Term Plan Insurance: LIC Amulya Jeevan vis-à-vis DLF U-Protect

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

U-Protect is the term insurance plan of DLF Pramerica.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For DLF Pramerica U-Protect, person aged between 18 years to 55 years can buy the term insurance plan. DLF U-Protect plan maximum maturity age is 65 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs. For DLF U-Protect, minimum cover is Rs 25 lacs. The maximum cover in LIC Amulya Jeevan and DLF U-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 Amulya Jeevan is from 5 years to 35 years.  The policy term for DLF U-Protect is from 10 years to 30 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

DLF U-Protect has Accidental death benefit and critical illness rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and DLF U-Protect 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 of Life Insurance Corporation of India is 77% whereas for DLF Pramerica, claim settlement ratio is 16%.  The 16% claim settlement should not be broad parameter for taking decision since DLF is new insurer and claim settlement is not a true reflection of insurer in initial years.

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. However there are no riders available with LIC Amulya Jeevan. DLF U-Protect is a good term plan which has good comprehensive life cover available. You can also add the valuable accidental death and critical illness rider by paying additional premium to increase financial security.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis Bajaj Allianz New Risk Care II Plan

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

New Risk Care II plan is the term insurance plan of Bajaj Allianz.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For Bajaj Allianz New Risk Care II, person aged between 18 years to 60 years can buy the term insurance plan. Bajaj Allianz New Risk Care II term plan maximum maturity age is 65 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs and for Bajaj Allianz New Risk Care II, minimum cover is Rs 2 lacs. The maximum cover in LIC Amulya Jeevan and Bajaj Allianz New Risk Care II 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 Amulya Jeevan is from 5 years to 35 years. The policy term available with Bajaj Allianz New Risk Care II plan is from 5 years to 40 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

Bajaj Allianz New Risk Care II term plan has Comprehensive accident protection, critical illness and hospital cash benefit rider.

Premium Comparison:

The premium payment frequency available with Bajaj Allianz New Risk Care II is single premium only. Single premium payment frequency is not available with LIC Amulya Jeevan and as such premium comparison is not possible.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and Bajaj Allianz New Risk Care II 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 of Life Insurance Corporation of India is 77% whereas for Bajaj Allianz, claim settlement ratio is 74%.

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. Bajaj Allianz New Risk Care II is a good term insurance plans which is suitable for individuals looking for particular Sum Assured. Riders can be added with Bajaj Allianz New Risk Care II plans by paying additional premium to increase financial security. However you can opt for single premium payment option only with New Risk Care II.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis Max New York Platinum Protect Plan

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

Platinum Protect is the term insurance plan of Max New York Life.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For Max New York Platinum Protect, person aged between 18 years to 60 years can buy the term insurance plan. Max New York Platinum Protect maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs. For Max New York Platinum Protect, minimum cover is Rs 25 lacs. The maximum cover in LIC Amulya Jeevan and Max New York Platinum 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 Amulya Jeevan is from 5 years to 35 years The policy term available with Max New York Platinum Protect is 10, 15, 20, 25 or 30 Years.

Riders:

There are no riders available with LIC Amulya Jeevan.

Max New York Platinum Protect has Personal Accident benefit and dread disease rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and Max New York Platinum Protect within 6 months 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 of Life Insurance Corporation of India is 77% whereas for Max New York Life, claim settlement ratio is 69%.

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. Max New York Platinum Protect scores over Amulya Jeevan in terms of riders as there are no riders with Amulya Jeevan.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis Tata AIG Life Raksha

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

Raksha is the term insurance plan of Tata AIG Life.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For Tata AIG Life Raksha, person aged between 18 years to 50 years can buy the term insurance plan. Raksha term plan maximum maturity age is 60 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs. For Tata AIG Raksha, minimum cover is Rs 5 lacs.The maximum cover in LIC Amulya Jeevan and Tata AIG Raksha 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 Amulya Jeevan is from 5 years to 35 years.  The policy term with Tata AIG Raksha is 10, 15, 20 and 25 years.

Riders:

There are no riders available with both LIC Amulya Jeevan and Tata AIG Raksha.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, both LIC Amulya Jeevan and Tata AIG Raksha can be reinstated within 5 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 of Life Insurance Corporation of India is 77% whereas for Tata AIG, claim settlement ratio is 82% (H1, 2011).

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. Tata AIG Raksha has broader range of Sum Assured as the minimum Sum Assured with it is Rs 5 lacs which is Rs 25 lacs in case of LIC Amulya Jeevan. Both plans have no riders available with them.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis BSLI Protector Plus

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

Protector Plus is the term insurance plan of Birla Sun Life Insurance.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For BSLI Protector Plus, person aged between 18 years to 65 years can buy the term insurance plan. Protector Plus plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs. For BSLI Protector Plus, minimum cover is Rs 50 lacs.  The maximum cover in LIC Amulya Jeevan and BSLI Protector Plus 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 Amulya Jeevan is from 5 years to 35 years.  The policy term for Protector Plus is from 5 years to 30 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

BSLI Protector Plus has Accidental death and disability, Critical illness, Surgical care, Hospital care and waiver of premium riders which can be added to the base policy.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and Birla Sun Life Protector Plus Plan 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 of Life Insurance Corporation of India is 77% whereas for Birla Sun Life, claim settlement ratio is 82%.

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. However there are no riders available with LIC Amulya Jeevan. BSLI Protector Plus is very comprehensive term plan. The cover begins from Rs 50 lacs and you can add riders by paying a bit more premium.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis BSLI Protector Plan

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

Protector is the term insurance plan of Birla Sun Life.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For Birla Sun Life Protector Plan, person aged between 18 years to 65 years can buy the term insurance plan. Birla Protector Plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs. For Birla Sun Life Protector Plan, minimum cover is Rs 5 lacs. The maximum cover in LIC Amulya Jeevan and Birla Sun Life Protector 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 Amulya Jeevan is from 5 years to 35 years.  The policy term available with Birla Sun Life Protector Plan is from 5 years to 30 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

Birla Sun Life Protector Plan has Accidental death and disability, critical illness, surgical care, hospital care and waiver of premium rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and Birla Sun Life Protector Plan 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 of Life Insurance Corporation of India is 77% whereas for Birla Sun Life, claim settlement ratio is 82%.

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. However there are no riders available with LIC Amulya Jeevan. BSLI Protector offers two variants to choose from- level cover and increasing cover. It also has variety of riders which can be added by paying additional premium. However there is cap on maximum life cover which is Rs 49.99 lacs.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis ING Vysya Term Life

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

Term Life is the term insurance plan of ING Vysya.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For ING Vysya Term Life, person aged between 18 years to 65 years can buy the term insurance plan. Term Life plan maximum maturity age is 75 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs. For ING Vysya Term Life, minimum cover is Rs 10 lacs.  The maximum cover in LIC Amulya Jeevan and ING Vysya Term Life 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 Amulya Jeevan is from 5 years to 35 years.  The policy term that can be opted with ING Vysya Term Life is between 10 and 30 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

ING Vysya Term Life has 2 riders- Accidental death benefit rider and Accidental death, disability and dismemberment benefit.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and ING Vysya Term Life Plan 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 of Life Insurance Corporation of India is 77% whereas for ING Vysya Life Insurance, claim settlement ratio is 85% (H1, 2011).

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. However there are no riders available with LIC Amulya Jeevan. ING Vysya Term Life is a good term plan and riders can be added to the policy as well.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis SUD Life Premier Protection Plan

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

Premier Protection is the term insurance plan of Star Union Da-ichi Life Insurance.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For SUD Premier Protection plan, person aged between 18 years to 60 years can buy the term insurance plan. SUD Premier Protection plan maximum age at maturity is 65 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs For SUD Premier Protection, minimum cover is Rs 25 lacs. The maximum cover in LIC Amulya Jeevan and SUD Premier Protection 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 Amulya Jeevan is from 5 years to 35 years.  The policy term for SUD Premier Protection is from 5 years to 25 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

SUD Premier Protection has Accidental death and total and permanent disability rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and SUD Premier Protection 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 of Life Insurance Corporation of India is 77% whereas for Star Union Dai-ichi, claim settlement ratio is 57%.

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. However there are no riders available with LIC Amulya Jeevan. Star Union Dai-ichi Premier Protection plan is a good term insurance plan with good range of Sum Assured. You can also add Accidental rider with it by paying additional nominal premium.

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Term Plan Insurance: LIC Amulya Jeevan vis-à-vis Reliance Term Plan

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

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

Term Plan is the term insurance plan of Reliance Life.

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years.

For Reliance Term Life, person aged between 21 years to 60 years can buy the term insurance plan. Reliance Term Life plan maximum maturity age is 65 years.

Life Cover:

The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs For Reliance Term Life, minimum cover is Rs 2.5 lacs. The maximum cover in LIC Amulya Jeevan and Reliance Term Life 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 Amulya Jeevan is from 5 years to 35 years.  The policy term for Reliance Term Life is from 5 years to 30 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

Reliance Term Life has Accidental death benefit and total and permanent disablement rider.

Premium Comparison:

The premium comparison for few samples is given below:

*kindly verify the premium for any changes.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and ING Reliance Term Life 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 of Life Insurance Corporation of India is 77% whereas for Reliance Life, claim settlement ratio is 63%.

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. However there are no riders available with LIC Amulya Jeevan. Reliance term life is a good term plan which has good comprehensive life cover available. You can also add the valuable accidental death and disability rider by paying additional premium to increase financial security.

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Term Plan Insurance: LIC Amulya Jeevan 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.

Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India.

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

Age Eligibility:

For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 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 LIC Amulya Jeevan and Kotak Preferred term plan is Rs 25 lacs. The maximum cover LIC Amulya Jeevan 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 Amulya Jeevan is from 5 years to 35 years. The policy term for Kotak Preferred term plan is from 5 years to 30 years.

Riders:

There are no riders available with LIC Amulya Jeevan.

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.

Reinstatement:

On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and Kotak Preferred term 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 of Life Insurance Corporation of India is 77% whereas for Kotak Life, claim settlement ratio is 83% (H1, 2011).

End Note:

LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. However there are no riders available with LIC Amulya Jeevan.

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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