestions?? Do you think I should invest in any such plans?? Should I continue with Metlife MetSmart plan?? I had to pay the premium only for first 3 years but I have continued paying.

    Please advise.

    1. Aashutosh

      Dont invest in any retirement pension plan and I would say if you can stop the premiums for ULIP , then do so and continue with equity mutual funds .. read these articles



      1. Aashutosh says:


        Thanks for your advise. Regarding my ULIP with MetLife I wanted to share current status of NAV and Fund value of the ULIP plan. It says as follows:
        Fund Name: Balancer
        Units: 11818.48320
        NAV: 18.79330
        Fund Value: Rs. 222108.29976

        The above data is as of 21st Dec 2011.

        Is it doing good? What should I do once I stop the premiums?


        1. Aashutosh

          Better get out of the plan now .. dont pay further premiums .. its depends if you want to get the money in your pocket (fund value) or want to continue it and let the fund value go up and down with markets .,


          1. Aashutosh says:

            Hi Manish,

            I have decided to surrender MetLife policy. I checked with them and till today I have paid 2,37,720 and if I surrender the policy now they will deduct 40% of 1st year premium + tax and I will get close to 2,06,700 back. Loss of 31,000 🙁

            Thanks for your advice.


            1. Pradeep Borah says:

              You may try Non Forfeiture options for you metlife policy.

              Non Forfeiture options upon Non Payment of Premiums: If all premiums have been paid for at least three full years and any subsequent premium is not duly paid, the Insured shall have the following options:

              (i) Reduced Paid Up Insurance

              If the premiums for at least three full years have been paid, then the minimum non-forfeiture benefit will be a reduced paid-up policy (“Reduced Paid-up Insurance”), the face amount of which will be

              Total number of premiums paid X Basic Face Amount of Insurance
              Total number of premiums payable

              The policy is treated as fully paid up if the future premiums have been waived off.

            2. Aashutosh says:


              Thanks for your suggestion. Excuse me for my lack of knowledge but how does this help me? I have paid the premiums for 6 years now.


            3. Pradeep Borah says:

              I have similar policy policy of Anual premium of Rs6K only. I guess you are paying a sum of Rs40 K annual premium as you have paid your premium for six years. I you surrender your metlife policy now as you mentioned you are going to lose 31K and I guess the maturity period is 10 years. So stop paying the premium now. After the 10 year maturity of your metlife policy , you will get Rs 2,37,720 + 10% of 2,37,720. Here you are not losing your 31K , but getting additional 10% of your total premium paid. So annual premium of Rs 40K which is surplus for you now can be invested in mutual funds or any other instruments.
              I have also limited knowledge on the calculation part and just a conservative investor. I am sorry if some one found my justification wrong. Probably you may take some expert opinion also. Well I see to keep insurance and investment as two separate entity. Better to go for term insurance + health insurance + mutual funds through SIP.

            4. Aashutosh

              Better take the decision looking at the long term picture ..

  390. milind says:

    another question does the term policy covers the mishap in bomb blast or any terrorist activity like in Mumbai or so ?
    all Pvt insurance companies are under IDRA rules and is it mentioned on the policy they sell ?

    1. Milind

      Yes .. some companies include terrorist attack also.. but not all .. check with your company


  391. milind says:

    can we take term plan and other plans (traditional of LIC) in case of any mishaps will all be honored? is their any higher side limit for total SA or claim amount in total for a man (online or thru agent/with riders etc. all together).
    my worry is companies will collect the amount as much as they can and after at the time of settlement they will show rules that u took more than the limit of xyz amount so this claim will not be paid. like this.
    please clarify

    1. Milind

      No , it does not happen like that .. there is always a limit which is decided keeping in mind your income .. if you want to take more than that, companies will not give you anywyas .. Dont worry on that .. as a thumbrule you can take 10-15 times your yearly income as SA


  392. Narasimha says:

    Hi i have compared the Term Insurances of Aviva,Kotak and Icici.

    These are the premiums that i got for my requirement with out any Riders.

    Aviva I-Life 4977
    Kotak E-Preferred 7721
    Icici I-Care 9706

    My question is why there is diffrenece in the premiums for the three companies although all are providing the same benefits?

    Also please suggest the best one among the above.All the above have good Claim Settlement ratio.I am confused in finalyzing the one.

    1. Narasimha

      The premiums depend on the underwriting rules of the company .. you should go with the trust factor and not just the premium alone .

      1. Narasimha says:

        Thanks Manish..

  393. divyesh says:

    hi manish

    i m 27 year old and working with advertising. want to know about the term insurance.
    i can invest 10000-12000 yearly basis for 25 years. And i want atleast 60 lacs to 80 lacs Death Cover and even if nothing happen till 25 year can i get my money back ?

    and if yes how much and which is the trustable company to invest with according to you.

    1. Divyesh

      Term plans are only for covering you .. nothing else .. you can get 1 crore + insurance in 10k per year for your age .. You have options like Aviva iLife , Kotak


  394. Sanjay says:

    Hi Manish,

    You are doing a great job. I am 25 years old and took Aviva I-Life for 50 Lakhs. Premium comes around Rs.4051.

    1. Sanjay

      Thats good to know .. 🙂 . Didnt you consider other companies ? Why ?


      1. Sanjay says:

        I had the below choices,

        1. Aegon religare I-term.
        2. Kotak e preferred.
        3. Aviva I life.

        Out of these Aviva I-life looks very cheap with low premium and cover for maximum 35 years and also Aviva has a good claim settlement ratio when compared to the other 2.

        1. Sanjay

          You can go with any of them .. just make sure dont give any wrong information


  395. A V says:

    Well written article but very misleading/uninformed on LIC plans.
    The mentioned riders are available on LIC’s policies as well. In fact what is given as WP & DR riders are BUILT-IN in every LIC policy and as for the mortality tables being used, it is LIC’s mortality tables being used across the industry as on date – the only authentic tables available for the country as of now.
    The compulsions for under-cutting premiums are obvious and their repercussions are there to be seen in the claim-settlement ratios, litigations, strictures, and ofcourse in the balance sheets.

    1. AV

      Can you explain on riders being inbuilt in LIC policies ..which part of the article you dont agree with ?


  396. sourabh says:

    I am planning to take a term plan of 50Lacks (25L by LIC(Jeevan Amulya) + 25L by Kotak Prefferd).My current age is 29Years.Is my choice correct?What would be the anual premium for these policy.I am looking for policy which provide below features Accidental Death,Accidental Disability Rider,Critical illness,Waiver of Premium

    1. Sourabh

      You will not get these riders will LIC . there are no riders with LIC amulya jeevan .. note that 25 lacs premium with kotak will not be very high, but even for 50 lacs it would be just 5-6k . so your total premium should be around 20k max


  397. Om Prakash says:

    Dear Manish,

    I am finding huge difference in premium amount of online & offline application. Can you help me out in suggesting which option i should go for avoiding problems during claim stage.

    I am looking for 3 options for terms insurance Aviva ilife / HDFC click to protect / icici prulife icare. Sugesst me which one should i select.

    I am looking for 1 crore term insurance. Is it good to proceed with single insurance or break with two company.

    Om Prakash

    1. Om Prakash

      You can opt for Aviva + LIC , it will be mix of online and offline and a balance in premium too


  398. Pradeep Borah says:

    What is the best choice to buy?

    Term policy with Critical Illness rider or Health Insurance?

    I have term policy of SA 50L each from ICICI iCare and Aviva iLife.

    Pradeep Borah

    1. Pradeep Borah says:


      Thanks I got the reply from the above post.


  399. Kumar says:

    Awesome, Just incredible. I was searching this since last 3 years. Well done, nice site.

    Now My ques is.

    1) I am based in UK/Ireland. Is this term insurance resident country specific only ? What will happen if I will change my passport?

    ( 3 years back i was almost cheated my an ICICI prudential guy, He was selling me a term product, which was valid only in India. )

    Thanks for all your help and support

    1. Kumar

      You can buy the term plans in India and it will be valid in UK, but make sure you target an offline term plan , because most of the online term plans do not support NRI’s

      U can look at ICICI iCare plan also as it does not have medicals


  400. PVR says:

    A very informativr thread.
    My query is reagarding the hazardous occupation part.
    hypothetically, if a proposer doesn’t declare his hazardous occupation and later if the life insured dies of a cause unrealted to his occupation,is the claim still liable to be rejected.

  401. Swain says:

    Hi Manish & Others
    Thanks a lot for putting up this blog. Very informative!!

    As I understand; we need to declare ourselves as “smoker”/”drinker” irrespective of how less often we do it. It is up to the insurance company to take the decision on how much extra premium one would have to pay over a “non-smoke/non-drinker”. Does the premium for a “smoker” vary from person to person depending on the frequency of tobacco usage? Asking this because, I smoke very rarely (1-2 per week sometimes per month)

    I am looking for a 50L SA term insurance. Since LIC is costly, Kotak not providing any riders, I narrowed down on SBI Smart Shield.

    Age: 35Yrs (Male)
    Term: 25Yrs
    SA: 30L
    Accidental death benefit rider: 20L
    Accelerated Critical Illness rider: 5L
    Accidental Total & Permanent Disability benefit rider: 20L

    Does the above split look okay? I already have a 30L SA (ULIP) from ICICI.


    1. Swain

      Yes .. this looks good .. I guess even Aviva has riders .. did you check that ?


      1. Swain says:

        Hi Manish
        I selected SBI only because of trust factor. Could you also clarify my below query?
        “Does the premium for a “smoker” vary from person to person depending on the frequency of tobacco usage?”


        1. Dilpreet Singh Bagga says:

          Dear Swain, the premium remain same to start up i.e. till the time of logging in the policy. Rest, depending on your medicals including nicotine level in your blood, the company will take a call on loading/extra premium to be charged.



      2. Swain says:

        Hi Manish
        I selected SBI only because of trust factor. I would appreciate your response to couple of my queries below.
        1) “Does the premium for a “smoker” vary from person to person depending on the frequency of tobacco usage?”
        2) Is it okay to let the agent fill-up the forms and we provide him necessary documents? Or I should do it myself to avoid any miss interpretation of data?


        1. Swain

          1. Premiums shoudl differ

          2. You can let the agent fill it , but you have to verify it .. the point is you should be aware of what is mentioned in your proposal form , thats all


  402. maneesh says:

    dear manish
    i am a 39 year old doc, who has been following your views, i have a working wife,she is a docter,2 children. 7 yr daughter and 1 year son, my saving for them is about 1.5 lac per year for daughter, 1 lac for son and 2 lac per year for ourself in SIP,besides PPF and Bonds,FD. My present oustanding home loan liabilities is 18 lac .I have decided on 2 term plans. Please suggest , also what riders are important ?and must have at my age

    1. Maneesh

      the riders can not be suggested like this , riders totally depend on what you want .. Better not take riders , and take those benefits from a standlone policies


  403. sunil says:

    i am age 33 year and applied for kotek preffered term lnsurance plan for the some of Rs. 25,00,000/- and Rs. 10,00,000/-for permanent Disability rider for 25 year term. whether i have choose a good compmany and his plan to secure future of my family.
    weather i have recomend to change the company or not.
    what is the ratio and performance of company.

    the main doubt in my mind if the company will goes end in future or insolvant then how my family will secure as i have already take the term insurance company
    sunil kumar

    1. Sunil

      Kotal preffered is a good plan , dont worry


  404. LICAgentJaved says:

    Hi Mr Manish
    Do you mean Policy holder has violated many rules and nominee cannot encash the policy after death of the policy holder?

    1. LICAgent

      Obviously , If companies investigates then if they are reject the claim , then how will the nominee claim the amount ?


  405. LICAgentJaved says:

    Hi Mr Manish
    Hypothetical question Mr A has takent 15lacs SA policy from 20 Life Insurance Companies Total SA 300 lacs because he has no Income Proof for 300 lacs SA Policy without informing other companies, ( by doing this he also escaped without special Report Requirements)
    Mr A dies after one year or 5 years or 10 years, can nominee will be able to claim SA from all companies?
    Answers from other experts also requested.

    1. LIC Agent

      No , he will not be able to incase he has violated any rules and did not answer the companies form properly


  406. LICAgentJaved says:

    Hi Manish
    A hypothetical question if Mr A has taken same day or same month 15 lacs term insurance from 20 companies total SA 300 lacs without informing other companies as he has no income proof for taking 300 lacs SA policy.
    What will happen when he dies say after one year or say 5 years
    Can nominee can claim from all companies.

  407. Addy says:

    Hi i have short-listed 2 online term policy.
    1.Kotak mahindra
    Kindly help me to chose one.Need to take quick decision as my next birthday is in the next week. if i cant take the policy before that the premium will be raise.

    1. Addy

      Both are fine .. but AVIVA is more cheaper ,.. also , your premium alwards depends on your nearest birthday


  408. Ajay says:

    I applied for a online term policy through ICICI prudential (Icare-II). It was a wonderful experience. I just had to email them copies of PAN card, photo and salary slips. Within 1 week I got the policy document. I would definitely recommend this to anybody interested in term plans.

    1. Ajay

      Thanks for sharing that experience with us , that was useful


  409. Girish says:

    Hi Manish,
    What is your opinion about Jeevan mitra(triple cover policy)from LIC. Do you think it would be a good policy which can give good returns at maturity. Please advice.

    1. Girish

      its all about name and the features , but ultimately , the return in long run would be in range of 4-6%


  410. kahnu says:

    Dear Manish,

    I am 31 yrs old n i have a baby girl of 1 year.my annual income is more than 7 lakhs. I want to go for a term policy.Please suggest me which term policy should I prefer. I want to go through online but should these policies reliable ? I dont want to go with ICICI icare as it does nt have medical test which may create a problem in future.

    so please suggest me for a good term policy and a better financial investment

    1. kahnu says:

      dear manish I have gone through this article and some of these comments . I am unable to get my solution and also these comments create more confusion for me.
      please suggest.

  411. S K GUPTA says:

    The premium for i-term plan from Ageon Religare is very-2 low. Can you exactly tell me why it is so low than LIC etc. And exactly what kind of problems can be faced during settlement of claim, in case of any casuality.

    1. SK Gupta

      THe answer lies in the comments section , please take the pain of reading those .


  412. Girish says:

    Dear Manish,
    One of my friend who has taken LIC Jeevan Saral and is suggesting me to take Jeevan saral. Do you think it is one of the best LIC policy to take. Please advice.

    1. Girish

      No its not . Ask your friends to give you an IRR analysis of the policy . You will know what you can expect from the policy . read these threads


      1. Girish says:


        Thank you very much for your reply.


  413. Narasimha says:

    I have a question on Term insurance.

    Now the person is a Non Smoker and Non Alcoholic.After few years he started smoking and drinking occasionally.Will it be informed to the Insurance company?If so what is the procedure and what are the consequences of this scenario?

    1. Narasimha

      No , you dont have to communicate it to company later


      1. Narasimha says:


        Thanks for your reply.

        If i do not communicate it to the Insurance company won’t it cause any problems during the cliams ?

        1. Narshimha

          No , in Life insurance you have to provide the data for present (at the time of taking the policy) , What happens later to you is not to be communicate . Dont worry .. the pricing of premiums factors all these points already !


          1. Dilpreet Singh Bagga says:

            Dear Manish/Narshimha, at least with Kotak, one has to update the company on their change in habits in terms of smoking and drinking. Since the products offer very competitive rates for non-smoker and even in the application form it is clearly defined and mandated to update if customer starts smoking in future.

            I think this will be same for all the companies who are giving special rates in term plans to non-smokers, else the advantage goes for toss.



          2. Narasimha says:


            I have got the answer.Thanks for your inputs.

            I have read this from 9 most asked questions about Term Insurance.

            5. What if a person becomes a smoker after some years of taking the policies ?
            If the policyholder has developed any habit, like drinking or smoking, after buying the policy, he has to disclose this fact to the company as now he belongs to a different risk pool. The company may levy loading(increase in premiums) on the existing premium or even cancel the policy. This is necessary as violation of this term can result in decline of the claim in extreme cases.

            1. Narshimha

              Note thats its only true for Kotak term plan and not a general thing


            2. Dilpreet Singh Bagga says:

              Dear Manish, I would like to add to you here. As per my opinion, this will be applicable to all products which are giving benefits of lower premium to non-smoker.



            3. Dilpreet

              I checked with Dhawal , he said once that its for Kotak policies but he does not think that its there for other term plans as well . Did you check any other policy details ?


  414. Mayur Birajdar says:


    Please let me know if I can go for AVAVA’s iLife plan? This is online product and comes with very competive price. Please review and suggest.


    1. Mayur

      Yes . you can go for it .. What is that which is bothering you . Note that you need to trust the company and take the responsibility


      1. Mayur Birajdar says:

        I am concerned about the claim settlement ratio, as anybody will be looking at it while purchasing any term product.

        1. Mayur

          yea .. you can check that on IRDA website


    2. Kapil says:

      I have recently opted Aviva iLife of 1 Cr. term insurance for 35 yrs.
      Premium is really cheap and competitive in the market.

      I opted Aviva after lot of research between Aviva and KOTAK, and found Aviva looks to be provided with lowest premium and maximum no. of yrs insured (35 yrs).

      Claim settlement report from IRDA seems to be mixed (online/offline), so cant consider it as a decision making step with 100% accuracy, but still both companies seems to be give a equal result.

      Profit wise, in the couple of yrs, many companies have started showing profits, whereas if you look the 5 yrs old report, all companies (Aviva, Kotak, ICICI pru) except LIC, were in loss.

      Factors i choose to decide is as follows –
      1. Premium
      2. Total no. of yrs insured
      3. Claim Settlement ratio
      4. Company Profits

      finally i choose Aviva iLife.


      1. Kapil

        Thanks for updating your experience 🙂 . It will help others


  415. Ram says:


    I am 30.My friend advised in Aviva for 50 Laks term plan for 30 years I need to pay premium of 16450 Rs every year, with returns [return of paid amount only, without interest after 30 years]. Is this advisable plan or can you suggest other good schemes available with more benefits? Do LIC have something same or Aviva right choice?

    1. Ram

      you should not take the return of premium p;lan , go for a without return of premium plan , that would be more better


  416. Mayur Birajdar says:


    Can someone help me by providing details for AVIVA and its new online term product i-Life. I am thinking of taking this product. Please suggest.

  417. Shirish says:

    How is Birla Sunlife’s Protection Plus?
    They have 5 riders inclusing premium waiver, for hospital expense, for surgical expenses, etc.

    1. Shirish

      our forum is a better place to ask this question : https://www.jagoinvestor.com/forum/

  418. YogeshK says:

    can you please post the IRDA report for year 2010-11 if you have the data with you?
    The similar one that you posted for year 2009-10 in the above article. It will help to analyse.

    1. Yogesh

      What data you need ? you can directly download it from their website


        1. Yogesh

          That might be combination of 1-2 data , but it will be from the IRDA website only . Can you check if 2011 data is there on IRDA website ?


  419. YogeshK says:

    can you please put the claim settlement ratios and other stuff (IRDA report) that you published for 2009-10 in the above article for various private companies & LIC for year 2010-11? On ICICI’s website I could see it to be 97% for 2010-11. Couldn’t verify about other co’s. Thanks.

  420. Tarun says:

    I applied for online term plan with almost all insurance companies (ICICI, Aviva, Metlife, Aveon religare) and all postponed the case due to abnormalities in ECG. To verify and find the reasons for ECG changes, I undergone CAG (angiography), results of which came absolutely normal.
    I reapplied for the term plan with Aviva after 06 months, and submitted the CAG reports with them. They, although, issued me the policy but with almost double loading. Since I was totally lost in hope without adequately covered after applying with several insurance companies, I accepted their modified terms.
    My question is that :-
    1. Will at any point it is going to affect my claims even if I have already disclosed all the details asked for and after their satisfaction/verification they have issues the policy.
    2. Now applying for another insurance policy, I have to mention that my X-policy is with extra-premium due to xyz reasons. How it will be going to impact?
    3. Was the decision to take a cover at modified rate be called a wise decision even if we are ascertain of normal health but since no companies was considering the case .



    1. Tarun

      You should not be worried for the claim now , because you are paying loading because of the same reason . Note that your report is not NORMAL , just becuse report does not say directly that there is a problem , even HIGH LEVEL of something might mean a RISK for insurance companies .. All companies are not acceppting it clearly shows that there is something wrong with report . Ask AVIVA to give you the medical report copy now , they will send it to you .


      1. Tarun says:

        thanks for the revert. They have already documented all the related reports in the comprehensive policy document. Will it be required then anyhow.


  421. Siva Prasad says:

    I have one term policy with ICICI prud. for 30 years for 10 Lakhs. I want to take another term policy with another company for 10 Lakhs.
    Please advice me best insurance company.
    I preferred Kotak, but have fear of claim settlement ratio.
    So, Iam in dilemma between LIC and Kotak.
    Request your suggestion

    1. Siva

      You can go with Kotak or AVIVA .. there is no issue


  422. Ammalu says:

    Hi Manish,
    I would like to make some investments. Currently I have 2 LIC policies(Jeevan Saral 20 yers, premium= 8958 and Jeevan Surabhi(25 years, 15000 yearly premium)).
    I want to invest 2000-4000 per month for a period of 10-12 years.Could you pls suggest me some good investment options?
    Thanks in advance

    1. Ammalu

      Go for SIP in HDFC Top 200 & DSPBR top 100


  423. anshuman says:

    i am a 30yr old male, work in a PSU, am married n have a 2yr old son. i had LIC’s amulya jeewan policy for 25lacs to cover my working of 30yrs. but discontinued it this year as the premium was high n it was giving adition cover for accidental death.
    I am looking for a policy which gives me critical illness benefit, disability benifit, accidental death benefit. Since all these come as riders in addition to natual Sum assured (BUT with a restriction that sum cannot be greater than 30% of SA), i am not able to zero in on a particular product. For example ICICI icare says that in case of accidental death additional sum equal to SA is given. but suppose god forbid one survives but is handicapped for the rest of his life, he receives nothing. In normal circumstances, at my age a person is most likely to think of covering accidental death/disability rather than natural death.I hope i am able to convey my point. looking fwd to suggestions.

    1. Anshuman

      in that case you should be looking for pure accidental insurance policies .. go for ICICI lombard or Some PSU policy


    2. sunil Date says:

      @anshuman In addition to Manish
      1 It is better to take a standalone CI and accident benefit policy instead of as a rider. generally standalone policies have many more features than a rider.
      2 CI is offered as a standalone policy by both Life and general insurance companies. I believe some GI companies have bundled Medical cover with CI and also with accidental medical.
      3 Accident benefit policy : These are offered by general insurance co’s. A standalone policy will not only provide for death benefit but more importantly it will cover disability. Please note that complete disability is a worser situation as one is like a living dead person. This policy covers situations like temp / permanent and partial / total disability. These policies are available at an astonishingly low premium but have not been promoted by agents as their commission are linked to the premiums; a low premium means low commission and is not sufficient incentive to take the effort.

      1. anshuman says:

        Thanku @ sunil for helping my cause…can u pls mention one or two good policies or companies offering such products.

  424. dixit vijay says:

    i am not sure why these companies ask for income proofs each time. someone may be a well to do person doing nothing but enjoying his parents properties and incomes. in such cases though he is having capacity to pay regular premiums but no income proofs then what options remain with him if he want only to go for term plan ?
    as i think incometax department also not insist to invest from your incomes for 80 c, then why this is so ? another question why household ladies are kept outside the scope of term plans ? i think on the contrary they are very less prone to accidents since households.

    1. sunil Date says:

      @dixit vijay 1 Income proof is necessary when one proposes for a high cover.
      2 The IT return will be accepted as Income proof.
      3 If one is not earning and also does not have sufficient investment income, why is insurance required ? Insurance is for protecting future income, i.e to take care of dependents if one is no more. In your hypothetical question the family can be provided for by the investment income.
      4 You seem to be looking at insurance as a tax saving avenue only. It is not a appropriate way of thinking either about tax saving or insurance.
      5 For H/W insurance, please refer 3 above. Insurance co do accept insurance of H/w but only for endowment (savings ) plan, that too with limitations corresponding to education level of H/w, corresponding insurance cover of husband, and number of years of marriage. These are WRT to moral hazard.

      1. Dilpreet Singh Bagga says:

        Sunil Date: Spot on with you revert to Dixit Vijay.

        1. sunil Date says:

          @DS Bagga Tks 4 ur appreciation.

  425. Shirish says:

    If I buy 2 Term policies form 2 different companies, do my family get benefits from both the companies or there is any hitch / conflict?

    1. Dilpreet Singh Bagga says:

      Dear Shirish, your family will get the benefit from both the companies without any hitch.

      The only thing required is that you should share your insurance details with the insurer.



  426. Vinay Shah says:

    I am 27 year old non somoker/non drinker and i dont have any medical issues.

    I need a term plan of 75 L sum assured, out of all the current term insurence policies in the market, which one according you should I opt for considering the various options available in the market.

    1. Dilpreet Singh Bagga says:

      Dear Vinay, you can look at Kotak, Aviva, or ICICI. All the three companies are having online products as well.



  427. Praveen says:

    Hi Manish

    Do you have any info about a plan which is a combination of Health insurance and Term Plan ??

    – Praveen

  428. Sunil says:

    Please convey how the life insurance policy is treated in case of death of policy holder and the nominee both. Whether any other family members can claim the insurance amount then.

  429. Adiga says:

    Hi Manish,

    What is the percentage of Commission an LIC Agent gets in Jeevan Amulya Term Plan


    1. Adiga

      All term plans (LIC and Pvt) have 25% premium in first year ,7.5% in 2nd and 3rd and 5% thereafter


  430. PANKAJ says:

    I am 34 years old and i want term plan 0f 50 lacs for 25 years .
    four and half years ago i have some problem in my head and stomach
    for this reasom the doctor advice me to go for CT SCAN and ENDOSCOPY
    but report for CTSCAN did not any thing serious ANd in ENDOSCOPY report reveald MILD ULSER , i took medicine and now i am OK and I have not taken medicine for these for last 4 years and i am fully ok now and i have no problem now so my question are
    1. i need to disclose these for term policy ?
    2 . If i dont dislose these how the company will come to know my personal medical history
    IF I discolse these things can company reject my application ?
    or increase my premium and if so then how much ?
    4 . if my health is ok now then how the company will come to know my medical history

    waiting for reply

    1. Dilpreet Singh Bagga says:

      Dear Pankaj, I would like to answer your query.

      Your previous medical history has a direct effect on your life insurance policy. The life insurance policy works on principle of utmost good faith and will rely on details provided by you. Though, one has to undergo medical tests before taking a life insurance policy but they don’t do endoscopy so question of knowing your ulcer will not arise. My answers to your queries are as follow:

      1. Yes, you have to disclose.
      2. Immediately company may or might not come across your medical history but if at the time of eventuality the insurer comes to know this, claim CAN BE REJECTED on the basis of NON-DISCLOSURE OF FACTS.
      3. The insurer has a right to ask for loading (extra premium) or might reject the application. The loading is totally an underwriting call and may differ from company to company.
      4. Only at the time of eventuality, this will pose problem.


  431. PANKAJ says:

    manish ,
    I am 34 years old and i want term plan 0f 50 lacs for 25 years .
    four and half years ago i have some problem in my head and stomach
    for this reasom the doctor advice me to go for CT SCAN and ENDOSCOPY
    but report for CTSCAN did not any thing serious ANd in ENDOSCOPY report reveald MILD ULSER , i took medicine and now i am OK and I have not taken medicine for these for last 4 years and i am fully ok now and i have no problem now so my question are
    1. i need to disclose these for term policy ?
    2 . If i dont dislose these how the company will come to know my personal medical history
    IF I discolse these things can company reject my application ?
    or increase my premium and if so then how much ?
    4 . if my health is ok now then how the company will come to know my medical history

    waiting for repl

  432. Mhamirma says:

    Hi Manish,
    Excellent and very useful article. I did not get a chance to go thru all 800+ comments so asking you the question directly:

    Question: How important are riders in a term insurance? If one has health policy, are riders still needed? I wanted to go for LIC Amulya Jeevan but the lack of riders are holding me back.

    Expert comments welcome.

    1. Mhamirma

      Riders has to be taken provided you feel the need of it, each rider has a different benefit and it purely depends on you that you want it or not , understand the riders and then go for it


  433. Dhawal Sharma says:


    Take a look at the newest entered in the ONLINE TERM PLAN field


    Dhawal Sharma

    1. Dhawal

      Thanks for the Update .. looks like soon all the companies will come up with their term plans ..


  434. Vishal says:

    Hi Manish

    Request your advice I am intending to take Term Insurance plan for Rs 80 Lacs for a tenor of 20 years (current age 38 years)
    I have zeroed the following :-
    1. ICICI Pru I care No Medical test new launch
    2. Aviva i Life
    Please suggest opting for Term Insurance without Medical test is beneficial I will disclose all material facts
    In terms of of premium there is Rs 6 000 difference p.a premium.
    Also wants to take online LIC at the time launch for Rs 20 Lacs


    1. Vishal

      You can go with AVIVA or HDFC LIfe

  435. Vimal Ostwal says:

    i am looking for term plan of 50L .
    which co is best for me
    my age is currently 25 years.

    1. Dilpreet Singh Bagga says:

      Dear Vimal,

      you can go through the link provided


      Kindly also go through the claim settlement ratio also and take an informed decision.



  436. heman artist says:

    Dear manish,
    Your article of comparision between different insurance companies for term plan is really awesome,i have couple of things to ask you.

    First of all let me brief you with my family history so that it will be easy for you to answer.My name is Heman and my age is 33 my father died in the year 1986 when his age was 36 because of heart attack. just a few month back i.e in the month of may-11 i was just accompanying one of my friend with his family cardiologiest and i just for the sake if it did my E.C.G. done there and which was normal as per him but then too he asked me to gofor a full blood test like LIPID,SUGAR and all get it done so i did it and i found out that my cholostrole was very high so finally after all sorts of other test like STRESS TEST AND AND ANGIOGRAPHY my cardiologiest found that i have five blockages in my five different arteries and suggested me to gothrough the by-pass surgery with a very good doctor(DR.BHATTACHARYA) with a special type of (INTERNAL MAMMORY VEINS) method and i did the same and they operated me on 27 th june 2011 and i am very much fine now and as per my doctor now they say the kind of by-pass method which they had used i will be fine for another atleast40 years and.

    After the surgery my search begun for term insurance and i found out lot of options but my basic question to you is that will i be able to get a term plan for any of the company if i provide them all the true information and will not hide a single thing as i am married and got a kid of 4 year old ,i don’t drink and i don’t smoke.

    My doctors said that in your case it was pure genetic and you can’t do much about it but after my surgery they say if you take care of your diet,medicines and excerise regularly then you can leave as a normal indian male life epectancy ration up to 85 years and which i do religiousely.

    So my question to you is do i fit the crieteria i mean will i be able to get a term insurance with additional loading in premium?


    1. Heman

      Good to know that you took care of your medical issue (Dr bhattacharya also opered by father in law 1 yr back and yea , he is really good one) 🙂

      So coming to your question, sadly you will face issues in taking the term plan , All things said by doctor like “You will be fine” , “You will live just like a normal person and live till 85” is all fine and might be 100% true . But from business point of view for a insurance company , you are a dangerous customer . so there are good chances that some companies might deny you a term plan , and some companies might load your premiums with a big amount ,but even with loading your premiums should be maximum 100% more , which will still be under 20k per year for a cover like 1 crores from companies like Aviva or Kotak ..

      So give it a try atleast . check the premiums at their websites . also let me bring an expert on this from Kotak . He will give you the better and to the point answer .


    2. Dhawal Sharma says:

      @Heman/Manish – Sad to know about your father’s demise, that too at a very young age..

      I think that incidence itself is THE MOST crucial motivator for Heman and everybody on this blog to take up TERM PLAN as first thing of their financial planning wishlist.

      Now coming to Heman’s case, the specific query..Yes, you do fit the criteria to take up TERM PLAN from any company, be it from our KOTAK or AVIVA or LIC or any company of your choice..

      ..But the two hurdles you will encounter are:
      1) FAMILY HISTORY: You have to declare that your father died an UNNATURAL DEATH, due to HEART ATTACK and that too at a very young age of 36. This will tinker bells at the insurance company’s underwriter’s desk. Unnatural death of any of the parent is a serious concern, more so if its due to some CHRONIC ILLNESS in nature – like in your case – HEART DISEASE.

      2) YOUR OWN MEDICAL HISTORY: As and when you declare that you yourself underwent SURGICAL PROCEDURE for ARTERIAL BLOCKAGE this year, and the details of your surgery to the company, those tinker bells at the underwriter’s desk will start sounding as HUGE GONGs..

      Let me share you an example of one my client just last week itself. That case was, more or less the same..So the first thing our KOTAK did was to flatly refuse him CIB (Critical Illness Benefit) rider..Secondly, company issued him a CONSENT LETTER for LOADING upto 75% of his proposed premium..

      I believe you too will face the same thing (i might prove wrong too)..But as a responsible husband and father, you should go ahead with your plan of taking TERM INSURANCE. My only request would be, no matter whatever your own medical history or family history is, dont hide anything in the proposal form and let the ball in insurance company’s court first, and then go with the flow..

      Hope this information might of some help..

      Dhawal Sharma

  437. Santosh says:

    hi ,

    Can anyone one suggest about taking term insurance with return premium policy.


    1. Santosh

      There are policies like that , just search on net , you will get it . But they are not recommended

    2. Ashraf says:

      You can try out ING TERM LIFE PLUS but I would never recommend it for anyone.

  438. Nishant Shah says:

    Dear Mr. Manish,
    Thank you very much for the information provided above. I m bit confused to choose kotak or LIC, want to opt for 50 Lacs term insurance, kindly suggest so as to clear the confusion. Regards, Nishant

    1. Nishant

      What is the confusion but ? LIC and Kotak , you can go with anyone of them depending on how much you trust them , if you are ok with Kotak as a company , then its fine ,.


  439. Siddharth says:


    Basis the above comments, I was trying buy Kotak E–preferred term plan on Kotak website. I reside in Gurgaon. The website mentions that Einsurance is not available in Gurgaon. Can anyone confirm this?

    1. Siddharth

      you can look at the list of cities on their website for that plan , may be gurgaon is not included, Delhi might be there 🙂


  440. Ashraf says:

    Thank you for a neat summary. I surely could learn a great deal from this post. I had made post on my blog as summary for term insurance, http://www.just-paisa.com/2011/10/term-insurnace-summary.html. I would look to seniors such as yourself to help me with enhancing my blog by your constructive comments.

    I look forward to hearing from you


    1. Ashraf

      You have very nicely put up term insurance and its summary , for a common man , it would be the best way to tell him about it .


      1. Ashraf says:


        Thank you for your appreciation. Since I am an LIC agent myself, I kinda have been practicing saying things in simplest way possible. Glad you liked the post.


  441. sheva says:


    I’m 31 years old, and am looking for a term insurance policy (pure life cover, with accident n disability riders only). any thoughts on some good options available – in terms of the vendors’ claim settlement track record, competitive premium rates and customer service?


    1. Sheva

      In all parameters its not an easy task to find an option , but AVIVA and Kotak will come close . Enquire from them


  442. Manisha says:


    I have applied for an LIC endowment policy 15 months back. In the application form I filled up only the nominee name, DOB, and the communication address, rest of the details are been filled up by the agent only while I was away for some mins to prepare the photocopies of the document. And when I return the agent asked my height and weight only and filled the form and then he asked me to sign on the policy document. Then I signed it without reading the application as I thought that the rest of the things could be no important to verify. This is a very stupid of me.

    Now I am just afraid of the policy about whether there can be any wrong information been filled up in the form, or something else that could be a valid point for the rejection later if there is any unpleasant event.

    So could you please tell whether is it possible now to review the application form from the branch office. Or it is better to ignore this policy forever by stop paying for this policy and go for a new policy again.

    Please tell me how to handle this situation.


    1. sunil Date says:

      @ Manisha 1 When you have signed the form it means that u r responsible for all the information filled up in it.
      2 It is IRDA rule that the copy of the application should be provided to the client along with the policy document. I don’t know whether LIC has been exempted from this rule; perhaps one of the LIC agents monitoring this site / thread could answer.
      3 I suggest you ask your agent to provide the copy and if he does not respond, then go to the branch where the policy is logged and meet a responsible person in the operations department and explain your need to get a copy or atleatst allow you to see it.
      4 If there is any incorrect info, discuss it with the officer concerned and submit a letter to LIC (with an acknowledgement for you).
      5 As per IRDA rule section 45, a policy which has been in force for two years, cannot be disputed for minor inaccuracies.
      6 Please remember to fill up all forms yourself, or read it before signing and at all times insist on a copy for your records. This is a good administrative practice and is necessary in the current times, when the likely hood of disputes are increasing.
      7 The issue of suitability of a short term endowment plan, being a part of your insurance portfolio, is not addressed here and is better consulted with a qualified planner in your city.
      All the best.

      1. Manisha says:

        Thanks Sunil for your valuable response.

        Hope some agent will confirm about the IRDA rule.

        This week I will try to go to branch.

        But I have one concern here that as I transferred this policy from one branch to another branch due to my transfer. So where can I able to find the policy document, whether it is at the old branch (where agent applied) or at the new branch. My policy is already transferred one month back.

        1. sunil Date says:

          @manisha LIC has done a lot of computerisation but you will need a bit of persistence. Coming down to basic human behavior, the Old Agent / old Sales manager / Old Branch has benefited from the salke of your policy; therefore the new branch may not be too keen to assist you; so the persistence. If you do not get assistance from the new branch, write a (registered) letter to the old branch and ask them for a copy of your application; you will get the address from the LIC branch near you or on the LIC web-site.

  443. Rohit says:

    My question if around smoking. I used to smoke 5 yrs back. Do I need to declare that while purchasing term insurnace plan ? Can a medical test reveal that I used to smoke 5 yrs back ?



    1. Rohit

      yes , it can reveal that and you should be mentioning that , what if that smoking which you did before 5 yrs is still inside you and creating a CANCER inside you, which you will come to know after 2 yrs ? You never know what is the impact of what you did before some years .. so from company point of view its important for them to know your past history


      1. Ravi says:


        I have an offline term policy of MetLife for 70L SA (I was underinsured at this figure) at a premium of ~25k per annum for the past 3 year. Now I am planning to move to online Aviva iLife for 2.25Cr SA which will also cost around ~25k per annum keeping my capital outflow on insurance premium almost same. My father aged around 67 is suffering from mild BP and Cholestrol issue. From your experience can you please let me know how much (approx, I know you cant give exact) my Aviva iLife premium will be loaded because of my father health issue.

        Your early respone will help me in closing this insurance policy soon.

        And special thanks to Manish & Dhawal in keeping this site alive. Good show guys!


        1. Ravi

          Why do you want to take all insurance from same company , I would recommend splitting it between AVIVA and KOTAK . Take 1.25 and 1 from these companies ,. Also the loading figure is best known to these companies , but you can expect it in range of 20%-40% ,.


        2. Dhawal Sharma says:

          @Ravi – Thanks a lot for your kind words..Major credit goes to Manish…

          As for your query, let me add that there is a great misconception that HUGE LOADING can be levid because of family history. Family history is a tool for the company to judge your “LIKELY” medical health in the future, whereas premium will be based on your “CURRENT” medical and physical being. Hardly 1% of my clients has been charged LOADING because of FAMILY HISTORY. According to my understanding, you have 0.1% chance of facing LOADING in your case, if your MEDICALs comes out to be totally normal and fine..

          Next thing i would like to ask is, are you planning to buy this 2.25 crore cover IN ADDITION to the existing term plan from METLIFE?? You might face strict FINANCIAL UNDERWRITING (all the current and past financial years ITRs, FORM 16, bank statements, and financial undertakings as to your assets and liabilities etc.).

          Further, if you add this latest policy to your existing one, my advice would be to discontinue the offline version after 1 to 2 years of your latest policy. In that way, you will able to plug enough outflow..

          Ideally i dont suggest ONLINE VERSION to my clients but if suits you, please go ahead, without any fear of LOADING or something. You have very minimum chances of such happening.

          Ps: The only scenario i can foresee for your LOADING is because ONLINE premium as such is very low, company might not let go of any chance, due to any reason (Be it family history in your case), to jack up the premium

          Dhawal Sharma

          1. Dhawal

            Even i have that misconception , thanks to you , now its resolved


  444. PANKAJ says:

    manish ,
    I am 34 years old and i want term plan 0f 50 lacs for 25 years .
    four and half years ago i have some problem in my head and stomach
    for this reasom the doctor advice me to go for CT SCAN and ENDOSCOPY
    but report for CTSCAN did not any thing serious ANd in ENDOSCOPY report reveald MILD ULSER , i took medicine and now i am OK and I have not taken medicine for these for last 4 years and i am fully ok now and i have no problem now so my question are
    1. i need to disclose these for term policy ?
    2 . If i dont dislose these how the company will come to know my personal medical history
    IF I discolse these things can company reject my application ?
    or increase my premium and if so then how much ?
    4 . if my health is ok now then how the company will come to know my medical history

    waiting for reply

    1. Dilpreet Singh Bagga says:

      Dear Pankaj, infact for any policy you have not share your medical history with the company since it has direct effect. Moreover, the companies do take due care for term plan since risk is quite high.

      1. Yes, you have to disclose.
      2. Immediately company may or might not come across your medical history but if at the time of eventuality the insurer comes to know this, claim CAN BE REJECTED on the basis of NON-DISCLOSURE OF FACTS.
      3. The insurer has a right to ask for loading (extra premium) or might reject the application.
      4. As per point no. 2.



    2. sunil Date says:

      @Pankaj : in additio to what Mr Dilpreet Singh Bagga has mentioned.
      1 in the eventuality of a early claim companies do their own investigation.
      2 Do you want a safety net which has holes in it and has weak strings ?
      3 By suppressing facts you will not be fooling the insurance co, you will be fooling your family.

      1. Dilpreet Singh Bagga says:

        Mr. Sunil Date: Moreover, even in the case of claim that too on medical (ulcer) grounds, needless to mention it is not natural death, the company will be doing a thorough investigation before settling claim.

        Totally agreed with you that there is no point having a safety with holes and weak strings which will be of no use in case of eventuality.

  445. PANKAJ says:

    manish ,
    I am 34 years old and i want term plan 0f 50 lacs for 25 years .
    four and half years ago i have some problem in my head and stomach
    for this reasom the doctor advice me to go for CT SCAN and ENDOSCOPY
    but report for CTSCAN did not any thing serious ANd in ENDOSCOPY report reveald MILD ULSER , i took medicine and now i am OK and I have not taken medicine for these for last 4 years and i am fully ok now and i have no problem now so my question are
    1. i need to disclose these for term policy ?
    2 . If i dont dislose these how the company will come to know my personal medical history
    IF I discolse these things can company reject my application ?
    or increase my premium and if so then how much ?
    4 . if my health is ok now then how the company will come to know my medical history

    waiting for reply

  446. Ajay says:


    I am planning to buy a term plan. My mother is diabetic so obviously i have to declare her medical condition in the proposal form. However, my son was diagnosed with malignant tumor for which he received treatment (now completed) and is now doing well. Do i also need to declare my son’s medical history?

    1. Sunil Date says:

      @Ajay. Please provide all details as asked for. Generally for one’s insurance, the form would need details of parents and siblings and not children.

      1. Dilpreet Singh Bagga says:

        Dear Ajay, just share, the form do ask information for children whether they are in good health or not apart from parents and siblings.

        Please share the actual facts so that there should not be any problem at the time of claim and let the company take a call at proposal stage only.

        1. sunil Date says:

          @Dilpreet Singh Bagga : R u sure about asking for childrens health history ? which company asks for it ? If the Life insured is child then it is true but for ones own insurance ? Mr Ajay is talking about his own insurance and not of his children.

          1. Dilpreet Singh Bagga says:

            Dear Mr. Sunil, all companies ask for your family history including your parents, spouse, Brother/Sister(s), and children. Are family members alive and state of health. If not, cause of Death.

            Children form part of your family history.



  447. Deepak says:


    Wonderful site. I am quite a knowledgeable person now.

    My question is:

    1. If I smoke rarely, lets say 3 – 4 cigarettes a week; I can see from your answers that, I should declare myself a smoker. If I don’t disclose then in the event of a claim, it may not be honoured.
    But considering such a low frequency of smoking, how will the company know if I ever smoked? In a highly polluted city like Delhi, we are anyways exposed to daily pollution and what not.

    2. Same case as above with for drinking. 3 – 4 pegs (60 ml) a week.

    3. I am inclined towards LIC, Jeevan Amulya, but considering their high premium I may consider ICICI pru, my agent is considering AVIVA. Whats your opinion?

    I am 33 years, Male, SA: 50 Lacs, Annual Income: 12 Lacs.

    Please throw some light.


    1. Deepak says:

      Just to add on; I am not inclined towards online cheap plans because of the obvious fear of hassles.

      1. ram says:

        Go with lic

    2. Deepak

      The frequency you have mentioned will put you in the category of SMOKER AND DRINKER , so dont fight this part .. yes you do it less frequently and thats why your “extra” premium will not be as high as it is for someone who is more regular , but stopping thinking that you will get normal premiums . Even if you start an insurance company tomm,, you will not give a policy at same price to yourself if you take into consideration “business” purely ..

      Choose any option but make sure you declare the facts as it is , you can choose AViva , its a good option , but why is your agent inclined towards it , is it because you need to buy it from him or has he studied the features of AVIVA ? tell him that you are not going to buy from him , then what is his suggestion ..


  448. Pradeep says:

    Hi, I have bought ICICI Pru iCare SA of 50L + Accident Rider of 50L for an annual premium of Rs 12905. And also bought Aviva i Life SA of 50 L for an annual premium of Rs 5853. Both the policies were bought on Saturday 15-Oct-2011. I have uploaded all the relevant documents thru their website link.
    Note: I got call from ICICI CSR on monday i.e 17-Oct-2011 for relevant information verification and the policy is now in force.
    However I am yet to receive a call from Aviva. Lets wait and watch when Aviva CSR will give me a call.

    1. Pradeep

      Give it more time .. you will get a call


      1. Pradeep says:

        Finally I got my policy from Aviva today.

        1. Dilpreet Singh Bagga says:

          Pradeep: congrats..

  449. Ganesh says:


    I dont have term insurance or mediclaim.

    I wish to go in for both of them.

    I require all the following to be covered by either of them
    AR, CI, DR, WP

    I prefer online plan

    Dont mind medical checkup by the insurance company, as I want my records clean and clear.

    Which one or combination is suggested for people like me….

    Please suggest.


    1. Ganesh

      its not that easy to get a plan with all riders .. why do you want all ? Note that you need to pay more for those riders ..

      Go with aviva or kotak


  450. Neeraj says:

    Hi Manish

    I am Neeraj and I am 36 years old. I am earning 11 lakhs per annum. My medical condition is that I am diabetic and I am taking medicine just to control it and my father had gone under bypass surgery at age of 55 and he is also diabetic.

    I applied for Term plan of 50 lakhs from birla sun life last year and I declare them each and every fact, said above and medical test was done on me, but later on, I received a letter from birla sun life that my application was rejected. Why so. No such specific reason was given by them.

    I want term plan for 50 lakhs to 1 crore, please suggest me
    1) which company I should consider and
    2) can a company reject the application, instead of raising the premium. Is it wrong to declare your medical conditions.
    3) Can anybody suggest premium for person with conditions like me for best companies.
    4) Which other rider I should consider.
    5) Do I am eligible for Term Plan?

    1. Neeraj

      1. There are many options .. look at Kotak , Aviva or metlife .. or LIC

      2. NO , they should not , mail them back saying that you are complaining to IRDA on this .

      3. That can happen from company itself

      4. Which ever you feel you want in your life ,how do we decide that ?

      5. Yes, but there will be extra premiums


      1. Praveen says:

        Mr. Neeraj,

        Your best bet is HDFC or Kotak. I am having diabetes for last 10 yrs. I gave declaration about this, for which they loaded heavily, but accepted. Both these are very reputed and established names. No worries !! Just maintain good life style and control sugar religiously.

        1. Praveen

          Thanks for mentioning that 🙂

  451. Kabya Bhattacharyya says:

    Hi, this is my first comment in this forum. I checked with the ICICI Prudential relationship manager and he advised me to go in for offline term insurance as online term insurance does not require medical checkup and in the event of any unfortunate incident if we claim the insurance amount then insurance company can reject the claim on grounds of medical reason. How true is this.


    1. Kabya

      please dont mention this relationship manager name publicly , else he will loose his job .. He is not clear on how the claim settlement works and what is underwriting norms and procedures .


    2. sunil Date says:

      In a online term policy, the local sales office , the Sales manager, the agent etc do not get any commission or credit, so they will obviously discourage you.

      If the Life insured has given all correct / true answers to the data sought in the on-line term policy there is no reason on earth why the insurance company should reject the claim. Pl note “….all correct / true answers….”

      Even in off-line policies not all individuals have to under go medical test. Most of the companies have a age / Sum assured grid based on which medical tests are prescribed. Also based on the data provided in the proposal the under writers may ask for spl medical test.

  452. Sweraj says:

    Dear Manish,

    Im 30 & ready to save 30k per month. I want to save in terms of 3 categories..viz.Insurance, Investment & short term saving which can get be flowing cash from time to time. What are the best options you can suggest?

    1. Sweraj

      You should first look at a term plan and then building an emergency funds .. which will be complete in next 6 months itself, there after look at investing from long term through mutual funds


  453. Perfect article! It’s very good to understand the details of the term insurance. Thanks for this great article.

    1. Sandeep

      Good to see that you benefitted from this article. Keep it up

  454. Bhaskar says:

    Hi Manish,

    ICICI launched new online insurance product ‘ICARE’ replacing ‘IPROTECT’. The premium has increased and Max SA has been brought down to 1.5 Crore. Do you have inferences ? Please advise. Agent says no change in T&C, only premium increased slightly…awaiting your response… Thanks as always !!

  455. Abdul says:


    I want to take a 50L term insurance policy for my mother and i am considering premium return at the end of the policy tenure.Her age is 59 so which policy would be better ? can i get IT deductions for these paid premiums for my mother.


  456. Sanjay says:


    I’m 21 years old and i’m planning to buy a Lic Insurance Policy for myself.

    I read an article on Online Insurance policies yesterday and i got interested. Can you suggest whether online policies are safer and also please advice on the best policies which i can choose from. (I’m looking for a big cover amount and return after sometime()

    Thank you

    1. Sanjay

      Term plans dont give any returns and thats the reason they have cheaper premiums because they only provide risk cover , thats all


  457. Davinder says:

    Hi Manish,

    I saw some of your comments above, thanks for providing such a good information about insurance.
    I am new to insurance thing, i have a question about term plans. let’s say if i bought 2 policies 50 lakh each. At the time to settlement, will my representative get only 50 lakh paid by both companies mutually, or do they get 1 carore?

    1. Dilpreet Singh Bagga says:

      Dear Davinder, in case of eventuality, your nominee will get 100 Lacs from both the companies.



      1. Dilpreet Singh Bagga says:

        Don’t take my reply otherwise, i meant 50 lac each from both the companies… in total 100 Lacs

  458. Siba says:

    Can you update it with the new plans in place (e.g. IndiaFirst anytime plan)? It’s very useful article so constant updation or as products launch will be really appreciated.


  459. shah jolly says:

    i want to one term plan but i donot know how much primum pay and how much year nothing know about policy

    i want to take jeevan anand but wwhich is better between two. ple. sugges me and send me chart

    1. Shah

      You should call an agent and enquire


    2. Dilpreet Singh Bagga says:

      Dear Shah, they are two different policies. I would suggest you have to understand the products separately and then take an informed decision.



  460. Nagesh says:

    Hi Manish,

    I’m planning to buy Kotak preferred term plan (offline) for 50L, premium is 7335 for 30 years and i can extend this policy till the age 70, is it good to buy? whats your suggestion?


    1. Nagesh

      Yes its a good choice .. make sure you give all the information correctly


      1. Nagesh says:


        one more qq from me..I have found HDFC life is also doing good in the market and bit cheaper then Kotak…HDFC is a good choice than kotak?


        1. Nag

          You can never comment like this that company A is better than company B .. All you can do is choose based on your faith

    2. Dilpreet Singh Bagga says:

      Dear Nagesh, just a word of caution, along with basic cover if you are planning to buy riders as well, kindly go through the riders properly before buying.



  461. sravi says:

    Hi Manish..
    I am glad to say that my husband has taken icici iprotect last week.The process went very smooth. For me, i wanted the same but now the plan was changed by icici and the premium also increased in new icici icare. So, as another option i am looking for AVIVA iLIfe. I am looking for 50L cover. Below are the premium rates.

    AVIVA i life–3800 rs
    Kotak E preferred–4600 rs
    ICICI icare–6600 rs

    Can you please give your inputs on this new cheapest term plan from AVIVA.
    Can you also suggest me which is best among AVIVA/KOTAK . Thanks.

    1. Sravi

      You can go for Aviva and Kotak for 50% : 50%


  462. Kapil says:

    Hi Experts,

    I am trying to opt between Two insurance terms plans –
    Kotak e-term / e-preferred term
    Aviva i-Life

    Both looks good to me, but now trying to list down the merits and demerits between the two.

    Aviva i-Life: doesn’t require any medicals upto age of 35 and 50 Lakh term insurance.

    So is it advisable to go without medical examination?
    How can a company issue a policy without medicals and just based on your declarations? Its tough to digest.

    Kotak e-term: Requires medical examination
    Kotak e-preferred term: Doesn’t require medical, but you need to pay additional money (step up options)

    Both companies says, they cover 360 degree death, apart from suicide with in one year of policy.

    Death by any means, would get covered. Absolutely no exceptions to it.

    Any one has any personal experience or opinion on this evaluation?


    1. Kapil

      No medical below 50 lacs or 35 yrs is ok . They rely on your declarations . If you do not make any wrong declarations, then there is no issue . Aviva is a good option .


      1. Kapil says:


        Aviva i-Life term plan, covers the 360 degree of death (I got to know this from product specialist from Aviva) except the suicide commit with in one yr of taking policy.

        I also checked the offline option from Aviva, the Branch head told me “if you are involved in any of the illegal activities and death occurs”, then this type of death is not covered.

        So My doubt is on the discrepency between offline and online term plan.

        According to me “illegal” is a very broad term.

        Driving while consuming alcohol is also illegal
        6 people Travelling in a tourist taxi with 4+1 limit, is also illegal
        Jumping traffic signal is also illegal.

        So if death occurs, in the course of above illegal activities, then Aviva might reject the claim.

        Please help me to clarify on my doubts.


        1. Kapil

          definately .. being responsible is important in Insurance .. you cant do something which was morally or lawfully incorrect and then expect insurance companies to pay .. The death shoulds happen in normal circumstances without you being involved into it unmorally or unethically ..


  463. Aamay says:

    Manish have you reviewed Aviva i-Life ?

    1. Aamay

      Aviva is one of the best choices at the moment .. you can go for it


  464. Reddy says:


    One of my uncle who is working in Shriram life insurance suggesting me to take Shriram Money Back Term Plan saying that its the best term insurance policy where the premium paid will be returned back after the maturity incase of the policy holder survives.

    But unfortunatley i could not get much info about this policy in shiram website or in any of the forums

    Can any one please throw some light on this policy terms and conditions

    Babul Reddy

    1. Reddy

      Just ignore themm … buy MF


  465. D.inesh says:

    Hi Manish,

    I recently bought MetProtect online after doing some research on the avaialble online term plans.
    I realized that Aviva also has a similar offering called iLife which is cheaper than MetProtect. What do u think? Between the 2, which would be better (I have 2 weeks to send MetProtect back) in terms of features etc. All else being equal, my perception is that Metlife comes out better than Aviva.
    I had an opportunity to meet some Aviva agents and was quite dissatisfied with their knowledge ( u shud at least know what u are selling in some depth !). Hence the choice of Metlife.

  466. Dilpreet Singh Bagga says:

    Dear Manish, here i will agree with Dhawal, income levels are important to ascertain the cover which one can take. Financial questionnaire helps an insurance company understand the customer much better by knowing the overall financial well being. Moreover, apart from financial questionnaire, an agent report/SM or BDM report is also submitted to avoid adverse selection.

    Nambiar, assets and liability information is important from insurer’s point of view since this also forms a basis of their decision about the level of cover to be provided to an individuals.

  467. Dilpreet Singh Bagga says:

    Just to add to Dhawal, term plan specifically with 20 Lacs plus cover, the insurer would like to have a clear view on financial capability of an individual as well, hence, financial questionnaire is required. This is nothing but keep a tab on human life value and if the individual is worthy of taking huge cover.

    Apart from financial questionnaire and medical addendum, there is another report called agent report/SM or BDM report which is required to be submitted along with higher sum assured to ensure that insurer is not doing any adverse selection.



  468. Ganapathy says:

    From Ganapathy
    To Dhawal/Manish/Sunil

    Many many thanks for having spared your invaluable time, taken so much of pains and answering my queries. Your reply is also as much long as was my queries, so I ‘ll need more time to read, understand and reconcile with the crux of the various issues that have been dealt with. I’ll get back to you in due course if I have any more queries on the subject.

    Thanks once again, and Good Day to all!!!

  469. Pankaj says:


    I am 37 years old and taking medicines for mild anxiety and hypertension. My BP is under control and have no health related problems are taking medicines.

    As per your suggestion, i didn’t hide any of my health status and because of that all companies (I applied for ICICI, Kotak) are declining my policy.

    Can you suggest what I can do now as I am married and want to go for a term plan to support my family.



    1. Pankaj

      You dont have to regret on declaring your ailment , if you had not declared that , it could become the basic for rejection later and you would not be there to even regret . Apply in more companies


  470. Ganapathy says:


    You have in your Dec-23-2010 blog, recommended Kotak as a good option. My queries are, therefore, directly focused on Kotak Term Plan and your clarifications on these will be of great value to all:-

    1. Kotak Term Benefit (KTB)/ Kotak Preferred Term Benefit (KPTB) is the first Rider listed out in their RIDERS Brochure –

    It reads as:

    “in the event of death of the Life Insured during the term of this benefit, the beneficiary would receive an additional death benefit amount, which is over and above the Basic Sum Assured. The maximum amount of benefit that is available is equal to the Basic Sum Assured”.

    I have not been able to locate this Rider under their main KOTAK TERM PLAN Brochure – could you please explain what this Rider is all about? And where are the premium calculations shown in their website?


    “If the Life Insured becomes totally and permanently disabled due to an accident and the policyholder proves the same to the satisfaction of the Company, Kotak Permanent Disability Benefit Sum Assured will be paid as five annual installments of 12% of the Sum Assured, starting on the date that disability is admitted by the Company, followed by a final payment at the end of the fifth year of 60% of the Sum Assured. The life insured should survive for at least 120 days from the date of the accident. The policyholder should write to the Company giving the details of Permanent and Total disability in the required format, within 150 days after the happening of the disability. Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of any two limbs or total and permanent loss of sight or injuries that permanently preclude following an appropriate occupation from the date of accident onwards. The maximum cover available under this benefit is equal to the Basic Sum Assured (subject to a maximum of Rs 10 lakhs)”.

    My queries against this RIDER are:

    (a) The first condition is, the insured should survive for a minimum period of 4 months to become eligible to make a claim; the second condition is that he can raise his claim only between the 4th and 5th month of his post-accident survival; the 3rd condition is that the disability has to be got admitted by KLI; the 4th condition is that the PDB benefits will be paid only as installments stretching over a period of 5+ years. If the disability condition of the insured has been established beyond any element of doubt, admitted and accepted by the Insurer, why disbursement of the benefits be stretched over to 5+ years? Are the other Ins Cos also following a similar pattern of time schedule for disbursement of the PDB?

    It is further stated in the KLI Rider that the PDB will be paid as 5 annual installments of 12% followed by 60% at the end of the 5th year – there is no clarity in this kind of a statement to show how much is getting paid when; does this infer that 5 x 12% = 60% plus another 60% at the end of the 5th year, totaling 120% of the RSA is getting paid? can we have an illustration of a sample case please?

    (b) The next question that comes to my mind is that ‘what happens if the disability has been admitted and the 1st installment paid, but the insured subsequently passes away before being there alive to receive the remaining installments? Will KLI pay all the remaining installments towards the PDB forthwith along with the 100% BSA to his nominee? OR is it that the PDB benefit is designed and designated exclusively for the insured and since he is now longer alive, the Ins Co stands fully absolved of its obligations to pay the full benefit of the SA against this Rider and that his family in turn has no right of claim on it? Is the same kind of modus operandi being adopted by other Ins Cos also?

    (c) Is the insured eligible to get any Disability Benefit paid against PERMANENT PARTIAL DISABILITY (PPDB) also? If so, what is the rule that is uniformly applied here by the Ins Cos to determine the eligibility criteria for the PPDB ‘vs’ the quantum of PPDB payable? In the same way, what norms will be applied by the Ins Cos to prove that a permanently partially disabled insured is capable of or incapable of pursuing the same profession/occupation he was earlier engaged in and hence he is now eligible or ineligible for the PPDB?

    3. CRITICAL ILLNESS BENEFIT Rides reads as:

    “This benefit can be added to the basic life insurance plan to provide financial support in the event of medical emergencies. On the first occurrence of critical illness during the term of the plan, you would receive a portion of the Sum Assured to help you reduce your financial burden in this emergency”.

    This kind of a statement is very vague – it only serves to keep the insured in dark and does not answer pertinent questions like: why only a portion is paid, why not the full CIB SA? If only a portion is paid, what % does it constitute on the total CIB SA? When will this portion (%) be paid and when will the balance portion be paid? And how soon will it be paid? If the insured does not get answers to these questions beforehand, how can he determine the usefulness or otherwise of such kind of a Rider? Can we get a general idea or a comparison as to how other Ins Cos deal with these Riders and dispense the benefits – maybe our fellow bloggers can narrate some of their experience with their respective Insurers and we all can take a cue from them.

    The CIB Rider further reads: “After the Critical Illness Benefit is paid, the Basic Sum Assured and all the benefits dependent on the Basic Sum Assured will reduce in the same proportion that the Critical Illness Benefit bears to the Basic Sum Assured at the time of claim.

    This can be a shocker to many and the complexity of this clause is definitely beyond the comprehension of most of the readers. How can a benefit paid or payable against a particular Rider SA can interfere with the benefits of either the BSA or any other benefits against any other Rider SA when every SA, whether it be the BSA or the SA of any of the Riders, is independent of itself and commands individual premiums as per the SA chosen by the insured at the time of taking the Policy? Can we have an illustration of a sample case as to what this clause is trying to convey to the reader and what kind of an adverse effect this can have on the benefits of BSA + other Riders getting paid?

    4. Following diseases have been covered under the CIB:-

    • Heart Attack (MI)
    • Cancer
    • Stroke
    • Coronary artery by-pass graft surgery (CABG)
    • Kidney failure
    • Major organ transplants
    • Paralysis
    • Loss of limbs
    • Aorta surgery
    • Major burns
    • Heart valve surgery
    • Blindness

    Quite a few of the above Critical Illnesses – like Paralysis, Loss of Limbs, Major Burns, Blindness, etc. – can eventually render an insured PERMANENTLY TOTALLY DISABLED negating all possibilities of his being able to pursue any kind of occupation / profession. Will the insured, in such a situation, now regarded as permanently totally disabled, stand to get paid against both the Rider SA benefits of 100% CIB as well as 100% PDB?

    5. Whether the KLI Term Plan Policy Bonds are explicit that they will pay the BSA and other benefits against the different Rider SAs in respect of claims arising out of DEATH or PERMANENT TOTAL or PARTIAL DISABILITY or CRITICAL ILLNESS directly or indirectly caused as a result of ‘terrorism/terrorist acts, bomb blasts, acid explosion, riots, stampede, civil war, civil unrest, police-brutality, road-rage, robbery, kidnap, molestation, rape, shoot-outs, extortion, knifery, murder, acid-throw, all types of accidents and mishaps due to negligence & failure on the part of the Govt machinery/mechanism, natural calamities like outbreak of epidemics, storm, lightning, thunder, rain, floods, drowning, cyclone, tsunami, earth-quake, volcano, fire, electric- shocks, gas leakage, building collapse, tree-uproots, etc., etc.’ What are the exclusions that have been listed out in their policy bond?

    Thank you


    1. Ganapathy

      I have mailed Dhawal to reply to this .. he is on the way !


      1. Dhawal Sharma says:


        phoofffff..Quite an inquiry this!! I am sure if a real-life client would have asked me so many questions, i would have taken ages to answer all his questions..and then finally close the deal 😉

        Ok, lets start with the serious stuff..
        The first line you read in the broucher is basically HEADLINE, that is, it says this broucher is showing you the benefits of RIDERS covered under TERM PLAN and PREFERRED TERM PLAN and its explanation that RIDERS mean extra benefit, over and above the BASIC SUM ASSURED..So please take that KTB and KPTB as headlines..

        thank God that you have no doubt or confusion for the first rider, that is Accidental Death Benefit (ADB) rider as its very much self-explanatory..

        Now coming to the crucial part, the Permanent Disability Benefit (PDB) rider..Company has inserted the clause of 120 days of survival so that the policyholder is eligible for PDB rider only and not the DB as well..I mean if the policyholder has met with an accident, rendered permanently disabled (losing both eyes and hands for extreme example) and company pays him the PDB rider in full right there and then and due to the subsequent complications, policyholder dies within 1 to 2 months, then company again will be required to pay the DEATH BENEFIT..Please try and understand this RIDER is offered to help the policyholder and his financial dependents to get some INCOME SUPPORT which they will be needing in case of POLICYHOLDER not being able to earn anymore..as the saying goes “CAPITAL MELTS & SINKS, BUT THE INCOME PERSISTS AND STICKS”, through this RIDER, policyholder and his dependents are ensured of financial resource for day-to-day expenses..another part of this RIDER which you have got wrong is the wording which says “POLICYHOLDER SHOULD WRITE TO THE COMPANY, GIVING THE DETAILS OF PERMANENT AND TOTAL DISABILITY IN THE REQUIRED FORMAT, WITHIN 150 DAYS AFTER THE HAPPENING OF THE DISABILITY.” So its not that he can raise his claim only in the 4 and 5 month. He can start the procedure immediately of informing the company and will get the benefit immediately upon fulfilling the condition of surviving for more than 120 days..

        Yes, with pride i support you understanding that KOTAK will be paying 12% x 5 years = 60% + 60% at the end of 5 year = 120% of the total RIDER BENEFIT. This is one of the best thing that our company has come up with where KOTAK is taking the onus upon itself to give the interest on the amount which is its obligation and its paying in 5 installments..So you can say its the interest which is company is paying to you, because its fulfilling its obligation of paying the amount in 5 installments rather than in one go..

        the point is, these RIDERS are not meant to be END UNTO THEMSELVES..They are just the means, as the name says, the additional benefit, to the family in case the BREADWINNER of the family is no longer earning..If after taking the 12% installments for 2 years, the policyholder dies – yes, the nominee will not be able to get the remaining 3 installments of PDB rider but will only get the BASIC SUM ASSURED..Unjust?? but what if the policyholder dies in the 5th year after taking 120% of the PDB rider?? Would the company be asking for 20% back or deducting from BASIC SUM ASSURED?? No, because understanding of these RIDERS are different..
        Most of the insurance companies are following this pattern because of the underlying principle that these RIDERS are meant for providing steady income flow and not the wholesome financial backing..

        No, partial disability is not included as the first line of this RIDER says “IF THE POLICYHOLDER BECOMES TOTALLY AND PERMANENTLY DISABLED..” So no room for partial disability..

        This CRITICAL ILLNESS BENEFIT rider is a complex issue, i agree..In fact, to ALL of my CLIENTS, and there are substantial for TERM PLAN, i always advice them to exclude this rider. One, because the PREMIUM for this rider is very high plus its very complex to understand.
        But the bright side is that atleast KOTAK is giving everything in BLACK and WHITE..Its not leaving any room for mismanagement that if someone is comfortable with this RIDER, he can go ahead with this or leave it. Nobody can say later that company never told me about this, or such and such thing..

        sheepishly, To first part of your query under CRITICAL ILLNESS RIDER – i want to say that I DONT KNOW 🙁 This thing has never been explained to us in our training sessions or study material which we got from the company. A few of my senior collegues (Senior agents who are with KOTAK for last 7 to 8 years) have raised this query but i dont know what information did they get..Let me persue it for you and let you know real soon..

        Now coming to the second part of your query, it would be a tricky explanation. Under this scenario, neither the POLICYHOLDER has died nor is he rendered UNABLE TO EARN due to any disease..So the company here is making payment to help out with his MEDICAL EXPENSES with major chances of the policyholder now being in more risk pool than he earlier was, that is when he was hale and hearty. That is why company is trying to reduced the BASIC SUM ASSURED in the same proportion to CIB rider..

        As to your next query as to the CRITICAL ILLNESS leading to PERMANENT DISABILITY and then eligibility of the policyholder, please read the first line of the PDB RIDER on page 2 of the PDF file which says “IF THE LIE INSURED BECOMES TOTALLY AND PERMANENTLY DISABLED DUE TO AN ACCIDENT..” So no room for this 100% + 100% scenario..Moreover, exlcusions pertaining to CIB rider are given on that PDF file on the last page, page 5..

        Regarding the BASIC SUM ASSURED, death due to any reason will be covered, be it TERRORIST ATTACK or whatever..Please check this statement by our then MANAGING DIRECTOR, Mr Gurang Doshi in 2008

        Exclusion as to death not covered under RIDERS is give on that PDF on page 5. Hope we are sharing the same PDF for EXCLUSIONS. Will mail that to MANISH and he can share the same with you personally over the mail..

        Hope to have satisfied your queries to great extent. Will get back to you once i will have more light on the subjects not answered in this thread..

        Now lastly i want to add 2 points from myside:
        1. Due to all those doubts and queries you have raised, we always advise our clients to go for one EXPERIENCED and PROFESSIONAL INSURANCE ADVISOR who should be able to answer all your doubts or queries..All such things are not possible in ONLINE MODE..You might have ended up buying a CHEAP ONLINE TERM PLAN with no explanation given to your queries (i highly doubt anybody from the CUSTOMER SERVICE or CONCERNED COMPANY’s CALL CENTER would have been able to recognize such things exist, let alone answer them)..
        2. For these reasons only, your FINANCIAL ADVISOR would be able to help out the nominee in case of unfortunate death of the POLICYHOLDER. As you have raised so many queries and might have got most of the answers, but your spouse will never know these complexities..

        Dhawal Sharma

        1. sunil Date says:

          @Ganapathy/Dhawal – Accidental disability benefit. It is always better to take this as standalone policy from a general insurance co. The definition of permanent disability seems to be fairly clear in case of KOTAK viz ” Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of any two limbs or total and permanent loss of sight or injuries that permanently preclude following an appropriate occupation from the date of accident onwards. ” In case of Max New York and most other life co’s it boils down to “Not being able to earn any living” (mind you ” not appropriate occupation”) which means a engineer being able to run even a disabled phone booth will not be considered as not being able to earn any living i.e practically person has to be nailed to the bed.

          A stand alone policy from a general insurance would cover even partial ( say only toes or little finger to spinal cord) and temporary disability ( weekly benefit upto 100 weeks). viz Cholamandalam CAP. It has other covers too like broken bones, modification of residence / vehicle, family transportation, transporting mortal remains etc.

          1. Atul Gosain says:

            Thats a good advice. So, if taking Critical Illness not recommended as Dhawal said and Permanent Disability should be taken as a separate product, then it seems like taking just a death benefit without any riders is prudent. Then the parameter to choose may just be cost and claim ratio. That means Kotak e-preferred is fine to go with since claim ratio is good and cost is down. Is it a fair assessment ?

            1. Atul

              Yea .. i think thats a good judgement


  471. Abhishek says:

    ICICI i PROTECT IS BETTER then Aviva as It offers Accidental Rider a s well.

    1. Abhishek

      But that comes at a cost !

  472. Abhishek says:

    Aviva life online term insurance is one of best and econmic to buy for smoker-
    for 36 yr age- 1 cr amount- prem is rs 19257.

  473. Abhishek says:

    KOTAK may be good ( E Preffered ) for NON SMOKER AND WOMENS.

  474. Abhishek says:

    Most imp ,Its better if you remove the Chart given in this blog as claim ratio.
    Because- everyone may not read all discussions or may nt be able to understand as well. you have also accepted lot of times in discussions , in terms of not reading a report rightly and there are lot of other factors of high claim payout of diff insurance co. It does not talk about only term plan comparisions and title of discussion is term plans. let there be featur comparisions, premium comparisons.
    let discussions be there too, but Request to Remove this Chart as its not useful and not the very great tool to take a decision. Its better if you post a articale on , preacutions while to take term plan or Insurance.