The Best Life Insurance Options in India
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Life insurance can seem like a waste of money. After all, no one wants to think about their death – but life can take unexpected turns, and failing to plan for the worst could leave your loved ones in serious financial trouble.
Life insurance provides peace of mind and prevents uncertainty. And getting a life insurance policy doesn’t have to be expensive. Coverage for Rs 1 crore can cost as little as 1,000 Rs per month¹. That’s insurance for less than the price of a cup of coffee.
If you don’t have life insurance, or if you’re looking to change your current policy, here are three of the best life insurance companies available in India.
Aegon Life Insurance
Aegon Life Insurance is a new player in India, but this provider has become one of the best in the country since it first started offering policies. With a wide selection of different types of life insurance products, Aegon offers plans that can meet anyone’s needs, at any premium rate.
No matter your age, your health, or your insurance needs, Aegon offers a plan that’s suited. Every Aegon plan includes protection, savings, wealth appreciation, security for the future, and retirement planning.
Aegon Life Insurance includes the following term life insurance policy types, which insure you in the event that you die while the plan is active²:
- iTerm Insurance – An affordable, low-cost life insurance plan that covers up to Rs 1 crore.
- Easy Protect Insurance – A life insurance plan focused on assured monthly income, with a payout of Rs 10,000 monthly.
- Life Term Insurance – This plan covers two family members, and offers a maximum of two benefits payouts.
- Life iReturn Insurance – The simplest and easiest life insurance plan offered by Aegon, this policy requires no paperwork and repays the premiums if death happens.
Kotak Life Insurance
As one of the leading insurance companies in India, Kotak Life Insurance – or Kotak Mahindra Life Insurance – is offered in combination by two popular banks. Since its creation, Kotak Life Insurance has grown impressively, and it’s now one of the most trusted in the country. More than 4 million people are insured under Kotak.
Kotak Life Insurance offers a selection of unique life insurance plans. You can even combine benefits and financial concerns, like life insurance and pension or life insurance and investments. If you need a more specialized or in-depth policy that includes additional benefits, you can find exactly what you need here.
Kotak Mahindra Life Insurance Company offers life insurance policies that include³:
- ULIP Life Insurance Plans – With low premium payments and the option to use funds to build wealth, these types of plans cover your finances and boost your finances.
- Pension Life Insurance Plans – These life insurance plans cover both your retired life and potential death or disaster.
- Life Insurance Child Plans – These plans will support your child and provide money for his or her education.
ICICI Prudential Life Insurance
ICICI Prudential Life Insurance is offered by ICICI Bank, India’s largest private financial services company. And since it was first founded, this insurance company has earned recognition for its premium service and coverage. With a National Insurer Financial Strength rating of AAA and the public voting ICICI Prudential Life Insurance the Most Trusted Private Life Insurer in India, it’s a company everyone needs to consider.
From the press to the public, it’s clear that ICICI Prudential is the company that offers some of the very best policies and choices in the life insurance market. With popular plans including features and benefits like the following, it’s easy to see why ICICI Prudential Life Insurance is so well-liked⁴:
- Affordable term life insurance plans
- Customisable insurance policies
- Comprehensive benefits that cover you against death, terminal illness, and disability
- Additional coverage by way of optional riders
- Can increase coverage at important life milestones, like marriage or child’s birth
- Tax benefits on premiums paid
Secure Life Insurance to Protect Your Loved Ones Today
If you’re currently without life insurance, you’re putting your loved ones at risk. How would they financially support themselves without your income? Would there be any money left? For most people in India, the answers to these questions are unclear.
You need to protect your family and give yourself peace of mind with a life insurance policy. The cost of a policy isn’t expensive. For the cost of a daily cup of coffee, you could pay your life insurance premium. With the right plan, securing benefits and protection for your life doesn’t have to be out of your budget.