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Life Insurance in Bangalore

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    life insurance in Bangalore

    Find 2250+ life Insurance providers in Bangalore for your family. Sulekha have served with a range of services across banking and top insurance sectors like Life Insurance Corporation of India(LIC), SBI Life, Reliance Life, Bajaj Allianz Life Insurance, Birla Sun Life Insurance, HDFC Standard Life, Tata AIG Life, Kotak Life Insurance, Max Life Insurance, ICICI Prudential Life Insurance.

    Best 10 Life Insurance Companies in Bangalore

    as on Sep 30, 2020
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    1. Narendra J-Bangalore-Life Insurance

      Narendra J

      Vijayanagar 2nd Stage, Vijayanagar, Bangalore
      7.9

      Life Insurance

      +918048031107

      expert in painting work for interior & exterior painting & interior design work

    2. Sabka Policy

      Ews Layout, BTM Layout, Bangalore
      7 Reviews 9.9

      Life Insurance, Corporate group insurance

      +918048042641

      Established in the year 2016, Sabka Policy in BTM Layout 2nd Stage, Bangalore is a top player in the category Life Insurance, Term, Motor, General & Health Insurance in the Bangalore. This well-known establishment acts as a one-stop destination servicing customers both local and from other parts of Bangalore. Over the course of its journey, this business has established a firm foothold in its industry. The belief that customer satisfaction is as important as their products and services, have helped th ...

    3. Sunil Dsouza

      Also Servicing in Bangalore
      1 Review 8.9

      Life Insurance, Corporate group insurance

      +917620219862

      We offer the best Life Insurance & Health Insurance Plans. Specialised in Term Plans & Retirement solutions. Also call us for group health Insurance.

    4. Shri Sai Coaching Centre-Bangalore-Life Insurance

      Shri Sai Coaching Centre

      bagmane tech park back gate, CV Raman Nagar, Bangalore
      8.1

      Life Insurance

      +919021103387

      Learning and speaking course for exclusively hindi and tamil language !! Expertise hindi trainer with prachar sabha registration.And recognised Tamil spoken tutor,ready to share knowledge with customer requested time in centre and online too !! we build firm basic which will take u to advanced speaking talent with fluency

    5. Accident Relief Care India Pvt. Ltd

      5th Main Road, Jayamahal Extension
      1 Review

      Life Insurance, Corporate group insurance

      No. 48/1, 5th Main Road, Jayamahal Extension, Bangalore - 560046
    6. Peeka Ram

      Lingarajapuram, St. Thomas Town

      Life Insurance, Corporate group insurance

      Om Sakthi Nilayam ,No. 23, Muni Thayappa Layout, Lingarajapuram, St. Thomas Town, Bangalore - 560084 Get Directions
    7. PSR Insurance

      Srinagar, Banashankari, Bangalore

      Life Insurance, Corporate group insurance

      PSR Insurance are customer oriented & strongly believe in building a relationship based on trust with our customers. With an aim to capture customer loyalty through great value and exceptional performance, we believe in developing and maintaining lasting relationships with our customers by providing outstanding services. We provide various Loans at affordable interests. We are in touch with our customers through quality, performance, service and assistance. Contact us for further details.

    8. United India Insurance Co. Ltd.

      St. Marks Road, Ashok Nagar

      Life Insurance, Corporate group insurance

      No. 48/2, 2nd Floor, Civil Station,St. Marks Road, Ashok Nagar, Bangalore - 560001
    9. Shravan Kumar T.H.

      J.C. Road, Sudhama Nagar, Bangalore

      Life Insurance, Home insurance

      Prompt service & good advices for your hard earned money to work for you along with your life coverage option. It could be for tax saving or for earning good returns varieties of plans available to suit for your requirements. Retirement solutions, children plan, education plan, ULIP-unit linked insurance plan, endowment plan, cash back plan, pension plan etc. Coverage for your health, hospital expenses, crisis, cancer care, diabetic care etc. Regular reminders for annual payments to help you keep your inves ...

    10. Suresh - Agent of Life Insurance Corporation of India

      Gandhi Nagar, Yelahanka, Bangalore
      3 Reviews

      Life Insurance

      I am into this service for about 8-10 years and I am an exclusive agent for LIC Life Insurance.

    Latest Customer Reviews for Life Insurance in Bangalore

    as on Sep 30, 2020 Average Rating (4) - 1827 reviews
    26th Sep, 2020

    When you think about any type of Insurance, get in touch with Sabka Policy. Sabka Policy have professional Teams who will guide you for best insurance. I have taken health from Star and Life insurance from LIC with the help of Mr. Sujith. He was very professional and supportive. Thanks Team. Keep your work standard very high always. Appreciate your help.

    0
    21st Sep, 2020

    Thanks Sabka Policy in helping us to file ITR Return for free of Cost. We will certainly come back to you in case of any policy needed.

    0
    20th Sep, 2020

    I have bought Jeevan Lakshya from Sabka Policy. Service provided by them was very much appreciated. Thanks team for help

    1
    19th Sep, 2020

    Services Provided by the Sabka Policy are best. I have purchased Health Insurance product from Sabka Policy. Product suggested by them was very nice . Thanks Sabka Policy for assisting in taking Health Insurance from Manipal Cigna.

    1
    18th Sep, 2020

    Thanks Sabka policy for providing me the LIC Jeevan Labh. Plan is awsome and support provided by them are awsome.

    1
    15th Jun, 2020

    Hi all, Most desirable person, and answer all type of questions in insurance. Speaks in and out about insurance. Speaks honestly and advise best. He have good experience in this industry. I recommend every one to consult best person.

    0
    6th Jun, 2020

    I have purchased life insurance from sabka policy. Service provided by them are awesome. Team are very polite and responsive.

    1
    28th May, 2020

    Executives are well mannered.. I got my work done quickly. If you are going to buy insurance from this company I would suggest go for it. It ll offer u cheapest premium.

    0
    • Page 1

    Recent Enquiries for Life Insurance in Bangalore

    • Life insurance policy: Term insurance
    • Gender: Male
    • Age: 30
    • Insurance policy for: Self
    • Annual income: 3 - 5 lakhs
    • Insurance brand: LIC
    • Life insurance policy: Term insurance
    • Gender: Female
    • Age: 32
    • Insurance policy for: Self
    • Annual income: Less than 3 lakhs
    • Insurance brand: LIC
    • Life insurance policy: Term insurance
    • Gender: Male
    • Age: 28
    • Insurance policy for: Self, Spouse
    • Annual income: 3 - 5 lakhs
    • Insurance brand: I am not brand specific / Not sure
    • Life insurance policy: Term insurance
    • Gender: Male
    • Age: 25
    • Insurance policy for: Self, Parents
    • Annual income: 3 - 5 lakhs
    • Insurance brand: LIC

    Recent Bookings in Insurance

    • Life insurance policy: Money back policy
    • Gender: Male
    • Age: 28 years
    • Insurance policy for: Self, Spouse
    • Annual income: 3 - 5 lakhs
    • Insurance brand: LIC
    563 days ago
    • Life insurance policy: Money back policy
    • Gender: Male
    • Age: 25
    • Insurance policy for: Self
    • Annual income: 3 - 5 lakhs
    750 days ago
    • Life insurance policy: Endowment plans
    • Insurance policy for: Self
    • Annual income: Less than 3 lakhs
    • Insurance brand: IDBI Insurance
    896 days ago
    • Life insurance policy: Term insurance
    • Insurance policy for: Self
    • Annual income: More than 10 lakhs
    • Insurance brand: I am not brand specific / Not sure
    911 days ago

    Secure the life of your loved ones with the best life insurance policy

    Life insurance can give you a solid financial foundation and can be a versatile tool for all types and sizes of business. Organizations can use it as a valuable benefit to attract talented employees. We have a list of top life insurance providers in Bangalore who will not only offer you different types of life insurance policies but also help you to choose the right one according to your need. To know more about the different life insurance policies, contact our listed insurance agents now!

    What is a life insurance policy?

    It is a contract between an insurance policy holder and the insurance company where the insurer has to pay a fixed sum of money in exchange for a premium after a specific period or after the death of the insurer. Life insurance is an inimitable financial planning which can relieve the individuals and their families from financial strain in case any unfortunate event occurs.

    The three basic aspects of life insurance are:

    • Premium: The insurance cover is provided to the individuals if they pay a certain sum of money towards the policy. It is termed as premium. This can be considered as the initial investment which will offer returns in the future.
    • Death benefit/ sum assured: This is the money which the insurer has to pay the nominees of the policy holders after their demise. It can vary based on the number of parameters.
    • Term: The insurance policy provides protection for a certain period of time which is called as term. It can vary based on the type of life insurance policy chosen by the policy holder.

    Benefits of life insurance policy

    There are a lot of advantages of taking a life insurance policy such as:

    1. Life Risk Cover:
      Life insurance offers you a high life risk cover which keeps you and your family protected in case of any unfortunate event.

    2. Death Benefits:
      Investing in life insurance can give you and your family a secure future. In case of any mishap with the insured individual, the insurer pays up the entire insurance amount i.e. the sum assured along with the bonus to the grieving family.

    3. Return on Investment:
      Life insurance schemes can yield you better returns if compared with other investment alternatives. Most of the insurance schemes offer good bonuses that no other investment scheme can offer. The money is returned fully to the policy holder as sum assured either after the term completion or after the demise of the insured individual.

    4. Tax Benefits:
      Under the section 80C of the Income Tax Act, investments made in the specified instruments are subject to rebate. Currently, the amount is Rs. 100,000 which can be invested in life insurance premiums, employee provident fund, pension superannuation fund, equity linked mutual fund schemes, public provident fund and National Savings Certificates.

    5. Loan Options:
      Life insurance can offer you the advantage of taking a policy loan in case you are in desperate need of money. The loan amount can be taken in a specific percentage of the cash value or sum assured under the insurance policy.

    6. Life Stage Planning:
      Life insurance can help you in life stage planning where you can plan your life’s financial goals according to your convenience. Be it your home construction, children's education, their marriage or planning a relaxed retired life, you can manage everything with your life insurance.

    7. Assured Income Benefits:
      Your family will be secured due to assured income they can receive on regular intervals. This income can help in paying rents, loans and other expenses like telephone and electricity bills, child education etc. This amount compensates for the income that discontinues after the demise of the earning member.

    8. Riders:
      Riders are the additional benefits which are added to a basic insurance policy. The riders may cover the critical illness, personal accident, family income benefit and waiver of premium benefit. These additional cover steps are useful during situations where the main insurance policy may not come into play.

    All you need to know about life insurance

    People insure their cars against any theft or damage, their homes in case, anything goes wrong, but they forget the most valuable thing of all; their lives. It’s comforting to know that we have people around us who love and care for us deeply. But how would they manage if we are no longer around? The death of our loved ones comes with its own challenges. It is important to ensure that in this period of mourning and loss, life continues as comfortably as possible. The void created by the death of the family member is hard to fill but it should not disrupt the financial future of the family. Therefore, it is important to realize the value of life and get a life insurance.

    What is life insurance?

    It is an arrangement between the Insurance Company and the policy holder in which the insurer guarantees compensation for the loss of life in return for the regular payment of a specified premium. In Life Insurance, the name of the beneficiary is mentioned in the contract who gets the specified sum from the insurance company in case of any mishap i.e. Loss of Life.

    What are the key benefits of life insurance?

    1. Risk Coverage:Insurance offers risk coverage to the insurance holder and his family in form of monetary compensation.
    2. Different plans for different uses:Insurance firms offer different types of plans to the insurance holders depending on their need for insurance. Higher is the premium, greater will be the benefits.
    3. Cover for Health Expenses: The insurance policies may also cover hospitalization expenses and some critical illness treatments.
    4. Promotes Savings: Some insurance policies come with saving plans i.e. the insurer invests the money in profitable ventures.
    5. Guaranteed Income:  There is a guaranteed sum assured amount in the insurance policy which is payable at the time of completion of the policy tenure or if the death of the insurance holder occurs.
    6. Loan Facility: Insurance holder can borrow a certain amount of money from the insurer. This option is available only on selected policies.  
    7. Tax Benefits: Insurance holder can get tax benefits under the section 80C of the income tax Act, 1961.

    What are the different types of life insurance?

    There are many types of life insurance policies that can aid you in meeting needs of different life stages:

    1. Term life insurance: Insurance holder gets coverage for a tenure which you choose by yourself. These policies can be availed by people who find it hard to pay lump sum money.
    2. Whole life insurance: This policy covers the insurance holder for entire life.
    3. Endowment policy: Risk is covered for a definite period and at the end of the policy tenure, the sum assured along with the accumulated bonus is given to the policyholder.
    4. Money back policy: This insurance policy repays the survival benefits periodically.
    5. Savings & investment plans: It helps in investments to make your money grow.
    6. Retirement plans: It is a retirement plan. You can make your retirement corpus according to your risk and after completion of the specified period, a certain amount of money is paid to the beneficiary in the form of pension, annually, half-yearly or monthly.
    7. Unit Linked Insurance Plans (ULIPs): A part of this investment goes in providing life cover whereas the residual portion is invested in bonds or stocks.
    8. Child insurance policy: These life insurance plans are designed to meet the rising education and other needs of children. A child plan provides a lump sum amount on the event of death of the policyholder, but the insurance plan doesn’t end. All the future premiums are waived off and insurer continues investing money on behalf of the policyholder. The child gets the amount at specified tenure as per the plan.

    Best Life Insurance Plans

    Life Insurance PlansPolicy TermSum AssuredAge (Min-Max)
    Aegon Life iTerm Plan5 - 4010 Lakhs / NA18 - 75
    Aviva I-Life Plan10 - 3525 Lakhs / NA18 - 55
    Bajaj Allianz iSecure10 - 3020 Lakhs / NA18 - 70
    Bharti AXA eProtect10 - 3025 Lakhs / NA18 - 75
    HDFC Click2Protect Plus10 - 3010 Lakhs / 10 Cr18 - 65
    HDFC Life Sanchay15 - 251,05,673 / NA30 - 45
    HDFC SL Crest10 - 107 or 10 * Annual Pre / 20 * Annual Pre14 - 55
    ICICI Pru iProtect10 - 303 Lakhs / NA20 - 75
    Kotak Life Preferred e-Term10 - 4025 Lakhs / NA18 - 75
    LIC AmulyaJeevan5 - 3525 Lakhs / NA18 - 60
    LIC New Jeevan Anand15 - 501 Lakhs / NA18 - 50
    LIC Term Plan10 - 3550 Lakhs / NA18 - 75
    Max Life Online Term Plan10 - 3525 Lakhs / 100 Cr18 - 70
    SBI eShield Plan5 - 3020 Lakhs / NA18 - 70
    SBI Shubh Nivesh Plan5 - 3075,000 / NA18 - 60

    What are the different life insurance claims?

    Life insurance claims are classified as below:

    Death Claims: In case of the death claim, the beneficiary needs to submit following documents:

    • A filled claim form
    • Original policy bond or contract
    • An original or certified copy of the insurance holder’s death certificate
    • Proof of identity as the beneficiary

    Maturity Claim: In order to avail the maturity benefits of the life insurance, you need to submit the following to the insurer

    • Original policy bond
    • Maturity claim form 

    What are the top 10 insurance companies?

    • Life Insurance Corporation of India
    • ICICI Prudential life insurance
    • SBI Life insurance
    • HDFC standard life insurance
    • Max Life Insurance
    • Bajaj Allianz Life Insurance
    • Birla Sun Life Insurance
    • Reliance Life Insurance
    • Tata AIA Life Insurance
    • PNB Metlife India Insurance

    What are the documents required while buying a life insurance policy?

    The life insurance companies will ask for the following documents before issuing you insurance policy:

    • Income documents
      • Last 3 months salary slips
      • Income Tax Returns of last 2-3 years
      • Latest 6 months Bank Statement with salary entries in last 3 months
      • CA certificate in case of Businessmen
      • Latest Form 16 
    • Address Proof
      • Bank Statement or Passbook with latest entries for 6 months
      • Credit Card statement  less than 3 months old
      • Driving License with address mentioned
      • Electricity / Telephone / Water / Gas bill (less than 3 months old)
      • Leave & License agreement
      • Passport
      • Ration Card
      • Voter ID card
      • Aadhar Card
    • ID Proof
      • PAN Card
      • Passport
      • Aadhar Card
      • Voter Id card
    • Age Proof
      • Aadhar Card
      • Voter Id card
      • Ration card
      • PAN Card
      • Passport
      • Marriage certificate
      • Birth certificate
      • Driving License
      • School/College leaving certificate

    What are the factors that affect the premium of a life insurance?

    The factors that affect the premium of a life insurance are:

    • Age: If you’re young policy holder then the rates will be lower in comparison to someone older. Since the possibility of a young person having a life threatening disease or to pass away in his youth is very unlikely.
    • Gender: Insurance companies believe that there is a different life expectancy for different genders. As per the statistical findings, women are believed to live 5 years more than men. Therefore affecting the premium they pay for their policy.
    • Smoking: Smoking puts the insurance holders at higher risk of ailments, so if you’re a smoker then you have to pay a premium twice as much as any non - smoker does, thus affecting the premium to a great extent.
    • Medical history:  If a policyholder has some medical history of serious illnesses like cancer, heart diseases or any other, then they are susceptible to get them from a hereditary perspective which increases their premium by a larger margin.
    • Health records:  The health records ensure that you don’t have any chronic diseases or potential health issues, thus, keeping your premium also in check.
    • Drinking: Drinking is injurious to health in many ways. As a policyholder, if you are a heavy consumer of alcohol then you have to give high premium.
    • The Policy: The type of insurance policy can also affect the premium. The longer the tenure of the policy, the larger will be the benefit at the time of death, as you will pay it for that period of time.
    • Profession: Your profession also plays a vital role in the premium you need to pay. If the policyholder has a risky profession then premium will be high.
    • Lifestyles choices: Many insurer take higher premiums from the people who love to take risks like climbing treacherous mountains, speeding cars or other high risk activities.
    • Obesity: Obesity is another factor which can affect your premium as a policyholder. Since obese individuals are prone to a number of health problems like high blood pressure, stroke, coronary heart disease, Osteoarthritis and cancer, in the future, this increases their premium.

    What are insurance riders?

    These are additional benefits which you can get along with your current life insurance policy at affordable rates. They are valuable tools that help you in expanding your life insurance coverage. There are different types of riders like:

    • Waiver of premium: This life insurance policy stays active even if you are unable to pay the premiums with the continuation of the policy benefits.
    • Critical illness: Under this rider, the policy holder pays an extra amount to get themselves covered, in case they are diagnosed with any of the critical ailments mentioned in the document. This rider acts like an income replacement plan where the amount received under the rider can be used for both medical and household expenses.
    • Accidental death rider: All the life insurance policies cover accidental death. The accidental death rider ensures that the beneficiary gets double the sum assured in case of accidental death of the policy holder.
    • Permanent & partial disability: It is helpful if the policy holder becomes temporarily or permanently disabled due to an accident. The insurer gives a certain sum assured for the next five or ten years and all the future premiums on the insurance policy are waived off.
    • Income benefit rider: This rider offers a regular source of income to the family members in case of the demise or disability of the insurance holder.

    What is the process of insurance claim settlement after the death of policy holder?

    In case of the death of the policy holder, the beneficiary is required to send claim intimation form to the insurer as soon as possible. Claim intimation must contain details like Date, Place, and Cause of Death. On successful submission of the claim intimation form, the insurance company will ask you for some additional information such as:

    1. Certificate of Death
    2. Copy of Insurance Policy
    3. Legal Evidence of title if the insured has not appointed a beneficiary
    4. Deeds of assignment

    After successful submission of all the above documents, the insurer will verify the claim and settle the same.

    Read More

    FAQ - Life Insurance in Bangalore

    • Q. Can I save tax if I get life insurance?

      Yes, you can claim tax rebate due to your life insurance. Most investors consider life insurance to be one of the best investment plan as it helps to not only save up on taxes, but also the return is good. Tax benefits are not given for many investment plan but for life insurance you can get a rebate. The amount will depend on how much you have invested.
    • Q. What are the benefits of having life insurance?

      There are several benefits of having insurance. The key advantages are the following. 

      • The maturity amount is also tax-free along with the tax-saving under 80C.
      • Investing in life insurance will promote a good habit of saving.
      • There are policies that allow part-withdrawal.
      • Even there are some insurance providers who allow a clause of critical illness which helps in paying medical bills in case there are relevant emergencies.
    • Q. What if I miss my premium due date?

      It is ok if you miss the premium date once for a few days. In fact, an insured person can get a grace period of about 30 days. It means you will get 30 more days’ time to pay the premium and enjoy the benefits of having a life insurance policy. 
    • Q. Do I have to go to the insurance office to get life insurance?

      You can choose to go to the office of the agent, or you may ask him to come to your home and help you get the life insurance. He can come at a convenient time for both, and you can even ask for suggestions in order to make the best investment choice for yourself. 

      1. What are the different types of life insurance policies? 

      There are many types of insurance plans that one can choose from. Some of the choices are the following.

      • Term plan – It covers for a fixed period, and you will have to pay a fixed premium.
      • ULIP – This is an excellent plan if you want not just insurance but also investment plan.
      • Money-Back – It is the best way to get survival benefit out of your life insurance plan. 
    • Q. What is the frequency for paying the premium?

      It would depend on the plan you choose. It can be anywhere between monthly, quarterly or even annual. 
    • Q. What amount should I insure for LIC?

      Any amount that you deem fit for yourself, you can insure for that amount. However the amount you insure will determine the premium, so make sure you can pay the premium before fixing up an amount. 

    Life Insurance Near Me