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Term plan premiums

Deepak Shenoy1 min read
Quick Facts
What is "Term plan premiums" about?
What category is this article in?
General
Who wrote this article?
Deepak Shenoy, Capitalmind's research team.
When was this article published?
Published 14 August 2006.
How long does this article take to read?
1 min read
What topics does this article cover?
Insurance

A number of people have asked me what the premiums are plain term plans offered by various companies. Here’s the figures I’ve collated:

Company Age: 31 years (30 yr term) Age: 40 years (15 yr term) Reliance Life 5585 7850 SBI life 4709 (25 years term max) 8001 Prudential ICICI 6052 9095 MetLife 5250 (29 years term max) 8100 HDFC Standard 5070 7590 OM Kotak (non smoker) 5555 7050 LIC 6133 (25 years term max)

8628

Notes:

  1. For Age 31: the values are for a sum assured of Rs. 15 Lakhs, for a 30 year term.

  2. For Age 40: the values are for a sum assured of Rs. 15 Lakhs, for a 15 year term.

  3. Some companies don’t offer a 30 year term (mentioned in brackets) and therefore are not strictly comparable.

  4. Disclaimer: All values are from the online premium calculators in these companies’ web sites. Nothing above is guaranteed, and I am not an agent or representative of these companies. The values may change with time, so there is no assurance of accuracy either.

  5. Extra Service Tax + Cess may be applicable. Please confirm before you buy a policy.

For an age of 31 (my age): HDFC Standard seems to be very good value. (Don’t consider the smaller term plans)

For an age of 40: OM Kotak seems to be the cheapest.

Tagged:Insurance