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Thread: Term Insurance - Cheap & Best Insurance

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    New Member Satish's Avatar
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    Lightbulb Term Insurance - Cheap & Best Insurance

    Insurance is a tool to safeguard individuals and their families from unfortunate losses that happen in the family. Though there are a hoard of schemes and types of life insurance one can prefer, I would say that the basic and simple Term Insurance is the cheapest and the best form of Insurance coverage an individual can opt for. No other Life Insurance scheme gives you life insurance value for your money.

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    Administrator Ram's Avatar
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    Bajaj Allianz and LIC offer insurance products linked with unit plans. Basically, you need to sign up for unit linked insurance plan, your money will be invested in stock market. On top of it, you will also get insurance coverage. I signed up with bajaj allianz in late 2006, I already have 40% return on the investment.

    I signed up with LIC plan in August 2007, it already returned 17%, thanks to the bull market in India.
    Last edited by Ram; 04-01-08 at 10:25 AM. Reason: Corrected error, changed from UTI to LIC

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    New Member Satish's Avatar
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    Exclamation Unit Linked Insurance

    It is good that the returns have been pretty with the Unit Linked Insurance schemes offered by Insurance companies. But, it is to be accepted that Insurance companies venturing in to stock market places the returns of the insured under great peril and to a gambling option preferred by the insurers. The time has come when insurance companies are dependent up to 80% of revenue on ULI schemes and only a negligible percentage on the conventional insurance.


  4. #4

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    Quote Originally Posted by Satish View Post
    It is good that the returns have been pretty with the Unit Linked Insurance schemes offered by Insurance companies. But, it is to be accepted that Insurance companies venturing in to stock market places the returns of the insured under great peril and to a gambling option preferred by the insurers. The time has come when insurance companies are dependent up to 80% of revenue on ULI schemes and only a negligible percentage on the conventional insurance.
    Gambling is stock markets always a risk to only depend on ULIs. Better invest some part on conventional insurance. Termed insurance is also good option but I think these give lower return.

  5. #5

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    Everyone’s situation is different. But everyone should have a financial plan for the long-term benefit of themselves and their families. As an important part of your financial plan, life insurance can provide peace of mind for the uncertainties ahead.

    Term Life: The first type of insurance most people consider is "cheap" term insurance. That’s because it is very inexpensive and can provide high face values. A term, just like its name, is a policy that covers you for a set time period. At the end of that time, it expires unless you convert it to a whole life (if offered by the company), an annually renewable term, or a decreasing term.

    Term life has no cash value. If you stop paying for it, it simply lapses. Because it has no cash value, that is, you can't just surrender it and take the money out of it, it is also the lowest priced insurance you can buy.

    Advantages of "Term"
    Term life does have some advantages. It is cheap and yet allows you to add numerous riders such as spouse riders and child riders. Both the spouse and the children will be able to convert their portion of the rider to whole life at a later date. The conversions require no medical underwriting. Also, it is possible to combine a term rider with a universal or whole life policy, thereby taking care of your needs both now and in the future.

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    Hi Satish,

    Not much to say, all has been done by very well answered prolifically by Mr Administrator.

    I wish you follow his good attitude.
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    New Member bimadeals's Avatar
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    One of the most striking features of this plan is its Premium rates which are very low along with the maximum sum assured. Now Insurance Companies have brought in Premium Back Term Plans wherein you get benefits at the maturity of the term even if you don’t make any claims, however this feature tends to increase the overall Premium amount.

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    New Member Gideon's Avatar
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    Quote Originally Posted by Satish View Post
    Insurance is a tool to safeguard individuals and their families from unfortunate losses that happen in the family. Though there are a hoard of schemes and types of life insurance one can prefer, I would say that the basic and simple Term Insurance is the cheapest and the best form of Insurance coverage an individual can opt for. No other Life Insurance scheme gives you life insurance value for your money.
    Hi..
    I absolutely agree with you my dear..
    Present days there are many insurance policies covering not only health factors but also offering money back , investment kind of polices. I believe these are the best policies.

  9. #9
    Srijai
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    Default Best Term Insurance

    What are your thoughts about Aegon Religare Life insurance policy named iTerm? The annual premiums are very low compared to other insurances in the Indian market today.

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    New Member shamsuthbegum's Avatar
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    hi to all...
    Thanks to all your posting....
    Can anyone explain about what home insurance for PUMP insurance.
    Thanks...
    ..............

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