A number of people have asked me what the premiums are plain term plans offered by various companies. Here’s the figures I’ve collated:
|
Company |
Age: 31 years (30 yr term) |
Age: 40 years (15 yr term) |
|
Reliance Life |
5585 |
7850 |
|
SBI life |
4709 (25 years term max) |
8001 |
|
Prudential ICICI |
6052 |
9095 |
|
MetLife |
5250 (29 years term max) |
8100 |
|
HDFC Standard |
5070 |
7590 |
|
OM Kotak (non smoker) |
5555 |
7050 |
|
LIC |
6133 (25 years term max) |
8628 |
Notes:
1) For Age 31: the values are for a sum assured of Rs. 15 Lakhs, for a 30 year term.
2) For Age 40: the values are for a sum assured of Rs. 15 Lakhs, for a 15 year term.
3) Some companies don’t offer a 30 year term (mentioned in brackets) and therefore are not strictly comparable.
4) Disclaimer: All values are from the online premium calculators in these companies’ web sites. Nothing above is guaranteed, and I am not an agent or representative of these companies. The values may change with time, so there is no assurance of accuracy either.
5) Extra Service Tax + Cess may be applicable. Please confirm before you buy a policy.
For an age of 31 (my age): HDFC Standard seems to be very good value. (Don’t consider the smaller term plans)
For an age of 40: OM Kotak seems to be the cheapest.
