Comparison of Insurance Rates

Dear Policy Holders,

One of the most over riding concerns for you must be the cost of insurance. The best bench mark for the cost comparison is the term plan (which covers the death risk cover only without any other benefit). I give below the comparable term plan premium rates of HDFC SLIC along with the LIC's plan below:

Age of Life Assured : 30 yrs/20yrs
Sum Assured: Rs five lacs/Rs five lacs
Term of Policy : 25 yrs/20yrs
Premium Paying Term : 25 yrs/20yrs
Premium Payable:Annually/Annually
Premium Chargeable by HDFC SLIC :Rs 1600/-/Rs 3885/-
Premium Chargeable by LIC :Rs 1911/-/Rs 5311/-

You may see clearly the stark difference in rates of both the companies. Similarly there is lesser rate applicable for the HDFC SLIC's other plans also for the same type of benefits. The true maturity values will be reflected in the standard illustrations provided by companies as per IRDA norms and you must insist on these illustrations before finalising the choice of plan and the company from whom you would like the take the policy.

Hari Om

Krishna Kumar Khandelwal