Best life insurance plan | Best life insurance policy | in india

Best life insurance plan or best life insurance policy in india in 2011 - 2012 has been chosen from the different good life insurance plans offered by the best life insurance companies in India.

BRIEF REVIEW OF THE TOP 4 BEST LIFE INSURANCE PLANS IN INDIA IN 2012

ICICI Prudential Lifeguard - With return of premium

ICICI Pru Life Guard, is a non-participating term insurance plan. This term insurance plan insures your life and provides total security to your family, at a very affordable cost.

Premium rates of this best life insurance plan:

Typically, for a 44 year old male in India, for a 50 Lakhs insurance plan, for a 20 year period, the yearly premium works out to Rs 1,30,000 only.

This means that if you die during this period of 20 years, your nominee will receive an amount of Rs 50 Lakhs, provided you have paid the insurance premium amount or 1.3Lakhs every year.

If you live beyond this term of 20 years, you will receive Rs 1.3 Lakhs multiplied by 20, ie about 26 Lakhs - the total premium amount paid for 20 years.(no interest / no bonus component).

Consider that you opened a savings / current account which paid you no interest for 20 years and the amount received on survival of the term, is your retirement amount.

The other top life insurance plan in India is

SBI Life Insurance - Smart Shield policy - a traditional, non participating pure term plan (with no return of premium)

The key features of this plan are:

- Establishes a solid foundation for a lifetime of financial security for your family at a low cost

- Rewards you for maintaining a healthy lifestyle

- You can also customize your coverage by choosing from a wide range of additional benefits such as – Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider and Accelerated Critical Illness cover option

3 rd - Best life insurance plan in India

Life Insurance Corporation LIC - Term assurance plan - two year temporary assurance

The Two Year Temporary Assurance policy is designed for the insuring public who requires risk cover for a maximum of two years.
Under the Two Year Temporary Assurance policy a single premium is required to be paid at the outset of the policy to cover the entire period of term.
The proposer is required to pay the medical examination fee. The proof of age must also accompany the proposal.
The policy issued will be only under the 'Without Profits' plan.
The policy is not entitled to any surrender value.

4 th - Best life insurance plan in India

HDFC Life Insurance - Term Assurance plan

Term Assurance plan is designed to help secure your family's financial needs in case of uncertainties.

The plan does this by providing a lump sum to the family of the life assured in case of death or critical illness (if option is chosen) of the life assured during the term of the contract.

One can choose the lump sum that would replace the income lost to one's family in the unfortunate event of one's death. This helps your family to maintain their financial independence, even when you are not around.

The key features of this top life insurance plan are:

High cover at a very nominal cost.
Flexibility to choose the Sum Assured.
Additional benefit options can be availed at marginal costs.
Premium amount remains the same over the term of the policy in case of regular premium
Option of paying single premium or regular premium.
Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961

IMPORTANT: All life insurance policies are issued, subject to medical underwriting (which means you must be in good health ) and financial underwriting as well (which means you must be financially sound) to avail of high insurance plans.

Adequate term insurance ensures that your loved ones are provided for and that their lives are not affected, even if you are not around.

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