Term Plan Insurance: DLF U-Protect 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.

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

Term Plan is the term insurance plan of Reliance Life.

Age Eligibility:

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.

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 DLF U-Protect is Rs 25 lacs. For Reliance Term Life, minimum cover is Rs 2.5 lacs. The maximum cover in DLF U-Protect 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 DLF U-Protect is from 10 years to 30 years.  The policy term for Reliance Term Life is from 5 years to 30 years.

Riders:

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

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, both DLF U-Protect and Reliance Term Life can be reinstated 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 DLF Pramerica is 16% whereas for Reliance Life, claim settlement ratio is 63%. 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:

DLF U-Protect is a good plan which has minimum life cover of Rs 25 lacs and has two critical riders available with it. Reliance term life is also 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: DLF U-Protect 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.

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

Raksha is the term insurance plan of Tata AIG Life.

Age Eligibility:

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.

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 DLF U-Protect is Rs 25 lacs. For Tata AIG Raksha, minimum cover is Rs 5 lacs.The maximum cover in DLF U-Protect 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 DLF U-Protect is from 10 years to 30 years.  The policy term with Tata AIG Raksha is 10, 15, 20 and 25 years.

Riders:

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

There are no riders available with 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, DLF U-Protect can be reinstated within 3 years and Tata AIG Raksha 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 DLF Pramerica is 16% whereas for Tata AIG, claim settlement ratio is 82% (H1, 2011). 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:

DLF U-Protect is a good plan which has minimum life cover of Rs 25 lacs and has two critical riders available with it. 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 DLF U-Protect. Tata AIG Raksha has no riders available with it.

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Term Plan Insurance: DLF U-Protect vis-à-vis SUD Life Premier Protection

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

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

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

Age Eligibility:

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.

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 DLF U-Protect is Rs 25 lacs. For SUD Premier Protection, minimum cover is Rs 25 lacs. The maximum cover in DLF U-Protect 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 DLF U-Protect is from 10 years to 30 years.  The policy term for SUD Premier Protection is from 5 years to 25 years.

Riders:

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

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, both DLF U-Protect and SUD Premier Protection can be reinstated 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 DLF Pramerica is 16% whereas for Star Union Dai-ichi, claim settlement ratio is 57%. 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:

DLF U-Protect is a good plan which has minimum life cover of Rs 25 lacs and has two critical riders available with it.. 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: DLF U-Protect 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.

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

Pure Protect is the term insurance plan of ICICI Pru.

Age Eligibility:

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.

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 DLF U-Protect is Rs 25 lacs. The minimum cover available with ICICI Pru Pure Protect depends on the minimum premium available. The maximum cover in DLF U-Protect 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 both DLF U-Protect and ICICI Pure Protect is from 10 years to 30 years.

Riders:

DLF U-Protect has Accidental death benefit 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.

Reinstatement:

On policy lapse, DLF U-Protect can be reinstated within 3 years and ICICI Pru Pure Protect 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 DLF Pramerica is 16% whereas for ICICI Pru, claim settlement ratio is 93% (H1, 2011). 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:

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.

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. Riders are also available with ICICI term plan.

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Term Plan Insurance: DLF U-Protect 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.

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

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

Age Eligibility:

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.

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 DLF U-Protect and Kotak preferred is Rs 25 lacs. The maximum cover in DLF U-Protect 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 DLF U-Protect is from 10 years to 30 years.  The policy term for Kotak Preferred term plan is from 5 years to 30 years.

Riders:

DLF U-Protect has Accidental death benefit 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.

Reinstatement:

On policy lapse, DLF U-Protect can be reinstated within 3 years and Kotak Preferred 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 DLF Pramerica is 16% whereas for Kotak Life, claim settlement ratio is 93% (H1, 2011). 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:

DLF U-Protect has broad cover and you can attach riders with it as well if required.

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: IDBI Federal Termsurance Protection 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.

Termsurance Protection is the term insurance plan of IDBI Federal.

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

Age Eligibility:

For IDBI Federal Termsurance Protection, person aged between 18 years to 65 years can buy the term insurance plan. Termsurance Protection plan maximum maturity age is 75 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 IDBI Federal Termsurance Protection is Rs 5 lacs For DLF U-Protect Life, minimum cover is Rs 25 lacs. The maximum cover in IDBI Federal Termsurance Protection 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 IDBI federal Termsurance Protection plan is 10 years to 30 years. The policy term for DLF U-Protect is from 10 years to 30 years.

Riders:

There are no riders available IDBI Federal Termsurance Protection Plan.

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, IDBI Federal Termsurance Protection can be reinstated within 2 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 for IDBI Federal is 41% whereas for DLF Pramerica, claim settlement ratio is 16% (Q2, 2011).  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:

IDBI Federal has broad Sum Assured but has no riders. DLF U-Protect also has good range of Sum Assured. Also accidental death and critical illness rider can be added by paying additional premium to increase financial security.

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Term Plan Insurance: Aegon Religare Level Term Plan 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.

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

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

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 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 AEGON Religare level term insurance is Rs 5 lacs. For DLF U-Protect Life, minimum cover is Rs 25 lacs. The maximum cover in AEGON Religare level term insurance 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 Level term plan is from 10 years to 30 years. The policy term for DLF U-Protect is from 10 years to 30 years.

Riders:

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

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, AEGON Religare level term plan can be reinstated within 2 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 for AEGON Religare is 46% whereas for DLF Pramerica, claim settlement ratio is 16% (Q2, 2011).  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:

Both Aegon Religare level term and DLF U-Protect are good term life insurance plan which pays lump sum amount on death of life insured. Riders are also available with them which can be attached to increase financial security.

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Term Plan Insurance:  SBI Life Smart Shield Plan 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.

Smart Shield term plan is the term insurance plan of SBI Life.

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

Age Eligibility:

For SBI Life Smart Shield, person aged between 18 years to 65 years can buy the term insurance plan. Smart Shield term 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 both SBI Life Smart Shield and DLF U-Protect is Rs 25 lacs.  The maximum cover in SBI Life Smart Shield 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 both SBI Smart Shield term plan is from 5 years to 30 years. The policy term for DLF U-Protect is from 10 years to 30 years.

Riders:

SBI Smart Shield term plan has Accidental death benefit, Accidental total and permanent disability rider and accelerated critical illness rider.

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, both SBI Smart Shield and DLF U-Protect can be reinstated 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 SBI Life is 84% whereas for DLF Pramerica, claim settlement ratio is 16% (Q2, 2011).  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:

SBI Life Smart Shield is flexible term plan, it has 4 options which you can choose from- level term assurance, increasing term assurance, decreasing term assurance (loan) and decreasing term assurance (family income protection). Reliance Term Life has broad Sum Assured. There is also one rider- accidental death and disability which can be added with the base plan. DLF U-Protect offers two very important riders which can be added to the base plan.

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Term Plan Insurance:  Bharti AXA Elite Secure 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.

Elite Secure is the term insurance plan of Bharti AXA.

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

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 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 Bharti AXA Elite Secure is Rs 25 lacs. For DLF U-Protect, minimum cover is Rs 25 lacs. The maximum cover in Bharti AXA Elite Secure 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 Elite Secure is from 5 years to 25 years. “Till Age 75” policy term is also available.

The policy term for DLF U-Protect is from 10 years to 30 years.

Riders:

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

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, Bharti AXA Elite Secure can be reinstated within 2 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 H1, 2011, the claim settlement ratio Bharti AXA is 71% whereas for DLF Pramerica, claim settlement ratio is 16% (Q2, 2011).  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:

Both Bharti AXA Elite Secure and DLF U-Protect are good term life insurance plan which pays lump sum amount on death of life insured. Both term plans Sum Assured begins from Rs 25 lacs.  Riders are also available with them which can be attached to increase financial security.

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Term Plan Insurance: Aviva LifeShield Platinum 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.

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

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

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 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 Aviva LifeShield Platinum is Rs 50 lacs. For DLF U-Protect, minimum cover is Rs 25 lacs. The maximum cover in Aviva LifeShield Platinum and DLF U-Protect 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 10 years to 52 years with Aviva LifeShield Platinum. The policy term for DLF U-Protect is from 10 years to 30 years.

Riders:

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

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, Aviva LifeShield Platinum can be reinstated within 2 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 for Aviva life insurance is 91% 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:

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.

DLF U-Protect has good comprehensive range of life cover available with it. You can add the important accidental rider also if needed by paying additional premium to enhance financial security.

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