Life Insurance in India – An Insight

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Life Insurance in India –

Life Insurance in India is one of the most booming industries in India nowadays as Government has permitted FDI and private players to invest up to 26 percent into this field. It is also being marketed by companies like AIG, ICICI, HDFC etc. As life Insurance has been termed as one of the biggest business opportunities in the country, India is flooded with Insurance Companies offering policies in this field. Thus it is very easy to find an Insurance Company offering insurance of any type at a reasonable rate.

Life Insurance in India is mainly divided into two categories which are Term Life and Whole Life Insurance. With the growth in the number of people living here, the number of policies available for them has also increased which makes it extremely competitive and also highly profitable.

 

The Insurance Companies offering these policies offer various types of policies like Term life insurance, Family policies, Travel policies, Business policies and even Life Settlements. These policies are available in different types like Term, Premium, and Variable premium policies.

 

Term life insurance generally covers the insured for a definite period. It is suitable for those people who are employed, have a house or other investments and also have a fixed salary. Term Insurance in India is offered by AIG, ICICI, HDFC etc. which are well-known for providing quality services.

 

If you have a family insurance policy which is not being renewed then your life insurance in India can help you save a lot of money. You can easily get affordable plans that suit your budget if you contact a reputed and experienced company like AIG, ICICI, HDFC etc.

 

Travel policies are another type of Life Insurance that provides protection to the insured for a specific period after the death of the insured person. The amount of the policy depends upon the type of insurance available. However, the basic idea of this policy is the same. In order to get these policies in India you should contact a reputed insurance company and request for a quote on the same. You must compare different policies which suit your needs.

 

Finally, you can also opt for Life Settlements which provides guaranteed benefits to the insured after his or her death. The policies of this category are offered by many leading companies like HDFC, ICICI, and AIG, which are well known for providing the best rates.

 

In summary, if you have decided to avail life insurance in India from any of these companies, then you must be ready to spend time and money in finding an ideal plan which suits you and also fits in with your financial needs. The most important thing is that when you search for the plan, don’t settle for any plan without doing proper research and do thorough homework.

 

Search Online, you will find so many quotes from so many companies. All you need is a little patience to gather as much information as possible and then compare them. When you do the comparisons properly, you can have a good idea about the policies available and also find the right plan to meet your personal requirements.

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