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which of the life insurance companies sell the term policy for whole life? what will be their annual premiums?

Public Comments

1. Is this a serious question? There are far too many companies to list, and far too many variables in determining the premium. Fortunately, there is relatively little variance in premium between companies, so your decisions should be based more on objectives than on price. All life insurance companies sell term, most sell whole life, and most sell various forms of universal life products. Each and every type of life insurance product that exists is the best, most cost effective alternative for someone in a particular situation, so anyone who opens the discussion by stating that one type is "better" or "cheaper" than another has just discredited himself. The secret is to consult with a properly qualified financial planner or advisor, not an insurance salesperson.
2. I want to give you credit for perhaps asking "Which life insurance company will convert my term policy to whole life?" in which case the answer is- most companies that offer whole life. However your second question negates this possibility.
3. Hi Santosh, Whole life term policies are costly compared to pure term plans and doesn't serve any purpose. Also total premium you pay is almost equal to sum assured and so no benefits as everyone is going to die one day. So please consider pure term plans and invest surplus in NSC, MF etc. to generate returns for your dear ones. Regards, Pranav
4. Life Insurance is taken because there is a great financial loss for the nominees if the main bread-winner dies. So you need to take insurance only to reduce this financial loss. So go for TERM PLAN which covers you till you retire.You do not require life cover after retirement. But please take enough MEDICLAIM cover early in your life ,even if you are covered by group cover in your office. Take from a PSU like New India Assurance Co. You can also look at plans which give increasing cover & critical illness riders. Go to www.aegonreligare.com and calculate the premium yourself. Their rates are one of the lowest. For Investment - go for a combination of PPF/ SIP in MUTUAL FUNDS/ DIRECT EQUITY.