Which is the best Life policy in the market.?

Question

Want to take any life policy which has good return also.

Answer 1

There are so many high quality policies from high quality companies that it is unfair to single out any one.

However, you should strongly consider why you want the policy. It sounds as if you are looking at it for investment purposes.

If so, you may want to look elsewhere for good returns.

Buy a good inexpensive term policy and use the savings to invest on your own and pay a lot less fees and commissions.

Answer 2

That is not an answerable question. There are many factors involved that must be considered:
What are your individual needs?
Are you providing for yourself or a family of 8?
Are you 20 years old or 65?
Do you have any coverage now?
Are you healthy or have medical conditions?
How much is affordable?
Do you need to help cover a $500k mortgage or only need a $20k final expense?
Are you fresh out of school & living in the basement with only the clothes that Mom washes for you to your name? or middle aged with a business you own?

this is just to illustrate how many (and these are not all) factors go into choosing a policy. It cant be done by price alone, regardless of what Suze Orman says. You may find a very cheap one on cost, but your health disqualifies you for that particular one, so you are forced to buy more expensive. You could find an ultra cheap one & the company is rated B- & could cost you much more later. If you go with the big well known name, you could be paying more & not have rider options that could benefit you.

And how many people do you know actually take the difference between term & whole, & invest it?

Answer 3

There are several things you need to consider. First what are you purchasing the insurance for, to replace income for family, provide estate liquidity etc.

Next the amount of coverage you need and the duration of that need. For example, if you only need the coverage for a short period of time (meaning less than 20 years) then term might be a good fit. If you need is beyond 20 years then universal life may be a fit.

As far as a good return, I am on a believer in buying life insurance as an investment. If you want to invest, invest, if you want insurance buy insurance. Though Universal Life does pay interest the real purpose is to provide protection.

As far as companies, shop around. You can finds vast differences in premiums between companies and products.

Answer 4

Do you need a life policy? have you depentants? Take out a convertable term assurance policy for a sum assured that will provide for your dependants.

Provide for your savings separately to maximise your return. In the long run equity based funds will out perform all others but they are very risky. Fixed interest funds deliver stable returns without the underlying risks of losing some or all of your money

Answer 5

First calculate your human life value and then decide whether to go for a term insurance or an endowment.

Term assurance are cheaper and only the risk is covered. It is better to invest in Mutual funds and equity for growth of your investment.

Popular term assurance plan from LIC is Anmol Jeevan

Answer 6

Firstly, it depends on ur actual need?
that is either u want policy which is best for income tax rebate or more facilitating to life risk coverage,
But today in market the best insurer after LIC in life insurance is ICICI prudential, & one of the best policy they provide is TERM INSURANCE WITH ENDOWMENT!
Rest deepnds on ur market study

Answer 7

This is all based on an individuals needs.
Then make sure the comapany has at least a A rating from Best or Standard Poors --they rate the insurance companies for finanacial stability.

Answer 8

get term insurance - it is cheaper
then take the extra money a "whole life" policy would cost you - and invest in a Roth IRA

and you will have a ton MORE money

Happy Thank$giving

Answer 9

Insurance is covering a risk and investment is looking for returns.
You do not expect your insurer to provide you best returns and cover your risk also. hence it is advisable you go for whole life insurance and invest in equity related mutual funds for best returns. beware risk and return are interrrelated.

Answer 10

term insurance with HDFC is the cheapest.
for best returns invest in MF.