Term Plan Insurance:  Aegon Religare Level Term Plan vis-à-vis Met Suraksha Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

Level term plan is the term insurance plan of AEGON Religare.

Suraksha term plan is the term insurance plan of MetLife.

Age Eligibility:

For AEGON Religare level term insurance, person aged between 18 years to 55 years can buy the term insurance plan. Level term plan maximum maturity age is 75 years.

For Met Suraksha, person aged between 18 years to 60 years can buy the term insurance plan. Met Suraksha term plan maximum maturity age is 65 years.

Life Cover:

The minimum life cover that can be opted with AEGON Religare level term insurance is Rs 5 lacs. The minimum cover available with Met Suraksha is Rs 50,000.  The maximum cover in AEGON Religare level term insurance and Met Suraksha is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

The policy term for Level term plan is from 10 years to 30 years. The policy term for Met Suraksha term plan is 5, 10, 15, 20, 25 years.

Riders:

AEGON Religare level term plan has accidental death, dismemberment and disability rider, critical illness rider.

Met Suraksha term plan has accidental death benefit rider and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, AEGON Religare level term plan can be reinstated within 2 years and Met Suraksha within 3 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period Q2, 2011, the claim settlement ratio for AEGON Religare is 46% whereas for MetLife, claim settlement ratio is 79% (H1, 2011).

End Note:

Aegon Religare level term plan is a regular term life insurance plan which pays lump sum amount on death of life insured. Riders are also available with it. Met Suraksha is a similar plan. The policy term and maturity age is more for level term plan.

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Term Plan Insurance:  Aviva LifeShield Platinum vis-à-vis Met Suraksha Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

LifeShield Platinum is the term insurance product of Aviva Life Insurance.

Suraksha term plan is the term insurance plan of MetLife.

Age Eligibility:

Anyone aged between 18 years to 60 years can apply for Aviva LifeShield Platinum. The maximum age at maturity should not exceed 70 years.

For Met Suraksha, person aged between 18 years to 60 years can buy the term insurance plan. Met Suraksha term plan maximum maturity age is 65 years.

Life Cover:

The minimum life cover that can be opted with Aviva LifeShield Platinum is Rs 50 lacs for Met Suraksha, minimum life cover is Rs 50,000. The maximum cover in Aviva LifeShield Platinum and Met Suraksha plan is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

You can choose policy term from 10 years to 52 years with Aviva LifeShield Platinum. The policy term for Met Suraksha term plan is 5, 10, 15, 20, 25 years.

Riders:

Aviva LifeShield Platinum has two riders available which can be opted by paying additional premium- Accidental death benefit and Dread disease rider.

Met Suraksha term plan has accidental death benefit rider and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, Aviva LifeShield Platinum can be reinstated within 2 years and Met Suraksha within 3 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period Q2, 2011, the claim settlement ratio for Aviva life insurance is 91% whereas for MetLife, claim settlement ratio is 79% (H1, 2011).

End Note:

Aviva LifeShield Platinum has 3 variants – life protection, income replacement, loan protection. Life protection is regular term plan which pays out lump sum benefit on death of life insured; income replacement pays out regular income in form of monthly installments and also increases monthly benefit by 5% every year; loan protection is for covering your loan obligations and Sum Assured keeps decreasing uniformly. The riders are available only with life protection variant.

Met Suraksha is also a good term insurance plan with Sum Assured beginning from Rs 50,000 and also has riders that can be attached with it.

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Term Plan Insurance:  Aviva LifeShield vis-à-vis Met Suraksha Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

LifeShield is the term insurance product of Aviva Life Insurance.

Suraksha term plan is the term insurance plan of MetLife.

Age Eligibility:

Anyone aged between 18 years to 55 years can apply for Aviva LifeShield. The maximum age at maturity should not exceed 65 years.

For Met Suraksha, person aged between 18 years to 60 years can buy the term insurance plan. Met Suraksha term plan maximum maturity age is 65 years.

Life Cover:

The minimum life cover that can be opted with Aviva LifeShield is Rs 5 lacs and for Met Suraksha, minimum life cover is Rs 50,000. The maximum cover in Aviva LifeShield is Rs 50 lacs and in Met Suraksha, the maximum cover is unlimited as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

You can choose policy term from 5 years to 40 years with Aviva LifeShield. The policy term for Met Suraksha term plan is 5, 10, 15, 20, 25 years.

Riders:

There are no riders available with Aviva LifeShield. Met Suraksha term plan has accidental death benefit rider and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, both Aviva LifeShield can be reinstated within 2 years and Met Suraksha within 3 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period Q2, 2011, the claim settlement ratio for Aviva life insurance is 91% whereas for MetLife, claim settlement ratio is 79% (H1, 2011).

End Note:

Unlike Aviva LifeShield, MetLife Suraksha has no upper limit on Sum Assured. Also Met Suraksha offers riders which are available by paying bit more of premium. The policy term available for Aviva LifeShield is more than Met Suraksha.

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Term Plan Insurance:  Aviva LifeShield Plus vis-à-vis Met Suraksha Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

LifeShield Plus is the term insurance product of Aviva Life Insurance.

Suraksha term plan is the term insurance plan of MetLife.

Age Eligibility:

Anyone aged between 18 years to 55 years can apply for Aviva LifeShield Plus. The maximum age at maturity should not exceed 65 years.

For Met Suraksha, person aged between 18 years to 60 years can buy the term insurance plan. Met Suraksha term plan maximum maturity age is 65 years.

Life Cover:

The minimum life cover that can be opted with Aviva LifeShield Plus is Rs 10 lacs and for Met Suraksha, minimum life cover is Rs 50,000.  The maximum cover in Aviva LifeShield Plus and Met Suraksha is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

You can choose policy term from 10 years to 30 years with Aviva LifeShield Plus. The policy term for Met Suraksha term plan is 5, 10, 15, 20, 25 years.

Riders:

Aviva LifeShield Plus has two riders available which can be opted by paying additional premium- Accidental death benefit and Dread disease rider.

Met Suraksha term plan has accidental death benefit rider and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, Aviva LifeShield Plus can be reinstated within 2 years and Met Suraksha within 3 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period Q2, 2011, the claim settlement ratio for Aviva life insurance is 91% whereas for MetLife, claim settlement ratio is 79% (H1, 2011).

End Note:

Aviva LifeShield Plus is a term insurance plan which has broad life cover as well as riders available.

Met Suraksha is more or less the same. The marginal difference is in age eligibility and policy term.

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Term Plan Insurance:  Bharti AXA Elite Secure vis-à-vis Kotak Preferred Term Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

Elite Secure is the term insurance plan of Bharti AXA.

Preferred term plan is the term insurance plan of Kotak Life.

Age Eligibility:

For Bharti AXA Elite Secure, person aged between 18 years to 65 years can buy the term insurance plan. Elite Secure plan maximum maturity age is 75 years.

For Kotak Preferred term insurance, person aged between 18 years to 65 years can buy the term insurance plan. Preferred term plan maximum maturity age is 70 years.

Life Cover:

The minimum life cover that can be opted with both Bharti AXA Elite Secure and Kotak Preferred term plan is Rs 25 lacs. The maximum cover in Bharti AXA Elite Secure and Kotak Preferred term plan is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

The policy term for Elite Secure is from 5 years to 25 years. “Till Age 75” policy term is also available.

The policy term for Kotak Preferred term plan is from 5 years to 30 years.

Riders:

Bharti AXA Elite Secure has Accidental death and disability benefit rider and critical illness rider.

Kotak Preferred term plan has accidental death, permanent disability rider and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, both Bharti AXA Elite Secure and Kotak Preferred term plan can be reinstated within 2 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period H1, 2011, the claim settlement ratio Bharti AXA is 71% whereas for Kotak Life, claim settlement ratio is 83%.

End Note:

Bharti AXA has two important riders which can be added to base policy by paying additional premium amount.

Kotak Preferred term plan is a flexible term plan with multiple premium options- single and regular. It also has riders available with it. Also there is unique conversion option with Kotak in which you can convert to any other Kotak life insurance plan (except term plan).

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Term Plan Insurance:  Bharti AXA Elite Secure vis-à-vis ICICI Pru Pure Protect Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

Elite Secure is the term insurance plan of Bharti AXA.

Pure Protect is the term insurance plan of ICICI Pru.

Age Eligibility:

For Bharti AXA Elite Secure, person aged between 18 years to 65 years can buy the term insurance plan. Elite Secure plan maximum maturity age is 75 years.

For ICICI Pru Pure Protect, person aged between 18 years to 65 years can buy the term insurance plan. Pure Protect term insurance plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with Bharti AXA Elite Secure is Rs 25 lacs. The minimum cover available with ICICI Pru Pure Protect depends on the minimum premium available. The maximum cover in Bharti AXA Elite Secure and ICICI Pru Pure Protect is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

The policy term for Elite Secure is from 5 years to 25 years. “Till Age 75” policy term is also available.

The policy term for ICICI Pru Pure Protect is from 10 years to 30 years.

Riders:

Bharti AXA Elite Secure has Accidental death and disability benefit rider and critical illness rider.

ICICI Pru Pure Protect plan has Accidental death and disability benefit rider and waiver of premium rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, both Bharti AXA Elite Secure and ICICI Pru Pure Protect plan plan can be reinstated within 2 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period H1, 2011, the claim settlement ratio Bharti AXA is 71% whereas ICICI Pru, claim settlement ratio is 93%.

End Note:

Bharti AXA has two important riders which can be added to base policy by paying additional premium amount.

ICICI Pru Pure Protect has two variants – Classic and Elite. The difference is the range of Sum Assured offered. ICICI Pru Elite range of Sum Assured begins from Rs 25 lacs.

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Term Plan Insurance:  Bharti AXA Elite Secure vis-à-vis Aegon Religare Decreasing term Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

Elite Secure is the term insurance plan of Bharti AXA.

Decreasing term plan is the term insurance plan of AEGON Religare.

Age Eligibility:

For Bharti AXA Elite Secure, person aged between 18 years to 65 years can buy the term insurance plan. Elite Secure plan maximum maturity age is 75 years.

For AEGON Religare Decreasing term insurance, person aged between 18 years to 55 years can buy the term insurance plan. Decreasing term plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with Bharti AXA Elite Secure is Rs 25 lacs and for Aegon decreasing term plan, minimum cover is Rs 5 lacs. The maximum cover in Bharti AXA Elite Secure and Aegon decreasing term plan is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

The policy term for Elite Secure is from 5 years to 25 years. “Till Age 75” policy term is also available.

The policy term for decreasing term plan is from 10 years to 20 years.

Riders:

Bharti AXA Elite Secure has Accidental death and disability benefit rider and critical illness rider.

AEGON Religare decreasing term plan has no riders.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, both Bharti AXA Elite Secure and AEGON Religare decreasing term plan can be reinstated within 2 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period H1, 2011, the claim settlement ratio Bharti AXA is 71% whereas for AEGON Religare, claim settlement ratio is 46% (Q2, 2011).

End Note:

Bharti AXA has two important riders which can be added to base policy by paying additional premium amount.

AEGON Religare decreasing plan is targeted for people who have loan liability. This plan keeps reducing Sum Assured by 5% every year.

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Term Plan Insurance:  Bharti AXA Elite Secure vis-à-vis Aegon Religare Increasing Term Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

Elite Secure is the term insurance plan of Bharti AXA.

Increasing term plan is the term insurance plan of AEGON Religare.

Age Eligibility:

For Bharti AXA Elite Secure, person aged between 18 years to 65 years can buy the term insurance plan. Elite Secure plan maximum maturity age is 75 years.

For AEGON Religare Increasing term insurance, person aged between 18 years to 55 years can buy the term insurance plan. Increasing Level term plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with Bharti AXA Elite Secure is Rs 25 lacs and for Aegon Increasing term plan, minimum cover is Rs 5 lacs. The maximum cover in Bharti AXA Elite Secure and Aegon Increasing term plan is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

The policy term for Elite Secure is from 5 years to 25 years. “Till Age 75” policy term is also available.

The policy term for increasing term plan is from 10 years to 30 years.

Riders:

Bharti AXA Elite Secure has Accidental death and disability benefit rider and critical illness rider.

AEGON Religare Increasing term plan has accidental death, dismemberment and disability rider, critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, both Bharti AXA Elite Secure and AEGON Religare Increasing term plan can be reinstated within 2 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period H1, 2011, the claim settlement ratio Bharti AXA is 71% whereas for AEGON Religare, claim settlement ratio is 46% (Q2, 2011).

End Note:

Bharti AXA has two important riders which can be added to base policy by paying additional premium amount.

Aegon Religare Increasing term plan increases the life cover opted by 5% every year.

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Term Plan Insurance:  IndiaFirst Life plan vis-à- Bharti AXA Elite Secure Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

Life plan is the term insurance plan of IndiaFirst.

Elite Secure is the term insurance plan of Bharti AXA.

Age Eligibility:

For IndiaFirst Life Plan, person aged between 18 years to 60 years can buy the term insurance plan. Life plan maximum maturity age is 70 years

For Bharti AXA Elite Secure, person aged between 18 years to 65 years can buy the term insurance plan. Elite Secure plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with IndiaFirst Life plan is Rs 5 lacs and Bharti AXA Elite Secure, minimum cover is Rs 25 lacs.  The maximum cover in IndiaFirst Life plan and and and Bharti AXA Elite Secure as cover is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

The policy term for Life term plan is from 5 years to 30 years. The policy term for Elite Secure is from 5 years to 25 years. “Till Age 75” policy term is also available.

Riders:

There are no riders available with IndiaFirst Life plan.

Bharti AXA Elite Secure has Accidental death and disability benefit rider and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, both IndiaFirst Life plan and Bharti AXA Elite Secure plan can be reinstated within 2 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period Q2, 2011, the claim settlement ratio for IndiaFirst is 84% for Bharti AXA, claim settlement ratio is 71% (H2, 2011).

End Note:

Though cover is extensive in IndiaFirst Life plan, there are no riders available with it. IndiaFirst Life plan is flexible in terms of premium payment as it has both single and regular premium payment frequency.

Bharti AXA has two important riders which can be added to base policy by paying additional premium amount.

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Term Plan Insurance:  Aegon Religare Level Term Plan vis-à-vis Bharti AXA Elite Secure Plan

A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured.

Level term plan is the term insurance plan of AEGON Religare.

Elite Secure is the term insurance plan of Bharti AXA.

Age Eligibility:

For AEGON Religare level term insurance, person aged between 18 years to 55 years can buy the term insurance plan. Level term plan maximum maturity age is 75 years.

For Bharti AXA Elite Secure, person aged between 18 years to 65 years can buy the term insurance plan. Elite Secure plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with AEGON Religare level term is Rs 5 lacs and for and Bharti AXA Elite Secure, minimum cover is Rs 25 lacs.  The maximum cover in AEGON Religare level term insurance and AXA Elite Secure is very high and can be opted as long as it is approved by insurer’s underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term:

The policy term for Level term plan is from 10 years to 30 years. The policy term for Elite Secure is from 5 years to 25 years. “Till Age 75” policy term is also available.

Riders:

AEGON Religare level term plan has accidental death, dismemberment and disability rider, critical illness rider.

Bharti AXA Elite Secure has Accidental death and disability benefit rider and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes. The premium for females is bit lower.

Reinstatement:

On policy lapse, both AEGON Religare level term plan and Bharti AXA Elite Secure can be reinstated within 2 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again.

Claim Settlement Ratio:

CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formula- claim settled/total claims.

For the period Q2, 2011, the claim settlement ratio for AEGON Religare is 46 whereas for Bharti AXA, claim settlement ratio is 71% (H2, 2011).

End Note:

Aegon Religare level term plan is a regular term life insurance plan which pays lump sum amount on death of life insured. Riders are also available with it. Bharti AXA is also a similar product. There is not much to differentiate among the two as per features in the plan.

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