Life Insurance India

The life insurance in India is offered by many companies like LIC India, Reliance, Policy Bazaar, ING Life, etc. The needs for insurance plans vary from people to people. The lifestyle, habits, custom, income range, earning potential differs greatly and so one policy would not fit all. Keeping this in mind the life insurance India has launched a number of insurance policies that will suit these people.


The life insurance India is one of the fastest growing sectors in India after the private players are allowed in 2000 by the Government of India. The top insurance company LIC of India was nationalized in 1956. This is the one public sector company and there are 22 other private sector companies like SBI Life Insurance, Metlife India Life Insurance, Bajaj Allianz Life, ICICI Prudential Life Insurance, Tata AIG Life, Sahara Life Insurance, Max New York Life Insurance, HDFC Standard Life, Birla Sunlife, Canara HSBC Oriental Bank of commerce Life Insurance, Kotak Life Insurance, DLF Pramerica Life Insurance, Aviva Life Insurance, AEGON Religare Life Insurance, Reliance Life Insurance Company Limited, ING Vysya Life Insurance, Shriram Life Insurance, IDBI Fortis Life Insurance, Future Generali Life Insurance Co Ltd, India First Life Insurance Company Limited, Star Union Dia-ichi Life Insurance Co. Ltd and Edeweiss Tokio Life Insurance Company Limited.


Any policy holder will have to pay a particular amount of money every year. This may be split into quarterly payments or half yearly payments. After the maturation the amount will be handed over to the policy holder along with a particular percentage of interest. If he dies in the mean time before the policy lapses, full amount will be given to the family. Some life insurance companies offer many health benefits along with these fixed benefits.


Anyone who is ready to learn the fundamentals of the life insurance India can become an insurance agent. He will receive a commission of 7 to 10 percent of the total money paid. This is a good part time job for those who are already engaged in other business ventures. The commission will be paid for the amount collected for every year.


The life insurance plans are also tax savers. Many people invest in these schemes to get a reduction in their taxes. There are term life insurance plans, child plans, money back policies, investment plans and pension plans for different category of people. You can also choose the monthly income plan along with the life insurance coverage and tax saving benefits. You will receive a particular amount of money as pension every month in your old age if you opt for this scheme.


Together with life insurance plans there are other plans offered like motor insurance plans, travel insurance plans, personal accident plans, home insurance plans, group insurance plans, retirement plans, child plans and other savings plans. Medical tests are mandatory for some life policies and some plans give privileges like demanding no medical tests up to the age of 45. If the policy amount is higher you will also get attractive discounts. Foreign investment in life insurance India sector is allowed up to 49% as per the recent policy of the Indian government.

Article Posted By : SumazlalView All Articles

Suhaina Mazhar is a freelance content writer and blogger with five years experience in content writing. is her blog.

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