ICICI Launches an online iProtect plan – for a 35 year old, the premium is just 24,000 for a 30 year, 1 crore term insurance. This is bought entirely online (no agents).
This is fairly cheap, but the only problem I have is that this is ICICI insurance and I’ve had a bad experience with their claims process.
Their comparable other product, the offline Pure Protect, offers 50 lakhs of insurance for 18,000 (30 year term). The online product, for the same conditions is 30% cheaper at 12,850.
I like this competition to Religare’s iTerm, and I really hope LIC jumps in. I trust them a lot.
