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Life Insurance Marketing in India (C) The Changing Product & Pricing Norms

            

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EXHIBIT III
COMPARING ENDOWMENT POLICIES

            

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COMPANY POLICY FEATURES
LIC  Jeevan Anand: endowment scheme, Rs 4047 yearly premium for a 30-year old person for an assured sum of Rs 1 lakh for 16-year period.  Loan facility accident benefits cover sum assured+ bonus
ICICI Prudential Life  ICICI Pru Save ‘n'Protect: For a 20-year policy of Rs 2 lakh sum assured. A 30-year old will pay an annual premium of Rs 8,868 to get about Rs 4.80 lakh on maturity.  Rider options for accident, disability and critical illness available
HDFC Standard Life  Endowment assurance: 30 year-old to pay Rs 4,835 annual premium for Rs 1 lakh assured for a 20-year policy.   Optional benefits on additional premium
Birla Sun Life  Flexi Save Plus: 35-year old to pay Rs 4,848 annual premium for Rs 1 lakh assured for a 20-year policy.  Rider options for accident, dismemberment, term rider and critical illness available.
Max New York  Endowment Participating Policy: 35-year old to pay Rs 5,415 annual premium for Rs 1 lakh assured for a 20 year policy  Personal accident benefit rider, term rider, option to purchase paid up additions rider, guaranteed insurability option rider, waiver of premium rider available.

Source: www.easylifeindia.com

EXHIBIT IV COMPARING MONEY BACK POLICIES

EXHIBIT V COMPARING TERM LIFE POLICIES

ADDITIONAL READINGS & REFERENCES


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