Which Term Insurance is best..im 25 year old

POSTED BY Rizwan Rakhangi ON February 11, 2013 11:27 am COMMENTS (8)

Following are my requirements 
* Need Covrage of 75 Lakh
* Upto age of 55 Years
* Should Cover all types of death (Accident, Natural, Heart attack etc)
*Is terror attack death is covered in term policy?
* I used to smoke cigrate and i quite 2 month ago so it it important i should mention as smoker if im not going to smoke further
* Claim procedure should be simple & Higest Claim ration
* My choices are Aerogon Rel, Met life, HDFC, AVIVA, ICICI, Ing Vyas, Kotak. which will be the best 

8 replies on this article “Which Term Insurance is best..im 25 year old”

  1. Dear Rizwan,

    Before buying an insurance policy, it is always important to find out the amount of life insurance cover you need. The following factors should be considered before buying a life insurance policy:

    1) Your age and number of dependents
    2) Your annual income and annual expenses
    3) Your outstanding liabilities like home loan, car loan, etc.
    4) Your investments / savings
    5) Your lifestyle expenses
    6) Monies you would require in future

    As a thumb rule, it is suggested that you should have an insurance cover of around 5 to 10 times of your annual income. To calculate your Human Life Value visit https://onlinelifeinsurance.iciciprulife.com/digital/Tools/Calculators/Calculator/Protection-Current-Situation-Calc.htm?execution=e1s1#.

    To learn about the benefits of Term Insurance watch this video http://bit.ly/QuKARO. You may consider ICICI Pru iCare which can easily be purchased online and allows you to get a cover of upto Rs. 1 crore without any medical tests. To know more visit https://onlinelifeinsurance.iciciprulife.com/BuyOnline/ICare.htm?execution=e1s1

    Regarding your point related to claims, we are committed to honor all claims quickly and fairly. In a recently published annual report for FY12 by the industry regulator IRDA, ICICI Prudential has a healthy claims acceptance ratio of 96.5%. You can access the report by clicking http://www.irda.gov.in/ADMINCMS/cms/frmGeneral_NoYearLayout.aspx?page=PageNo1848

    To know more about our claims process pls. visit http://www.iciciprulife.com/public/Others/Claims_section/index.html

    Consumers have chosen ICICI Pru iCare as Product of the Year 2012 in the Life Insurance Category based on survey of over 30,000 people by Nielsen.

    Please understand that we only offer suggestions based on your requirements, however choosing a policy most appropriate for you remains at your discretion.

    Warm Regards,
    Life Insurance Help
    ICICI Prudential Life Insurance

  2. Dear Rizwan, do some research. No problem in that but do not take your life’s time to decide on the right term plan for you. 🙂



  3. Dear Rizwan, the answer lies in the fact that CSR ratio does not differentiate between term plan & other investment oriented plans. It’s a combined figure for all the claims filed with the insurer in all types of policies. Now you are already aware that LIC is having the lions share of small sum assured, investment kind policies.

    Sprite! Clear hai? 🙂



    1. Rizwan Rakhangi says:

      Dear Ashal ….good 1….i’ll do some research

  4. Rizwan Rakhangi says:

    why LIC’s CSR is the highest?

  5. Dear Rizwan, please do not purchase any term plan as of now & read some past discussions in the forum. Before jumping in to the pool, you should have a clarity on the issue. What, Why, how you are purchasing?

    Claim settlement ratio is not a 100% truth. There is more than what meets the eye. Have you ever wondered, why LIC’s CSR is the highest?

    One interesting thing for your smoking – You quit 2 months ago, you start again after 2 months, you quit again after 2 months & this is on & Off thing continuously. What should be the prem. for your life against a normal non smoker life?



    1. Rizwan Rakhangi says:

      you ever wondered, why LIC’s CSR is the highest?

  6. All types of death is covered. Suicide is excluded in first 1/2 years depending on policy.
    Terror attacks usually covered. If not it will be mentioned in wordings
    You should mention you were smoking and quit 2 months ago. Premium is likely to higher.
    All insurers require standard documents for claim procedure. Simple or not depends on manner of death!

    If you search for ‘term insurance’ in this forum you will get 100s of questions, and suggestions to help you decide.

    Bottom line if you are honest in filling up the form you have nothing to worry about

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